Intimation for Change in Management & Control under Regulation 30 of Securities and Exchange Board of India (LODR) Regulation ,2015
Awaiting price reaction for this filing.
Alchemist Corporation has carried out a sweeping change in its board and top management, all effective June 6, 2025. The outgoing Managing Director Pooja Rastogi, Non-Executive Directors Meena Rastogi and Sheetal Jain, Independent Director Kailash, CFO Tushar Rastogi and Company Secretary Sundar Singh have all resigned. Ms. Pooja Rastogi's resignation letter explicitly cites a 'takeover and handing over process as per Share Purchase Agreement (SPA) dated 04/04/2025', indicating a change of control of the company. In their place, Arjit Sachdeva has been appointed Managing Director for 5 years, Rahul Sharma as Non-Executive Chairman, Manju Laur as Independent Director, Giriraj Gupta as CFO and Nitin Kumar as Company Secretary. The resignations cite personal reasons, and no SEBI debarment orders have been flagged against any of the incoming appointees.
This is a major corporate event — the entire senior leadership and a large chunk of the board have been replaced in a single day, signalling a complete change of ownership/control. Shareholders should expect a potential shift in business direction and monitor the new management's strategy. Such a dramatic overhaul can also create short-term uncertainty around governance continuity and stock price volatility.