Board of Directors appointed the following Additional Directors: Mr. Raveesh Moolamkuzhil Varghese (DIN 07671512) Mr. Rishin Rasheed (DIN 09801238) Mr. Aneesh Kumar K Kuniyil (DIN 11093470)
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
On May 14, 2025, Hari Govind International Ltd's board approved a sweeping set of changes. Three new directors were appointed: Mr. Reveesh Moolamkuzhiyil Varghese and Mr. Rishin Rasheed as Independent Directors, and Mr. Aneesh Kumar K Kuniyil as Whole-Time Director, all for 5-year terms. Existing promoters (Jugal Kishore Maniyar HUF and Sunita Maniyar) signed a Share Purchase Agreement to sell their entire 60% stake (30,00,000 shares at ₹10/share, totalling ₹3 crore) to Shaju Thomas and Linta P Jose, triggering a full change of control and a mandatory open offer to public shareholders. The company is also altering its main object clause to pivot into baby care, readymade garments, textiles, toys, toiletries and health drinks. Additionally, a preferential issue of 37,75,000 shares at ₹10 each (₹3.78 crore) is being made to 14 allottees, including the incoming promoters, and authorized capital is being raised from ₹5.25 crore to ₹10.25 crore.
This is a complete change-of-control event with a simultaneous business pivot, which typically leads to high stock-price volatility. Existing public shareholders should watch for the open offer price from new promoters Shaju Thomas and Linta P Jose, and note significant dilution (post-issue, allottees will hold ~43% of expanded capital). The resignation of existing director Mr. Mayur Bhailal Bhanushali was also noted.