ENCLOSED HEREWITH DISCLOSURE UNDER REGULATION 30 OF SEBI (LODR) REGULATIONS, 2015 ALONG WITH RESIGNATION LETTER
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Awaiting price reaction for this filing.
Sanmit Infra's board, at its meeting on 4 February 2026, approved a Rs. 200 lakh term loan from SIDBI under the STEP Scheme at 8.85% annual interest for working capital at its Khalapur manufacturing unit, secured by hypothecation of assets and CGTMSE cover of Rs. 170 lakh. The board took on record the resignation of CEO Shlok Sanjay Makhija, effective from the close of business on 31 December 2025, citing other professional engagement. Independent Director Mohan Mallu Rathod completed his second term and stepped off the board on 5 January 2026. The board recommended a consolidation of 10 equity shares of Re. 1 each into 1 share of Rs. 10, pending shareholder approval at an EGM on 18 March 2026, and appointed Nandkumar Gorkhnath Patil as a new Non-Executive Independent Director for a 5-year term. No new CEO has been announced yet.
The SIDBI loan supports working capital needs at modest cost, which is mildly positive for operations, but the unexpected CEO departure (a Makhija family member) and end of an independent director's term raise short-term governance questions, while the share consolidation will reduce liquidity and may pressure the stock price near the record date.