Change in Management (Directors)

On 7th October 2025, Swojas Foods' board approved multiple changes in one sitting. Two directors resigned — Mrs. Jyoti Khandelwal (Non-Executive, Non-Independent) and Mrs. Dhwani Naishadh Modi (Independent) — both citing personal pre-occupation with no other material reasons. To fill the gaps, two new Independent Directors were appointed: Ms. Ranu Jain, an assistant professor at Sydenham Institute of Management Studies, and Mr. Abhay Kumar Sethia, a taxation and advisory professional with 17 years of experience. One existing director, Mr. Pallav Pareshkumar Dave, was re-designated from Independent Director to Non-Executive, Non-Independent Director. All three key committees (Audit, Stakeholders Relationship, Nomination & Remuneration) were reconstituted as a result. Separately, the board cleared a fundraise of up to ₹90 Crores through convertible equity warrants via preferential issue/private placement, and postponed a previously announced Rights Issue (which had BSE in-principle approval from November 2024) citing evolving business priorities and market conditions.