Intimation under Regulation 30 of SEBI (Listing obligations and Disclosure Requirements) Regulations 2015 for changes in the Board of Directors of the Company
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Awaiting price reaction for this filing.
Addi Industries has undergone a sweeping board reshuffle effective December 11, 2025, triggered by a Share Purchase and Transfer of Control Agreement signed on May 20, 2025. The outgoing team — Managing Director & Chairman Chaman Lal Jain, Non-Executive Director Hari Bansal, three Independent Directors (Achal Kapoor, Apra Sharma, Subrata Panda), and CFO Atul Kumar Jain — have all resigned with immediate effect. In their place, the company has appointed Sandeep Mittal as Whole-Time Director (Promoter, Executive) for 5 years, Rajat Goyal as Non-Executive Director (Promoter), and Jai Kishan and Preeti Jain as Independent Directors for 5-year terms. All board committees (Audit, Stakeholders, Nomination & Remuneration) have been reconstituted with the new directors. The resigning directors confirmed there are no disagreements with the outgoing board or management.
This is a complete change-of-control event with new promoter-aligned management taking over from the existing promoter family. Shareholders should expect a strategic shift under the new leadership, led by Sandeep Mittal. The stock may see short-term volatility, but the transition appears orderly with no governance disputes flagged.