A listed company can apply to stock exchange for re-classification of the Promoter's holdings as public shareholders under SEBI regulations. Whether following promoters can apply for re-classification with reference to S

As per Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations") deals with the conditions for re-classification of any person as promoter / public. Based on the provisions of Regulation 31A of the SEBI LODR Regulations, the following are the answers to the circumstances given: (b) Promoter is holding 12% of total voting rights in the listed entity. As per Regulation 31A (b)(i), if the promoter holds more than 10% of the total voting rights in the listed entity, they are not eligible for re-classification. Hence in this case, the promoter is not eligible to apply for re-classification.