CFO resigns, MD takes CEO role; promoter preferential issue of about Rs 30 crore

Cfo ResignedManagement Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-0.1%Reaction day

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prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%+0.4% vs market

On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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AI summary

The Board approved CFO Uttam Kumar Biswas's resignation effective Dec 31 for personal reasons. Venugopal Rao Pendyala (30+ years experience) joins as Group CFO from Jan 1, 2026. Managing Director Shivaji Akhade also takes on the CEO role. Separately, company will issue 10.5 lakh equity shares at Rs 75 each (about Rs 7.87 crore) and 30 lakh warrants at Rs 75 (about Rs 22.5 crore) to Promoters via preferential route. Total potential fund raise about Rs 30.37 crore.

Likely market impact

Promoter-led fund raise signals confidence but will dilute existing shareholders once warrants convert.