Hester Biosciences Reclassifies Promoter Group Members

99.99% of shareholders voted in favor of the reclassification.
803,955 total shares are affected by this promoter-to-public category shift.

Reader Takeaway: The reclassification aligns the firm with SEBI governance norms; no change to business operations is expected.

What just happened

Hester Biosciences Limited has successfully concluded a postal ballot process to reclassify two members of its promoter group. Shareholders approved the reclassification of Mr. Ravin Gandhi and Ms. Bela Gandhi from the 'Promoter' category to the 'Public' category. The resolution received overwhelming support, with 99.99% of the valid e-votes cast in favor of the proposal.

Why this matters

This process is a standard corporate governance requirement under Regulation 31A of the SEBI (LODR) Regulations, 2015. By reclassifying these individuals, the company ensures its promoter group structure remains compliant with current regulatory definitions. Mr. Ravin Gandhi and Ms. Bela Gandhi have formally confirmed they no longer exercise control, hold any special rights, or maintain representation on the company's Board.

What changes now

Following the approval, Mr. Ravin Gandhi (holding 4.74% of paid-up capital) and Ms. Bela Gandhi (holding 4.71% of paid-up capital) will be categorized as public shareholders. The company has verified that neither individual is a willful defaulter or a fugitive economic offender, meeting all necessary criteria for this change in classification.

Voting Process

The voting took place via remote e-voting, which concluded on September 3, 2026. The results were verified by Tapan Shah, a Practicing Company Secretary. Out of the total e-votes received, 82 were in favor, representing 3,981,536 shares, while only 7 votes dissented against the proposal.