resignation of director is attached herewith
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The Board held its 2nd meeting for FY26 on May 8, 2025 and approved audited standalone and consolidated financial results for Q4/FY25 with an unmodified auditor opinion. Mr. Amar Bahadur Rajpurohit was appointed as Interim CEO and Additional Director, bringing 17 years of experience from Capri Global Capital Ltd and AU Small Finance Bank, subject to shareholder, RBI and other approvals. Independent Director Mr. Bharat Balachandran resigned effective the same day, and Pankaj Sharma was appointed as a Non-Executive Independent Director for 5 years. The Board also allotted 4,93,000 equity shares (at Rs.13.50 each, including Rs.11.50 premium) to Uni-Tech Engineering Pvt Ltd upon conversion of warrants on a preferential basis.
Shareholders can expect slight dilution as the warrant conversion takes the allottee's stake to about 0.75% of post-issue equity. The simultaneous CEO change and Independent Director reshuffle, along with revision in remuneration of Whole-Time Director Mr. Sagar Samir Shah, signal a leadership transition that may be closely watched by investors.