Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 - Appointment of Mr. Gorakh Ingale as CFO and KMP of the Company w.e.f. 12.11.2025.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 5.2 pts less than its Residential, Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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IITL Projects' board approved three items on November 12, 2025. First, the company will sell 4,00,880 preference shares in Capital Infraprojects Private Limited to Medanta Real Estate Private Limited for Rs. 40 lakh (book value Rs. 48.10 lakh, fully impaired). Second, the redemption period for 70 lakh Zero% Non-Convertible Redeemable Preference Shares held by its parent Industrial Investment Trust Limited has been extended to March 31, 2028, subject to shareholder approval. Third, Mr. Gorakh Ingale has been appointed as Chief Financial Officer and Key Managerial Personnel, effective the same day. Mr. Ingale is a qualified CA, CS, and LLB, previously serving as Vice President of the NBFC Division at the parent company.
The share sale is a token divestment of a fully impaired asset with minimal financial impact. Extending the preference share redemption eases short-term cash outflows for the company. The CFO appointment reinforces financial leadership but is a routine governance update. Overall, neutral to mildly positive for shareholders.