Key Board Approvals
Management Appointments:
- Re-appointment of Mr. Jonna Venkata Tirupati Rao (DIN: 07125471) as Managing Director for 5 years effective November 27, 2026, subject to shareholder approval. Mr. Rao holds an MBA and has over 20 years experience in corporate finance, accounts, and strategic management. He is co-brother-in-law of Mr. Mugatha Narendra Babu, CFO & Executive Director.
- Re-appointment of Mr. Srinivas Maya (DIN: 08679514) as Whole Time Director for 5 years effective November 13, 2026, subject to shareholder approval. Mr. Maya has over 25 years experience in financial services with LL.B. and MBA qualifications.
- Re-appointment of Mr. Chandra Sekhar Dasaka (DIN: 05012419) as Independent Director for a second term of 5 years effective August 22, 2026, subject to shareholder approval.
Auditor Appointments:
- Re-appointment of M/s. Gorantla & Co., Chartered Accountants (Firm Registration No. 016943S) as Statutory Auditors for a second term of 5 consecutive years from the conclusion of the 31st AGM until the conclusion of the 36th AGM in 2031.
- Appointment of GANTA & Co. as Internal Auditor for FY 2026-27.
Capital Structure Changes:
- Increase in authorized share capital from ₹300 Crores to ₹1,000 Crores, subject to shareholder approval at the 31st AGM.
- Approval to raise funds up to ₹200 Crores through Qualified Institutions Placement (QIP)/ADR/GDR/FCCBs, subject to shareholder and regulatory approvals.
Strategic Acquisition:
- Approval for acquisition of 23.64% stake in WEXL EDU Limited through a share swap arrangement by issuing 1,275,969,960 equity shares (face value ₹1) at issue price of ₹1 per share to non-promoter shareholders of WEXL EDU Limited.
- The enterprise value for the acquisition is ₹127.60 Crores.
- The company appointed independent valuer Gadiparthi Rambabu (Registration No. IBBI/RV/06/2019/1111) for the transaction.
- The allotment will be made to 182 non-promoter shareholders of WEXL EDU Limited as detailed in Annexure-8.
Governance and Compliance:
- Approval of draft Notice and Annual Report for the 31st Annual General Meeting for FY 2025-26.
- Approval of material related party transactions under Section 188 of Companies Act, 2013, subject to member approval.
- Appointment of scrutinizer for e-voting and availing CDSL services for the 31st AGM.
- Alteration and adoption of Memorandum of Association as per Companies Act, 2013.
Meeting Details
The Board meeting commenced at 3:00 PM and concluded at 6:10 PM on August 31, 2026.
Financial Impact
The acquisition of 23.64% stake in WEXL EDU Limited through share swap represents an enterprise value of ₹127.60 Crores. The fundraising of up to ₹200 Crores and capital increase to ₹1,000 Crores will impact the company's capital structure and liquidity position.