Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
AVANTEL · price
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Awaiting price reaction for this filing.
Avantel Limited informed the stock exchanges that shareholders at the 35th Annual General Meeting held on June 23, 2025 approved three key board changes. Dr. Abburi Vidyasagar, the founder-promoter, was re-appointed as Managing Director for another three-year term (April 1, 2025 to March 31, 2028); he holds 4,49,92,324 equity shares. Smt. Abburi Sarada, who is also the Chief Financial Officer, was re-appointed as Whole-time Director for three years (May 8, 2025 to May 7, 2028); she holds 1,46,24,940 equity shares. Additionally, Mrs. Mini Ipe, former Managing Director of LIC with 38+ years in insurance, was appointed as an Independent Director for a five-year term (March 27, 2025 to March 26, 2030). Mrs. Ipe is unrelated to the promoter family and holds no shares in the company.
This is a routine corporate governance update with no direct impact on the stock price. The promoter family continues to lead the company, and the addition of a high-profile former LIC MD as an independent director may be viewed positively from a governance and oversight perspective.