Appointment of Additional Non executive non Independent Director
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Evans Electric Ltd has appointed Mr. Kalyan V. Sivalenka (DIN: 06404449) as an Additional Non-Executive Non-Independent Director, with approval from the Board on May 28, 2025, based on the recommendation of the Nomination and Remuneration Committee. Mr. Sivalenka is a CFA charterholder and serves as the Managing Partner of Hyderabad Angel Funds (a SEBI-registered ₹100 crore venture capital fund) and Founder of Springforth Capital Advisors, an investment banking firm. He brings over two decades of experience in investment banking, private equity, M&A, and corporate finance, and currently serves as an Independent Director on the Board of Megasoft Limited. The appointment was disclosed under SEBI LODR Regulation 30.
Adding a high-profile financial expert and venture capitalist to the Board could strengthen Evans Electric's access to capital markets, fundraising capabilities, and strategic growth guidance. For shareholders, this signals a move toward professionalizing the board, though it is a routine regulatory disclosure with no immediate impact on stock price or operations.