Atishay Limited has secured a rate contract from the State Election Commission, Karnataka for the printing of State Voter Identity Cards (SVIC) and other enclosures. The company, acting as the prime bidder in a consortium with M/s Gundal Business Private Limited, will execute the work for five City Corporations under the Greater Bengaluru Authority. This award reinforces the company's position in the election management and electoral services sector.

The rate contract is valid for a period of one year from the date of issuance of the Work Order and shall remain valid up to May 2027. The agreement includes a provision for extension by up to six months in accordance with the terms and conditions of the tender documents. The company will execute the project based on timelines and guidelines issued by the authority.

Contract Details

The project is a service tender classified as a domestic rate contract. The total consideration is rate-based, meaning no fixed monetary value is assigned at the outset. The final value will depend upon the actual quantity of work orders issued by the Authority during the contract period, though the expected potential value is described as significant. Key details of the contract are outlined below:

Existing Engagement with SEC Karnataka

Atishay Limited is already executing a separate 5-year rate contract awarded by SEC Karnataka for the preparation of electoral databases and printing of Photo Electoral Rolls across 31 districts in the state. This new work order reflects the authority's continued confidence in Atishay Limited's execution capabilities and technical expertise.

Atishay Limited appointed Mr. Sanjay Gupta as a Non-Executive Independent Director and Mr. Atishay Jain as an Executive Whole-Time Director and Key Managerial Personnel at its Annual General Meeting held on May 26, 2026. The appointments, effective from April 24, 2026, were approved by shareholders based on the scrutinizer's report received on the meeting date. These changes aim to strengthen the company's governance and operational leadership with experienced professionals.

Appointment Details

Mr. Sanjay Gupta (DIN: 00371317) was appointed for a term of three consecutive years ending April 23, 2029. He will not be liable to retire by rotation during this tenure. Mr. Atishay Jain (DIN: 07176829) was appointed for a period of five years ending April 23, 2031, and will be liable to retire by rotation. The Board had initially appointed both individuals as Additional Directors in April 2026 prior to shareholder approval.

Director Profiles

Mr. Sanjay Gupta brings over three decades of experience in capital market operations and financial management. His expertise includes processing public issues, share transfer agency services, and stock broking operations. He is a science graduate with a strong background in handling large-scale financial data and regulatory environments.

Mr. Atishay Jain is a qualified Chartered Accountant and a Level I CFA pass-holder. He previously served as Vice President of Operations and has experience in risk management and financial advisory from his tenure at Profectus Capital and Fintoo. His focus areas include strengthening internal controls, underwriting frameworks, and driving data-driven decision-making through advanced analytics.

Disclosures

Mr. Sanjay Gupta confirmed he is not debarred from holding the office of director by any SEBI order and is not disqualified under Section 164 of the Companies Act, 2013. He is not related to any other director or key managerial personnel of the company. Mr. Atishay Jain is an immediate relative of the Managing Director & Promoter of the company and also provided the necessary affirmations regarding his eligibility.