Pursuant to Regulation 30 of SEBI LODR 2015, the Board of Directors of the Company at its meeting held today has inter alia considered and approved the following: 1.The Board has approved ....
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The board of Purple Wave Infocom Ltd, at its meeting on 26 March 2026, approved the incorporation of two wholly owned subsidiaries — Nano Theatre Private Limited in Delhi and another entity in the UAE — both aimed at expanding into the AV (Audio-Visual) industry. The board also approved the PWIL ESOP 2026, a stock option scheme covering up to 4,00,000 equity shares of Rs. 10 face value, subject to shareholder approval at an EGM scheduled for 9 May 2026. Separately, CEO Mr. Shaurya Jitendra Somani resigned effective 1 April 2026 to take up a director's role in the new wholly owned subsidiary. The board confirmed there are no governance disputes or material concerns behind the CEO's exit.
For shareholders, this signals a strategic push into the AV business both domestically and internationally, along with a potential dilution of up to 4,00,000 shares once the ESOP is approved at the EGM. The leadership transition appears orderly, with the outgoing CEO moving into the new subsidiary rather than leaving the group entirely.