Key Managerial Personnel Changes

The Board approved the following changes to Key Managerial Personnel:

  • Cessation of Mr. Ankit Singla (Membership No. A69926) as Company Secretary and Compliance Officer, effective close of business hours on October 13, 2026. The resignation was tendered due to personal reasons, with no other material reasons stated.
  • Cessation of Mr. Naveen Kumar Laroiya as Chief Financial Officer, effective close of business hours on October 13, 2026. The resignation was tendered due to personal reasons, with no other material reasons stated.
  • Appointment of Ms. Devangna Jain (Membership No. A49863) as Company Secretary and Compliance Officer, effective immediately from October 14, 2026. Ms. Jain is a qualified Company Secretary and member of ICSI, holding B.Com and M.Com degrees. She has professional experience as a CS Trainee at Vardhman Textiles Limited, Ludhiana, and with R. Arora & Associates.
  • Appointment of Mr. Saurabh Jain as Chief Financial Officer, effective immediately from October 14, 2026. Mr. Jain is a banking and financial services professional with over 20 years of experience across business banking, retail banking, insurance, and telecom sales. He previously served as Cluster Head – Business Banking at HDFC Bank, Chandigarh, and holds an MBA in Marketing (Major) and Finance (Minor) from Punjab Technical University, along with CAIIB and JAIIB qualifications.

Fundraising Approval

The Board approved raising funds through a rights issue of fully paid-up equity shares (face value ₹10 each) for an amount not exceeding ₹2,460 lakhs (₹24.6 crores). The purpose is to achieve minimum public shareholding for eligible equity shareholders under the public category. The specific record date will be determined and notified subsequently.

The issuance is subject to receipt of applicable regulatory and statutory approvals under SEBI (ICDR) Regulations, 2018, SEBI (LODR) Regulations, 2015, and the Companies Act, 2013.

Rights Issue Committee Formation

A Rights Issue Committee was formed with the following members:

  • Mr. Pranav Singla - Chairman
  • Mr. Dhruv Singla - Member
  • Mr. Satinder Singh - Member

This committee is delegated with powers of the Board concerning the rights issue, including determination of issue price, rights entitlement ratio, record date, timing, and terms of payment. Detailed terms will be specified in a letter of offer to be sent to eligible shareholders.

Additional Information

The trading window for dealing in securities will remain closed and will open 48 hours after the publication of results for the quarter and half year ended September 30, 2026.

The board meeting commenced at 6:30 PM and concluded at 6:55 PM on October 14, 2026.