Cella Space appoints three directors, approves ₹2 crore preference share redemption
Cella Space Limited has confirmed the appointment of Ms. Kolluru Bala Naga Manimala and Mr. Benny John as independent directors, and Mr. Vignesh Rajkumar as a non-independent director. Additionally, the board approved the redemption of ₹2 crore worth of non-convertible redeemable preference shares, citing sufficient divisible profits.
*this image is generated using AI for illustrative purposes only.
Cella Space Limited appointed three additional directors on July 23, 2026, and approved the redemption of non-convertible redeemable preference shares aggregating to ₹2 crore. The Board of Directors finalized the appointments of Ms. Kolluru Bala Naga Manimala and Mr. Benny John in the independent category, alongside Mr. Vignesh Rajkumar in the non-independent category. The move strengthens the company’s governance structure with expertise spanning healthcare, taxation, and industry operations.
The board also sanctioned the redemption of 20,00,000 Non-Convertible Redeemable Preference Shares of ₹10 each, totaling ₹2 crore. This decision was taken based on the company’s sufficient divisible profits as per unaudited financial results for the period ending June 30, 2026. The board noted a legal opinion obtained in a previous meeting to ensure compliance with regulatory requirements under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Director Appointments
The appointments were made in compliance with Regulation 30 of the SEBI LODR Regulations, 2015, and SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Disclosures regarding the new directors are detailed below:
| Name | Category | Key Experience |
|---|---|---|
| Ms. Kolluru Bala Naga Manimala | Independent | Healthcare leader with 35 years of cross-sector experience in healthcare delivery, CSR strategy, energy, construction, and education. |
| Mr. Benny John | Independent | Former Chief Commissioner of Income Tax with extensive experience in Direct Tax matters under the Central Board of Direct Taxes. |
| Mr. Vignesh Rajkumar | Non-independent | Professional with over 15 years of industry experience; son of Managing Director Rajkumar Sivathanupillai. |
Ms. Kolluru Bala Naga Manimala brings significant experience in corporate social responsibility and healthcare delivery, which aligns with the company’s broader operational interests. Mr. Benny John’s background in direct taxation provides specialized regulatory insight. Mr. Vignesh Rajkumar, who is related to the managing director, joins as a non-independent director, bringing industry experience to the boardroom.
Preference Share Redemption
The approval to redeem the preference shares indicates the company’s current liquidity position allows for such capital restructuring. The redemption is funded from divisible profits, ensuring no dilution of equity capital. The board confirmed that all procedural requirements, including legal validations, have been satisfied prior to this approval.
The meeting was chaired by Rajkumar Sivathanupillai, Managing Director and Vice Chairman, who signed the intimation submitted to BSE Limited. The company’s security code is 532701 and ISIN is INE266H01014.
Historical Stock Returns for Cella Space
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.98% | +33.87% | +20.89% | +105.26% | +66.00% | +279.43% |
How will the integration of Ms. Kolluru Bala Naga Manimala's healthcare expertise influence Cella Space's strategic focus or potential expansion into health-tech sectors?
What specific tax optimization strategies or regulatory compliance improvements can be expected under the guidance of former Chief Commissioner of Income Tax Mr. Benny John?
Does the redemption of ₹2 crore in preference shares signal a shift in capital allocation priorities, such as increased dividend payouts or reinvestment in core operations?
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