Fiberweb (India) Limited has announced significant changes to its board composition and committee structure following a board meeting held on March 27, 2026. The spunbond nonwoven fabrics manufacturer has implemented these changes in compliance with SEBI regulations and the Companies Act, 2013.

Director Resignation

Mrs. Soniya Sheth (DIN: 02658794) has resigned from her position as director of the company, with her resignation taking effect from the end of business hours on March 27, 2026. In her resignation letter, Mrs. Sheth cited increasing preoccupation with other professional commitments as the primary reason for her decision, stating that she was unable to devote the necessary time and attention required to fulfill her responsibilities in the role.

New Director Appointment

Based on the recommendation of the Nomination and Remuneration Committee, the board has approved the appointment of Mrs. Reena Gupta (DIN: 11516950) as an Additional Non-Executive Director with immediate effect from March 27, 2026. The appointment is subject to approval by the company's shareholders.

Mrs. Reena Gupta is a graduate with valuable international experience, currently working with one of the Fortune 500 companies in the United States. Her professional background and expertise are expected to contribute significantly to the company's growth and governance.

Committee Reconstitution

Following Mrs. Soniya Sheth's resignation, the board has reconstituted three key committees to maintain regulatory compliance. Mrs. Sheth's departure from her roles in the Nomination and Remuneration Committee, Sexual Harassment Committee, and Corporate Social Responsibility Committee necessitated these changes.

Meeting Details and Compliance

The board meeting commenced at 12:00 P.M. IST and concluded at 01:00 P.M. IST on March 27, 2026. The company has confirmed that Mrs. Reena Gupta is not debarred from holding the office of director by virtue of any SEBI order or other authority, making her eligible for the appointment.

The changes have been communicated to both BSE Limited and National Stock Exchange of India Limited in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also provided detailed disclosures as required under the applicable SEBI circulars for the directorate changes.

Fiberweb (India) Limited promoter Bhavesh Pravin Sheth has announced his intention to acquire 16,00,000 equity shares of the company through an inter-se transfer by way of gift from fellow promoter Pravin V Sheth. The proposed acquisition represents 5.56% of the company's total share capital and is expected to be completed on or after April 1, 2026.

Transaction Details

The share transfer has been disclosed under Regulation 10(5) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction qualifies for exemption from open offer requirements under Regulation 10(1)(a)(i) as it constitutes an inter-se transfer of shares among qualifying persons who are immediate relatives.

Shareholding Pattern Changes

The proposed acquisition will significantly alter the shareholding pattern of the promoter group. Bhavesh Sheth's individual holding will increase substantially, while Pravin V Sheth's stake will be reduced correspondingly.

Individual Shareholding Impact

Overall Promoter Group Holdings

The total promoter group shareholding will remain unchanged at 46.80%, as this represents an internal restructuring among promoters and their persons acting in concert (PACs).

Regulatory Compliance

Bhavesh Sheth has declared compliance with all conditions specified under Regulation 10(1)(a) regarding exemptions from open offer requirements. The acquirer has confirmed that both transferor and transferee will comply with applicable disclosure requirements under Chapter V of the Takeover Regulations, 2011.

Since the shares are being transferred as a gift between immediate relatives, pricing considerations under SEBI regulations are not applicable to this transaction. The disclosure has been filed with both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements.