Board approves External Advisor and AI exploration, in-principle nod to evaluate promoter-group acquisition

Board meeting outcome (Oct 8, 2026).

Thu 8 Oct 2026

External Advisor Appointed

Mr. Ranju Das appointed External Advisor — background in AI, technology, cloud and digital transformation

Proposed Acquisition Evaluation

In-principle authorisation to evaluate potential acquisition of Brahm Precision Materials Pvt Ltd, a promoter group entity — no deal…

CFO Resignation

CFO Mr. Bhavik Maisuria's resignation noted with effect from 31 Dec 2026

What the Board approved

• Mr. Ranju Das, a US citizen, was appointed as an External Advisor to the company on mutually agreed terms. His stated role covers general corporate management matters, guidance on overall business strategy, business operations, and corporate and business development.
• The update describes his experience as spanning artificial intelligence, technology, cloud computing and digital transformation, with senior leadership roles including CEO of SWAN AI Studios and Optum Labs (UnitedHealth Group), and most recently Chief AI and Technology Officer at lululemon athletica inc.
• The Board noted that Mr. Das may subsequently be considered for an executive position and/or executive powers in the company. This is stated as subject to applicable provisions of law and receipt of necessary approvals from the Board, Members, and/or Central Government or other regulatory authorities as legally permissible. No such appointment has been made now.

AI and technology verticals

• The Board noted and approved a strategic initiative to actively explore opportunities relating to Artificial Intelligence, AI-enabled products, and AI implementation across all business verticals of the company.
• The management has been authorised to undertake further evaluation and development of such opportunities. This is an exploration and authorisation step, not a completed investment or a signed contract.

Proposed acquisition of a promoter group company

• The Board accorded in-principle authorisation to evaluate the potential acquisition of Brahm Precision Materials Private Limited, described as a promoter group entity, covering its business, assets and operations.
• Mr. Adi F. Madan, Managing Director, has been authorised to conduct preliminary discussions, negotiate terms, undertake due diligence, and appoint necessary advisors and valuers.
• The update states that any final transaction remains subject to formal due diligence, definitive documentation, valuation, and requisite audit committee, Board, members and regulatory approvals. Investors should read this as a proposal under evaluation, not as an agreed purchase.

Proposed subsidiary and a director nomination

• In connection with the proposed acquisition of Brham Well-Being and Lifestyle Corporation Private Limited (formerly known as Brahm Lifestyle Products Private Limited) as a subsidiary of the company, the Board proposed the appointment of Ms. Neha Tikam, an Independent Director of the company, as a Director on the Board of that proposed subsidiary.
• This is subject to applicable provisions of the Companies Act, 2013, Regulation 24 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other necessary statutory approvals.

Hospitality and lifestyle proposal

• The Board has received a proposal for further investment by the proposed subsidiary and has taken note of the idea of proposed investment in hospitality, wellbeing and lifestyle opportunities in the middle east region including UAE and Oman, and in USA, Canada, Spain and Greece.
• The company states it reserves its rights to give any approval for the proposals and will look after it on a particular investment case to case basis. No investment has been approved.

Change in key managerial personnel

• The Board took note of the resignation of Mr. Bhavik Maisuria, Chief Financial Officer, tendered vide resignation letter dated 30.09.2026, with effect from 31.12.2026.
• The stated reason is his decision to pursue further studies overseas. The Board placed on record its appreciation for the valuable services and contribution rendered by him during his tenure.

The meeting commenced at 04.45 P.M. and concluded at 05.40 PM.

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