Afcons Infrastructure Limited has informed the Exchange about outcome of the Board Meeting held on September 25, 2025, with respect to appointment of directors and categorization Senior Managment personnel of the Company.
AFCONS · price
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Afcons Infrastructure announced multiple decisions from its September 25, 2025 board meeting. Mr. Santosh Balachandran Nayar, a veteran banker with 40+ years at SBI, IFCI, and IIFCL, was appointed as an Independent Director for a 5-year term, subject to shareholder approval. Mr. Firoz Cyrus Mistry, a 29-year-old Yale-educated member of the Shapoorji Pallonji (SP) promoter family and son of the late Cyrus Mistry, was appointed as a Non-Executive Non-Independent Director. Mr. Udai Veer Singh, EVP (Operations), was officially categorized as Senior Management Personnel. The board also approved ESOP 2025 with a pool of 1.83 crore stock options and the issuance of Rs. 50 crore worth of unsecured listed NCDs via private placement on NSE with a 3-year tenure.
The induction of Firoz Cyrus Mistry signals the next generation of the SP promoter family taking a more active role in Afcons, strengthening promoter oversight and long-term strategic direction. The ESOP 2025 and NCD issuance indicate the company is aligning employee incentives and raising debt capital to support growth, which shareholders should view as forward-looking but subject to dilution and debt-servicing considerations.