Material event under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.
Awaiting price reaction for this filing.
Nagarjuna Fertilizers and Chemicals Ltd has informed stock exchanges that promoter Amlika Mercantile Private Limited (AMPL) has withdrawn the nomination of its two directors from the Board. Consequently, Mr. K Rahul Raju ceases to be the Managing Director and Mr. Uday Shankar Jha ceases to be the Chairman, both effective December 26, 2025. AMPL had already exited its entire stake of 29,60,72,140 equity shares (49.51%) in NFCL during FY 2024-25 through open market transactions and block deals. The withdrawal of these nominations is a direct consequence of AMPL's exit as a promoter and shareholder of the company. This means NFCL is losing both its top leadership positions simultaneously, leaving key executive roles vacant.
The simultaneous exit of the Managing Director and Chairman creates leadership uncertainty at the top and may weigh on the stock in the short term. Shareholders should watch for announcements regarding new CEO and Chairman appointments, as well as clarity on the company's strategic direction post the complete exit of the original promoter.