Nature of change: Appointment of Shanti Ekambaram (DIN: 00004889) as an Additional Independent Director of the Company
Effective date and tenure: Appointment effective from 30th July, 2026 for a term of 3 consecutive years, subject to approval of shareholders
Profile and qualifications: Shanti Ekambaram, aged 63 years, is a distinguished banking business and governance leader with 39 years of financial services experience, including 35 years at Kotak Mahindra Bank. She served as Deputy Managing Director and Whole-time Director (2022-2025) providing strategic oversight across Digital Banking, Treasury, Human Resources, Internal Audit, Vigilance, CSR/ESG, and Capital Market subsidiaries. She was CEO of Kotak Mahindra Capital Company (1997-2003), the investment banking joint venture with Goldman Sachs. She led India's first book-building transaction (Hughes Software IPO in 1999). She is a Chartered Accountant and Cost Accountant.
Current directorships: Serves as Independent Director on boards of Kotak Mahindra Capital Company, Kotak Securities, Havells India Limited, and Indian Institute of Management, Bangalore
Industry recognition: Ranked No. 1 on Candere Hurun India Women Leaders List 2025, Business woman of the Year 2025 by The CEO Magazine, consistently recognized by Fortune India's '50 Most Powerful Women in Business' and Business Today's 'Most Powerful Women in Indian Business'
Eligibility confirmation: She is not debarred from holding the office of director by virtue of any SEBI order or any other authority
Relationship disclosure: She is not related to any other Director of the Company
