Date: 12th October, 2026

KMP / Board / Auditor Changes

  • Appointment of Mr. Rabindra Nath Nayak (DIN: 02658070) as an Additional Director (Non-Executive Independent), not liable to retire by rotation.
  • Term of Appointment: 5 consecutive years from 12th October, 2026 to 11th October, 2031.
  • Approval Status: Subject to approval of the shareholders via a postal ballot.
  • Profile: Mr. R. N. Nayak is a former Chairman & Managing Director of Power Grid Corporation of India Limited (PGCIL). He holds a master's in Electrical Engineering from IIT, Kharagpur and a graduation from NIT, Rourkela (1977). He has over 40 years of experience in senior level positions in power sector PSUs including PGCIL and NTPC. He is currently a Director on the boards of several companies including Odisha Power Transmission Corporation Limited, TP Northern Odisha Distribution Limited, TP Western Odisha Distribution Limited, GRIDCO Limited, Diamond Power Infrastructure Limited, Yash Highvoltage Ltd, IMP Power, OHPC, GEDCOL, Powerica Ltd and Future Smartec (OPC) Private Limited. He is also a consultant to the World Bank Group, Washington.
  • Relationship with other directors: Mr. R.N. Nayak is not related to any of the Directors of the Company.

Board Meeting Outcomes

The Board of Directors meeting, held from 04:30 P.M. to 05:23 P.M. on 12th October, 2026, approved the following:

1. The appointment of Mr. Rabindra Nath Nayak as an Additional Director.

2. The incorporation of a new Private Company as a Wholly Owned Subsidiary.

3. The issuance of a Notice of Postal Ballot to seek shareholder approval for Mr. Nayak's appointment and authorized Mrs. Anu Singh, Company Secretary & Compliance Officer, to decide the timeline for the Postal Ballot.

Disinvestment / Strategic Actions

  • Incorporation of a Wholly Owned Subsidiary: The Board approved the formation of a new private limited company.
  • Proposed Name(s): EVERGRID PVT. LTD; EVERGRID INDIA PVT. LTD; EVERGRID TRANSMISSION PVT. LTD or such other name as may be approved by the Ministry of Corporate Affairs.
  • Country of Incorporation: India.
  • Share Capital: Authorised Capital - ₹25,00,00,000 (25 Crore); Issued Capital - ₹1,00,00,000 (1 Crore).
  • Holding Company & Relation: The new entity will be a wholly-owned subsidiary of Skipper Limited and classified as a related party.
  • Industry & Line of Business: The subsidiary will be incorporated with the object of undertaking Transmission and EPC related works.
  • Regulatory Approvals: Approvals from the Ministry of Corporate Affairs (MCA) and other applicable regulators are required.
  • Consideration & Acquisition: Skipper Limited will invest funds by subscribing to the shares of the newly incorporated company to acquire a 100% stake.

Other Operational / Legal / Strategic Disclosures

  • The disclosures are made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.
  • The company affirms that Mr. Nayak is not debarred from holding the office of Director by virtue of any SEBI order or other authority.