Carraro India Limited has appointed Dheeraj Kumar Rai as Director of Manufacturing and designated him as a Senior Management Personnel (SMP), effective October 1, 2026. This appointment follows the superannuation of Sanjay Kumar, who served as Director of Manufacturing until September 30, 2026.

Board approval and regulatory compliance

The appointment was approved by the Board of Directors on September 28, 2026, based on the recommendation of the Nomination and Remuneration Committee. The company informed BSE and NSE about this change in senior management personnel pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Profile of new director

Dheeraj Kumar Rai brings extensive experience in manufacturing operations and operational excellence. He holds a Bachelor's degree in Mechanical Engineering from Government Engineering College, Jabalpur, and a Master of Technology from Maulana Azad National Institute of Technology, Bhopal. His professional background includes roles at Tata Cummins, Meritor India, Suzlon Energy, and Asia Motor Works.

Transition details

The leadership transition ensures continuity in manufacturing oversight. Sanjay Kumar’s cessation as SMP was effective from the close of business hours on Wednesday, September 30, 2026. Rai’s role focuses on ensuring overall equipment effectiveness and driving operational excellence within the company’s manufacturing division.

This change reflects standard succession planning within the company’s senior management structure, with no disclosed impact on financial performance or strategic direction at this stage.

3P India Equity Fund has increased its shareholding in Carraro India Limited to 5.06% through an open market acquisition. The fund purchased 200,000 fully paid equity shares on September 18, 2026.

Prior to this transaction, the acquirer held a 4.71% stake in the company. The recent purchase of 0.35% of the total share capital pushed the aggregate holding past the 5% threshold, triggering the mandatory disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The acquisition involved multiple schemes managed by 3P Investment Managers Private Limited. These include 3P India Equity Fund 1, 3P India Equity Fund 1M, and 3P India Equity Fund 2M. The shares acquired carry voting rights and have a face value of ₹10 each.

The acquirer does not belong to the promoter or promoter group of the target company. Carraro India Limited is listed on both BSE Limited and National Stock Exchange of India Limited. The total equity share capital of the company remains unchanged at ₹56,85,15,380, comprising 5,68,51,538 equity shares.