Appointment of Additional Director Apointment of MD and CFO
Awaiting price reaction for this filing.
ACE Edutrend's board, meeting on August 28, 2025, approved several key decisions including the appointment of Rohan Agarwal as the new Managing Director and Chief Financial Officer, replacing Monendra Srivastava who resigned from both roles. Rohan Agarwal is identified as the son of Mr. Mohan Agarwal, indicating a promoter-family transition at the top. Ramanuj Murlinarayan Darak was appointed as an Additional Director. The board also approved a five-fold increase in authorized share capital from INR 10 crore to INR 50 crore, and proposed a Rights Issue (or other modes) of up to INR 50 crore (5 crore equity shares of INR 10 each). Other items include the 31st AGM notice for September 30, 2025, the launch of a project called E-Shiksha, and the appointment of M/s Chandan Jha & Associates as Secretarial Auditor for five years.
Existing shareholders should note that a promoter-family member (son of Mohan Agarwal) is now occupying both the MD and CFO seats, signaling tighter family control of the company. The planned Rights Issue of up to INR 50 crore and the 5x jump in authorized capital indicate a sizeable upcoming fundraising that could dilute existing holdings unless fully subscribed by current shareholders.