Outcome of Board Meeting held today i.e. 04th August, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board took note of a change of control following a Share Purchase Agreement dated May 30, 2025, under which acquirers AL Maha Investment Fund PCC–Onyx Strategy (a SEBI-registered Category I FPI) and Indigo Infracon Private Limited bought 19,19,630 equity shares (54.84%) from the existing selling promoters. Indigo Infracon has become the new promoter, while the previous promoters (Goyal family and related entities) will be reclassified as public. The entire board and CFO were reconstituted: Ms. Bhairavi Chandrakant Goswami was appointed as the new Managing Director, with three other directors (one promoter non-executive, two independents) joining. All previous directors and the CFO resigned citing the change of management. The registered office is being shifted within Delhi from Aerocity to West Punjabi Bagh.
This is a complete change of control event — a new promoter group (Indigo Infracon) now owns a majority 54.84% stake, and an FPI is a significant co-holder. Existing shareholders should expect a new strategic direction under the new management, board-level reshuffle, and likely follow-up open offer activity. The stock could see heightened volatility as control changes are typically a material event for minority shareholders.