Aerpace Industries Limited has allotted 1.5 crore warrants to N.K. Family Private Trust, a member of the promoter group, on a preferential basis. The transaction aggregates to ₹48.82 crore, with the company receiving ₹12.20 crore upon allotment.

The Board of Directors approved the allotment of 1,50,00,000 warrants at an issue price of ₹32.55 per warrant. This move follows prior disclosures made on July 9, 2026, and August 8, 2026, which detailed the board's approval and subsequent shareholder ratification for the issuance.

Allotment Details

The company confirmed the receipt of funds corresponding to the allotted warrants. The regulatory filings highlight compliance with SEBI Listing Regulations regarding the disclosure of material events.

Regulatory Compliance

Aerpace Industries stated that all requisite disclosures prescribed under the SEBI Master Circular dated January 30, 2026, were duly made in respect of the Board Meeting held on July 9, 2026. The allotment was executed following the receipt of ₹12.20 crore from the proposed allottee.

The filing was signed by Anand Manoj Shah, Managing Director and Chief Financial Officer, on September 27, 2026.

Aerpace Industries Limited announced significant changes to its Board of Directors following a meeting held on September 24, 2026. The company appointed retired IAS officer Giridhar Aramane as an Additional Non-Executive Director and engaged Air Vice Marshal Rajesh Bhandari as an Advisor to the Board. Simultaneously, the Board noted the resignation of Milan Bhupendra Shah as a Non-Executive Director due to pre-occupation.

Board Appointments and Advisory Role

The Board approved the appointment of Giridhar Aramane (DIN: 00483130) as an Additional Director in the category of Non-Executive Director with effect from September 24, 2026. This appointment is subject to shareholder approval. Aramane is a retired 1988-batch IAS officer who served as Defence Secretary of India from 2022 to 2024 and previously as Secretary of the Ministry of Road Transport & Highways. He holds a B.Tech in Civil Engineering, an M.Tech from IIT Madras, and an M.A. in Economics.

Additionally, the company appointed Rajesh Bhandari as a Member of the Advisory Board effective the same date. Bhandari is a retired Air Vice Marshal (VSM) who served at Air Headquarters and was appointed Assistant Chief of Air Staff in September 2023. His role is strictly advisory; he will not participate in decision-making or hold voting rights, focusing instead on providing independent guidance to strengthen governance.

Director Resignation

The Board took note of the resignation of Milan Bhupendra Shah (DIN: 08163535) from his position as Non-Executive Director. The resignation became effective at the close of business hours on September 24, 2026. In his letter, Shah cited pre-occupation in other activities as the sole reason for stepping down, confirming no other material reasons existed for his departure. He held no directorships in other listed entities.

Governance Changes Overview

What the Numbers Show

The simultaneous exit of one director and entry of two high-profile individuals with defence and administrative backgrounds signals a strategic pivot in Aerpace Industries' governance framework. The appointment of Aramane, with over 30 years of experience in defence and infrastructure, alongside Bhandari’s military expertise, suggests a potential focus on leveraging these sectors for future advisory guidance, although no specific business targets were disclosed in the filing.