Gallantt Ispat Limited has completed its major management restructuring by appointing two new directors following the resignation of three key personnel. The Board of Directors approved the new appointments at its meeting held on March 31, 2026, with both appointments effective from April 1, 2026.

Key Personnel Resignations

The Board of Directors approved and took note of resignations from three senior positions, all effective from close of business hours on March 31, 2026:

New Director Appointments

The company announced two strategic director appointments effective April 1, 2026:

Both appointments are subject to approval of shareholders in the ensuing General Meeting.

Leadership Profiles

Dindayal Jalan brings over four decades of experience in large-scale metals and mining businesses. He is a Chartered Accountant who previously served as Group CFO of Vedanta Resources Plc UK and CFO of Vedanta Limited until superannuation in September 2016. He currently holds Independent Director roles within the Vedanta and HDFC Groups and possesses deep expertise in enhancing shareholders value through improved capital management and operational efficiencies.

Atul Kumar Gupta served as Chief Secretary to the Government of Uttar Pradesh from May 2008 until superannuation on March 31, 2011. During his tenure, he was instrumental in several legal and procedural innovations that enabled the highest ever growth rate of 23% for State finances. He has also been associated with companies such as Godfrey Phillips India Limited and Pakka Limited as Independent Director for 10 years each.

CFO Transition

Sandip Kumar Agarwal tendered his resignation as Chief Financial Officer and Key Managerial Personnel, citing pre-occupation and other personal reasons. The company has appointed Pradyumna Kumar Satpathy as the new CFO effective April 1, 2026, bringing over 28 years of comprehensive finance management expertise from JSW Steel, Jayaswal Neco Industries, and Bhushan Power and Steel.

Regulatory Compliance

Gallantt Ispat Limited fulfilled all regulatory requirements by notifying BSE Limited (Scrip Code: 532726) and National Stock Exchange of India Limited (Symbol: GALLANTT) about these management changes under Regulation 30 of SEBI LODR Regulations. The communication was signed by Nitesh Kumar, Company Secretary (M. No. F7496), with comprehensive documentation as required under SEBI Master Circular dated November 11, 2024.

Gallantt Ispat Limited has received another regulatory disclosure regarding equity share acquisition by its promoter group entity. Gallantt Industry Private Limited acquired an additional 10,000 equity shares through open market purchase on March 23, 2026, following its previous acquisitions of 24,355 shares on March 20, 2026, 15,537 shares on March 19, 2026, and 76,000 shares on March 18, 2026.

Latest Transaction Details

The recent acquisition demonstrates continued investment confidence by the promoter group entity in the steel manufacturing company:

Updated Shareholding Position

Following the latest acquisition, Gallantt Industry Private Limited's shareholding in Gallantt Ispat Limited has increased:

Cumulative Promoter Group Holdings

The combined promoter group, consisting of Gallantt Industry Private Limited and 34 other entities and individuals acting in concert, now holds:

Key Promoter Group Entities

The promoter group includes major stakeholders such as Chandra Prakash Agrawal (37.093%), Madhu Agrawal (8.444%), Santosh Kumar Agrawal (7.005%), Dinesh R Agarwal (5.807%), and Prem Prakash Agrawal (5.351%), among others. CP Agrawal Daughters Trust holds 2.072% of the total equity.

Regulatory Compliance

The disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. The filing was authorized by Smriti Agrawal, Director of Gallantt Industry Private Limited, with DIN: 10040203.

Company Overview

Gallantt Ispat Limited's equity shares are listed on BSE Limited and National Stock Exchange of India Limited. The company maintains a total equity capital of 24,12,80,945 equity shares of ₹10 each. These consecutive acquisitions by the promoter group entity reflect sustained confidence in the company's business prospects and strategic direction.