Everest Industries Limited has invested ₹14.99 crore in its wholly owned subsidiary Everest Buildpro Private Limited (EBPL) through the acquisition of partly paid-up equity shares. The transaction was completed on March 25, 2026, as part of the subsidiary's rights issue.

Investment Details

The investment involved the acquisition of 154,150 partly paid-up equity shares at ₹973 per share on application. The shares carry a face value of ₹10 each with a premium of ₹8,289 per equity share, though the company paid ₹973 per share initially, comprising a face value of ₹5 and premium of ₹968 per share.

About Everest Buildpro Private Limited

Everest Buildpro Private Limited was incorporated on March 31, 2023, and operates in the manufacturing industry with a focus on boards and panels production. The subsidiary has demonstrated significant growth in its business operations since inception.

The subsidiary's turnover increased substantially from ₹19.77 lakh in FY 2023-24 to ₹15.68 crore in FY 2024-25, reflecting strong business growth and operational expansion.

Transaction Structure and Compliance

The investment falls under related party transactions as EBPL is a wholly owned subsidiary of Everest Industries Limited. The transaction has been conducted at arm's length and complies with regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Purpose and Impact

The investment is intended for business requirements and general corporate purposes of the subsidiary. Since Everest Industries Limited maintains 100% ownership both before and after the transaction, there is no change in the shareholding pattern of EBPL. The company has confirmed that promoter/promoter group/group companies have no interest in EBPL except for the shares held by the company itself.

The rights issue was originally structured for 154,165 partly paid-up equity shares aggregating to ₹1,27,94,15,335 at an issue price of ₹8,299 per equity share, with Everest Industries Limited acquiring 154,150 shares as part of this offering.

Everest Industries Limited has announced key leadership changes in its risk management and internal audit functions, with the Board of Directors approving the appointment of Mr. Niranjan Gokhale as Internal Auditor and Chief Risk Officer effective April 8, 2026.

Board Approval and Appointment Details

The company's Board of Directors approved this appointment during their meeting held on March 26, 2026, following a recommendation from the Audit Committee. This strategic move ensures continuity in critical governance positions following the resignation of the existing Internal Auditor and Chief Risk Officer, which takes effect on April 7, 2026.

Professional Background and Qualifications

Mr. Niranjan Gokhale brings extensive educational credentials and professional experience to his new role. He holds an MBA from McMaster University, Canada, and a Master of Science in Industrial & Systems Engineering from Lehigh University, USA. His undergraduate degree is in Mechanical Engineering from the College of Engineering, Pune University, India. Additionally, he is certified by the American Production and Inventory Control Society, USA.

Career Experience

With over 30 years of senior management experience across diverse industries, Mr. Gokhale has demonstrated expertise in multiple functional areas:

• Growth and diversification strategies
• Business development
• Product and project management
• Finance operations

His professional journey spans three continents, with experience in North America, India, and South Africa across discrete and process manufacturing industries.

Industry Experience and Leadership Roles

Mr. Gokhale's career began as a management consultant at Coopers & Lybrand's New York Office. He subsequently held leadership positions at several prominent organizations including Ford Motor Company in Global Finance, Tata Industries' Strategic Management Group, Cummins, Deepak Fertilizers, and Foskor.

His industry expertise covers multiple domains:

• Automotive
• Biotechnology
• Chemicals
• Construction
• Engineering
• Mining
• Petrochemicals
• Renewables

Current Role at Everest Industries

Mr. Gokhale has been serving Everest Industries Limited for the past 6 years as Head-Strategy. In this capacity, he has been responsible for various strategic areas, including internal control systems and risk management, making him well-positioned for his expanded responsibilities as Internal Auditor and Chief Risk Officer.

Regulatory Compliance

This appointment has been communicated to both the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has indicated that it continues to identify permanent candidates for these positions while ensuring operational continuity through this interim arrangement.