Alicon Castalloy Limited has announced key changes to its board composition, with the appointment of a new director and the resignation of an existing board member, both taking effect on the same date in May 2026.

Board Appointment Details

Following recommendations from the Nomination & Remuneration Committee, the company's Board of Directors approved the appointment of Mr. Ishaan Rai as Additional Director during their meeting on April 17, 2026. The appointment will become effective from May 12, 2026, subject to shareholder approval through a postal ballot process.

Professional Background

Mr. Ishaan Rai brings diverse professional experience spanning legal, corporate, and media sectors. He holds a B.Sc. (Hons.) in Anthropology from University College London and an LL.B. from ILS Law College, Pune. His career began as a lawyer with AZB & Partners, where he advised on merger & acquisition, private equity, and corporate financing transactions.

His legal experience includes:

• Structuring multiple M&A transactions in the infrastructure sector
• FDI deals in the retail sector
• Advisory on SEBI regulatory matters
• Setting up Alternate Investment Funds

He subsequently transitioned to the media and entertainment sector, gaining experience across creative, strategy, and production management functions.

Board Resignation

Concurrently, Ms. Pamela Rai, serving as a Non-executive Non-Independent Director, has submitted her resignation from the board. Her departure is attributed to other commitments and will take effect from May 12, 2026.

Family Connections

The board changes involve family relationships within the company's leadership structure. Mr. Ishaan Rai is the son of Mr. S. Rai, who serves as Managing Director, and Ms. Pamela Rai, the departing Director. This transition represents a generational change in the family's board representation.

Regulatory Compliance

The company has made the necessary disclosures pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The announcement confirms that Mr. Ishaan Rai is not debarred from holding the office of Director pursuant to any SEBI order or order of any such authority, as required under relevant BSE and NSE circulars dated June 20, 2018.

alicon castalloy has announced the allotment of 75,000 equity shares following a Board of Directors meeting held on April 17, 2026. The shares have been issued against the exercise of an equal number of options by employees of the company under the Employees Stock Options Scheme-2022.

ESOP Allotment Details

The company has allotted 75,000 equity shares with a face value of Rs.5/- each. These shares were issued to employees who exercised their options under the ESOP-2022 scheme. The allotment was approved by the Board of Directors in its meeting conducted on April 17, 2026.

Regulatory Compliance

The disclosure regarding the ESOP allotment has been made in compliance with the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both BSE Limited and National Stock Exchange of India Limited about the allotment. The scrip code for the company is 531147 and it trades under the symbol ALICON on the exchanges.

The communication was signed by Vimal Kumar Gupta, Chief Financial Officer of the company, on behalf of Alicon Castalloy Ltd.