Management Change5 Sept 2026, 06:30 pm
Pipan Oils Ltd: Avnish Jindal Appointed MD; Approves Stock Split & Preferential Offer
AI Summary
Pipan Oils Ltd announced that its Board of Directors has approved several key corporate actions. Mr. Avnish Jindal's designation has been changed from Whole-time Director to Managing Director, effective September 5, 2026, subject to member approval. The board also approved a stock split of preference shares (1:5) and an alteration to the Memorandum of Association. Additionally, the company plans to issue up to 26,29,416 Compulsorily Convertible Preference Shares (CCPS) at a premium of ₹89 per share, aggregating up to ₹23.92 crore, via preferential allotment. The company also approved the Director's Report and Notice of AGM for FY26 and appointed a scrutinizer for e-voting.
Key Highlights
- Avnish Jindal appointed Managing Director, effective Sept 5, 2026.
- Board approves preference share split (1:5) and MoA alteration.
- Company to issue CCPS worth ₹23.92 crore via preferential offer.
- AGM notice and Director's Report for FY26 approved.
- Appointment of e-voting scrutinizer approved.
Price Impact
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