Board Meeting16 Jul 2026, 12:27 pm
Kirloskar Electric Board Approves Preferential Issue, Director Re-appointment
AI Summary
Kirloskar Electric Company Ltd's Board of Directors met on July 16, 2026, approving key decisions including the re-appointment of Mr. Vijay R Kirloskar as Whole-time Director (Executive Chairman) for three years, effective August 12, 2026. The board also approved a preferential issue of up to 34,68,007 equity shares at a floor price of ₹115.34 per share, aggregating up to ₹40 crore, to promoter group company Kirloskar Power Equipments Limited. Additionally, M/s. T. Sriram, Mehta & Tadimalla, Chartered Accountants, were appointed as the Internal Auditors for the financial year 2026-27. All these approvals are subject to member and regulatory authorities' consent.
Key Highlights
- Mr. Vijay R Kirloskar re-appointed Executive Chairman for 3 years.
- Preferential issue of equity shares approved for ₹40 crore.
- Shares to be issued to promoter group company Kirloskar Power Equipments.
- Internal Auditors appointed for FY 2026-27.
- Approvals are subject to shareholder and regulatory consent.
Price Impact
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