Utique Enterprises Limited's board, at its meeting on July 17, approved the reclassification of Honcho Trading Private Limited and Chivas Trading Private Limited from 'Promoter Group' to 'Public Shareholder' status.

This approval is subject to BSE's clearance.

The reclassification is based on these entities no longer holding any shares, voting rights, or control, nor having representation on the board or in management.

This move signifies Utique's transition to a professionally managed company with no identified promoters, which could positively impact investor perception and governance.