Fiberweb Promoter Withdraws Plan to Acquire 16 Lakh Shares Through Inter-se Transfer

Fiberweb (India) Limited promoter Bhavesh Pravin Sheth has withdrawn his earlier intimation to acquire 16,00,000 equity shares of the company through an inter-se transfer by way of gift from fellow promoter Pravin V Sheth.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 withdrawal notice was submitted on March 27, 2026, just four days after the original intimation was filed on March 23, 2026.

Original Transaction Details

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

Parameter:	Details
Transferor:	Mr Pravin V Sheth
Transferee:	Mr Bhavesh P Sheth
Shares to be Acquired:	16,00,000
Percentage of Share Capital:	5.56%
Nature of Transfer:	Gift (Inter-se transfer)
Expected Completion Date:	On or after April 1, 2026

Withdrawal Announcement

In his withdrawal notice dated March 27, 2026, Bhavesh Sheth informed both BSE Limited and National Stock Exchange of India Limited that the proposed transaction will not be undertaken. The decision has been attributed to internal restructuring considerations and change in business plans of the promoter group.

Transaction Status:	Details
Original Intimation Date:	March 23, 2026
Withdrawal Notice Date:	March 27, 2026
Reason for Withdrawal:	Internal restructuring considerations and change in business plans
Current Status:	Transaction will not be undertaken

Impact on Shareholding Pattern

With the withdrawal of this proposed transaction, the existing shareholding pattern of Fiberweb (India) Limited's promoter group will remain unchanged. Bhavesh Sheth will continue to hold his current stake of 82,49,596 shares representing 28.66% of the company's total share capital, while Pravin V Sheth will retain his holding of 16,65,565 shares representing 5.78%.

Regulatory Compliance

The withdrawal notice has been submitted to both stock exchanges as per regulatory requirements. Bhavesh Sheth has requested the exchanges to treat the aforesaid intimation as withdrawn and confirmed that no acquisition pursuant to the original notice will be made. This development ensures that all stakeholders are informed about the change in the promoter group's plans regarding the proposed share transfer.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.05%	+3.90%	-12.90%	-15.82%	-10.84%	-25.23%

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.

Parameter:	Details
Director Name:	Mrs. Soniya Sheth
DIN:	02658794
Effective Date:	March 27, 2026
Reason:	Personal reasons and other professional commitments
Other Directorships:	Managing Director at Kunststoffe Industries Limited

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.

Parameter:	Details
Director Name:	Mrs. Reena Gupta
DIN:	11516950
Position:	Additional Non-Executive Director
Effective Date:	March 27, 2026
Shareholding:	NIL
Relationship:	Spouse of Mr. Bhavesh Sheth and daughter-in-law of Mr. Pravin Sheth

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.

Committee:	Chairman/Chairperson	Members	Categories
Nomination and Remuneration Committee:	Mr. Sorabh Gupta	Mr. Dhrupal Shah, Mrs. Reena Gupta	Non-Executive & Independent Directors, Non-Executive & Non-Independent Director
Sexual Harassment Committee:	Ms. Reena Gupta	Ms. Unnati Sheth, Mr. Gopalan Ravindran	Non-Executive & Non-Independent Director, Member, Senior Employee
Corporate Social Responsibility Committee:	Mr. Sorabh Gupta	Mr. Dhrupal Shah, Mrs. Reena Gupta	Non-Executive & Independent Directors, Non-Executive & Non-Independent Director

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.