Disclosure under Regulation 30 of SEBI Listing Regulations

The Tata Power Company Limited (Scrip Code: BSE 500400, NSE: TATAPOWER) has made a regulatory disclosure regarding appointment of key managerial personnel.

Key Appointments and Effective Dates

The Board of Directors, at its meeting held on November 11, 2026 (commencing at 2:00 PM IST and concluding at 4:25 PM IST), based on the recommendation of the Nomination and Remuneration Committee, approved:

  • Appointment of Mr. Sanjay Banga (DIN: 07785948) as Additional Director of the Company and his designation as Chief Executive Officer Designate (CEO Designate), effective from November 11, 2026.
  • Appointment of Mr. Sanjay Banga as CEO and Managing Director and Key Managerial Personnel of the Company for a term of five years, from May 1, 2027 to April 30, 2032 (both days inclusive), subject to approval of the shareholders of the Company.

Director Relationship Disclosure

Mr. Sanjay Banga is not related to any of the Directors of the Company.

Regulatory Compliance Status

Mr. Sanjay Banga is not debarred from holding the office of Director by virtue of any SEBI Order or any other such Authority.

Professional Background of Mr. Sanjay Banga

Mr. Banga currently serves as:

  • Chief Executive Officer and Managing Director of Tata Power Renewable Energy Limited
  • President – Renewables of The Tata Power Company Limited

Previous roles include:

  • President of Transmission and Distribution businesses at Tata Power, overseeing distribution companies across Odisha, Mumbai, Delhi and Ajmer; Mumbai transmission business; Powerlinks Transmission Limited; and transmission assets in Uttar Pradesh
  • Chief Executive Officer of Tata Power Delhi Distribution Limited (TPDDL), a Public-Private Partnership between Tata Power and Government of NCT Delhi

Career history:

  • Engineer Trainee at National Thermal Power Corporation Limited (NTPC) from 1989 to 1995, involved in operation and commissioning of super thermal power projects
  • Worked with Reliance Energy (formerly BSES Limited) from 1996 to 2003, with responsibilities covering operations, maintenance, planning, design and project engineering for thermal power projects

Qualifications and Experience

  • Over three decades of experience in power sector across operational and commercial management of distribution companies
  • Expertise in business development, digital transformation, project management, change management, regulatory advocacy and stakeholder management
  • Alumnus of National Institute of Technology, Kurukshetra
  • Master of Business Administration from Faculty of Management Studies, University of Delhi
  • Completed Senior Executive Leadership Program at Harvard Business School

Shareholder Approval Requirement

The appointment as CEO and Managing Director is subject to approval of the shareholders of the Company.