BRNL Board to consider SREI reclassification to Public

Bharat Road Network Limited has received a request from its promoter, SREI Infrastructure Finance Limited (SIFL), seeking reclassification from the Promoter category to the Public category. The request, dated May 18, 2026, was received via email on the same day and references Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SIFL currently holds 1,66,30,000 equity shares, which account for 19.81% of the total paid-up equity share capital of Bharat Road Network Limited. The reclassification request is based on the premise that SIFL has not been part of the promoter or promoter group of the company since August 11, 2023, following the approval of a Resolution Plan by the National Company Law Tribunal (NCLT).

Shareholding Details

The request outlines the specific shareholding details subject to reclassification:

Sl. No.	Name	Category	No. of Equity Share Held	% of Shareholding
1.	SREI Infrastructure Finance Limited	Promoter	1,66,30,000	19.81

Background and Regulatory Context

The request follows a series of regulatory developments concerning SIFL. The Reserve Bank of India superseded the Board of SIFL in October 2021, and the NCLT initiated the Corporate Insolvency Resolution Process (CIRP) shortly thereafter. In August 2023, the NCLT approved a Resolution Plan submitted by National Asset Reconstruction Company Limited (NARCL). Consequently, the shareholding of SIFL is now primarily held by NARCL (46%), India Debt Resolution Company Limited (24%), and Approving Financial Creditors (20%).

Board Consideration and Approvals

The aforesaid request for reclassification will be tabled at the ensuing meeting of the Board of Directors of Bharat Road Network Limited. The company stated that all necessary steps will be undertaken in accordance with the applicable regulations. However, the reclassification is subject to the consideration and approval by the Board and the receipt of no-objection from the Stock Exchanges.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.03%	-0.74%	-1.61%	-18.55%	-14.72%	-30.66%

Bharat Road Network announced the appointment of Mr. Amitabh Kumar Jha as Managing Director, effective May 1, 2026, for a term of 3 years. The appointment was approved by the Board of Directors during their meeting held on April 30, 2026, based on recommendations from the Nomination and Remuneration Committee and subject to shareholder approval.

Leadership Appointment Details

The company confirmed that Mr. Jha is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India (SEBI) or any other authority. His appointment constitutes a change in key managerial personnel, classified as Unpublished Price Sensitive Information (UPSI) under SEBI regulations.

Parameter:	Details
Effective Date:	May 1, 2026
Term Duration:	3 years
Board Meeting Date:	April 30, 2026
DIN Number:	07130355
Approval Status:	Subject to shareholder approval
Meeting Duration:	3:45 P.M. to 5:15 P.M.

Professional Background and Experience

Amitabh Kumar Jha brings over 28 years of comprehensive experience in the roads, highways, and transportation sector. His expertise spans strategic planning, P&L management, and nationwide operations across large-scale portfolios.

Key Professional Highlights

Project Management: Managed over 50 national and state highway projects across India under BOT and annuity models
Leadership Roles: Previously held pivotal positions as CEO and COO in organizations including Reliance Infrastructure and L&T IDPL Invit
Core Expertise: Highway operations and maintenance, business transformation, mergers and acquisitions, and stakeholder management
Strategic Focus: Known for strategic vision, operational excellence, and commitment to sustainability, safety, and inclusive growth within the infrastructure sector

Educational Qualifications

Mr. Jha holds an impressive array of academic credentials and professional certifications:

Qualification:	Institution
Master's in Business Law:	National Law School of India University, Bangalore
Master's in Public Administration:	Not specified
PGDBA in Finance:	Symbiosis, Pune
Additional Master's Degree:	New Delhi
Advanced Management Program:	Wharton, University of Pennsylvania
Successful Negotiations Course:	University of Michigan
Contract Law Program:	Harvard University

Corporate Governance and Compliance

The company disclosed that Mr. Jha is not related to any of the current Directors on the Board, ensuring independence in governance structure. The appointment information was communicated to both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements.

Regarding trading window restrictions, the company clarified that the trading window had already been closed with effect from April 1, 2026, in connection with the declaration of Annual Audited Financial Results for the financial year ended March 31, 2026. The window will remain closed until 48 hours after the results are announced, which is why no separate disclosure was made regarding the UPSI classification of this appointment.