Board overhaul, three director resignations and proposed Rs 3,000 crore raise
SIGMAADV · price
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Sigma Advanced Systems added independent directors Galla Jayadev and Urkavalan Jeya Santhi, and named Raju Somashekar Baggavalli chairman. Promoter Kartheek Raju Chintalapati became whole-time director and vice chairman. Sunil Kumar Kalidindi was redesignated managing director, subject to shareholder approval. Three non-executive directors resigned, citing work commitments or other occupations. It also approved raising up to Rs 3,000 crore.
New leadership and independent oversight may strengthen governance, but the proposed Rs 3,000 crore fund raise may dilute existing shareholders.