Amalgamated Electricity Company Limited convened a Board of Directors meeting on May 18, 2026, at its registered office in Mumbai. The meeting commenced at 4.00 P.M. and concluded at 4.35 P.M., during which the board approved a series of key corporate governance decisions, including multiple appointments and a significant promoter reclassification, all disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Appointments Approved by the Board

The board approved three distinct appointments at the meeting, strengthening the company's secretarial and compliance framework. The following table summarises the appointments made:

Whole-time Company Secretary

Mr. Abhijit K.R. has been appointed as the Whole-time Company Secretary of the company effective May 18, 2026. He is an Associate Member of the Institute of Company Secretaries of India and brings 10 years of experience as a Company Secretary. No relationships between directors were disclosed in connection with this appointment.

Company Secretary Consultant

M/s Anushree Keshav & Associates, represented by Ms. Anushree Keshav, a Practising Company Secretary, has been appointed as Company Secretary consultant effective May 18, 2026. Ms. Keshav is an Associate Member of the Institute of Company Secretaries of India with 16 years of experience as a Company Secretary. No relationships between directors were disclosed in connection with this appointment.

Secretarial Auditor

M/s Sharvari Kulkarni and Associates, Practising Company Secretaries, represented by Ms. Sharvari Sham Kulkarni, has been appointed as Secretarial Auditor for conducting the Secretarial Audit of the company for financial year 2025-26, effective May 18, 2026. Ms. Kulkarni is an Associate Member of the Institute of Company Secretaries of India with 10 years of experience as a Company Secretary. No relationships between directors were disclosed in connection with this appointment.

Promoter Reclassification of Apurva Investments Company Private Limited

The board also approved the reclassification of Apurva Investments Company Private Limited (CIN: U65923MH1982PTC026040) from "Promoter Group" to "Promoter" of the company. The key details of this reclassification are as follows:

Apurva Investments Company Private Limited had historically been classified as part of the Promoter Group in various statutory filings under the Companies Act, 2013 and SEBI regulations, owing to the association of its earlier shareholders with the then-existing promoter/promoter group entities of the company. On the request of all other Promoters and Promoter Group, the company filed a reclassification application under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to reclassify certain entities from "Promoter" or "Promoter Group" to "Public." The board noted a letter dated May 16, 2026, received from Apurva Investments Company Private Limited confirming its willingness to be reclassified from "Promoter Group" to "Promoter."

Board Meeting Details

The disclosures were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023. The outcome was communicated to the Bombay Stock Exchange by Aradhana Kurup, Director, on behalf of Amalgamated Electricity Company Limited.

Amalgamated Electricity Company Limited has filed a disclosure dated May 6, 2026, under Regulation 31A(8)(c) read with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing BSE Limited of an ongoing promoter reclassification process. The development follows intimation letters sent to the exchange on April 9, 2026, and April 10, 2026, pertaining to requests received from seven promoter entities seeking a change in their shareholder category.

Promoters Seeking Reclassification

Seven entities from the 'Promoter and Promoter Group' category have formally requested reclassification to the 'Public' category. The combined shareholding of these entities stands at 2,496 shares, representing 0.12% of the total shareholding. The table below provides a breakdown of each entity's holdings:

Regulatory Application Filed with BSE

In compliance with Regulation 31A(3) of the SEBI (LODR) Regulations, 2015, the company submitted an application on April 15, 2026, to BSE Limited along with all requisite documents, seeking the exchange's no-objection or approval for the proposed reclassification. The company has stated that further steps with respect to the reclassification will be undertaken in due course, in compliance with the applicable SEBI LODR Regulations.

Disclosure and Transparency

The disclosure was signed by Aradhana Kurup, Executive Director of the company, on behalf of Amalgamated Electricity Company Limited. The company has indicated that updates relating to this reclassification will be made available on its official website at www.aecl.net.in . The filing underscores the company's adherence to regulatory disclosure obligations as prescribed under SEBI's listing framework.