CFO Resigns; Board Approves Two Acquisitions and Share Swap

Cfo ResignedKmp ResignedManagement Changes View source PDF

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+9.3%1-day move

₹9.48

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AI summary

Board approved resignation of MD and CFO Mr. Chirag Shah citing time constraints, effective 24 July 2026. Mr. Atul Marathe appointed as new Executive Director and CFO. Board also approved acquiring 19.50 percent each in Startech Infralogistics and Peepal Mining and Logistics via share swap worth about Rs. 81 crore. Authorized capital to rise from Rs. 5.24 crore to Rs. 50 crore. About 4.06 crore new equity shares to be issued at Rs. 20 each. EOGM on 21 August 2026.

Likely market impact

Leadership change at MD and CFO level. Significant share dilution from 4 crore new shares. Diversification push into logistics and mining.