GP Petroleums CFO Arjun Verma resigns; Shirish Suvagia named new CFO. Board okays Rs 44 cr deal
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Board on Oct 13, 2026 approved three items: (1) acquisition of equity shares in Incubit Pipavav Terminal Private Limited for Rs 44.27 crores from internal reserves over one year as a strategic investment in port and related infrastructure; (2) resignation of CFO Arjun Verma effective Oct 15 for personal reasons, while he continues as Executive Director; and (3) appointment of Shirish Suvagia, a Chartered Accountant with over 22 years in finance, treasury, M&A and IPO-related work, as new CFO effective Oct 15, 2026.
Smooth CFO transition with successor ready. Rs 44.27 cr acquisition diversifies into port infrastructure using internal cash, so no equity dilution risk for shareholders.