Avantel independent director Myneni Narayana Rao ceases to be director

Independent Director Myneni Narayana Rao ceased to be a director of Avantel effective the close of business hours on June 24, 2026, following the completion of his second consecutive term. The cessation was intimated to the stock exchanges via a regulatory filing submitted on the same date.

The Board of Directors of Avantel Limited recorded its appreciation for the guidance and contributions made by Mr. Rao during his tenure. The company clarified that the cessation was solely due to the completion of his term and not due to resignation or any other reason.

The disclosure was made in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing included specific details regarding the director's cessation as required by SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023.

Details of Director Cessation

Particulars	Details
Name of the Director	Mr. Myneni Narayana Rao (DIN: 00577494)
Reason for Change	Completion of second consecutive term as Independent Director
Date of Cessation	June 24, 2026
Additional Information	Cessation is due to completion of tenure and not due to resignation or any other reason

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.06%	+0.41%	+4.84%	+4.70%	+4.14%	-12.41%

Avantel Limited has secured a contract worth ₹9.94 crore from the Defence Research and Development Organisation (DRDO), Ministry of Defence, Government of India, for the development and testing of satellite terminals for GSAT. The order, dated June 8, 2026, is inclusive of applicable taxes and is domestic in nature. The project carries a 24-month warranty period and is scheduled for execution by December 2028.

Contract Details

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the promoters, promoter group, or group companies have no interest in the entity awarding the contract. Furthermore, the transaction does not fall within related party transactions.

The following table outlines the key particulars of the order:

Particulars	Description
Name of the entity awarding the order:	DRDO, Ministry of Defence, Government of India
Significant terms and conditions:	Warranty Period: 24 Months
Nature of order:	Manufacturing & Service
Time period for execution:	December 2028
Broad consideration:	₹9.94 Crores (Incl. Taxes)