BGIL Films & Technologies has announced its board has approved the re-classification of Mr. Gaurav Bhatia, Ms. Garima Bhatia, and Mr. Jitendra Bhatia.

These individuals, previously part of the promoter group, will now be moved to the public shareholder category.

This decision, pending approvals from the Stock Exchanges, will update the company’s shareholding pattern from the immediate succeeding quarter.

This re-categorization means an increase in the public shareholding percentage, which could be viewed positively by investors due to potential increase in free float.