Tembo Global Industries Limited has informed the Exchange regarding 'Revised Outcome of Board Meeting'.
TEMBO · price
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Tembo Global Industries reported a packed board meeting outcome covering senior management and board changes, an auditor switch, a large fundraising plan, and a governance penalty. CFO Mr. Girish Jethmalani resigned effective June 11, 2025, to take up a new internal role, and Ms. Fatema S. Kachwala (11+ years of experience, M.Com, PGDBM) was appointed as the new CFO from July 15, 2025. Independent Director Mr. Jasbir Anand stepped down on May 30, 2025 citing age-related health issues. Statutory Auditor R.A. Kuvadia & Co. resigned due to expiry of its peer review certificate and the partner's serious health issues, and M/s Karta and Company has been appointed for a 5-year term. The Board also approved raising up to ₹500 Crore through QIP, preferential allotment, rights issue or other modes to fund defence and solar energy expansion. Additionally, the company paid a penalty of ₹3,04,440 to NSE for continuing an Independent Director above 75 years without shareholder approval under Regulation 17(1A).
Investors should note a major leadership overhaul at the top (CFO change, auditor change, independent director exit) alongside a sizeable equity fundraising of up to ₹500 Crore, which could lead to dilution. The SEBI governance penalty and the exit of the over-75 director highlight past compliance lapses, though management says it will adopt stricter governance practices going forward.