Gujarat Industries Power Company Limited has announced the appointment of Shri Jenu Devan, IAS, as Additional Director (Nominee of Government of Gujarat) following a board meeting held on 17th March, 2026. The appointment was approved upon recommendation of the company's Nomination and Remuneration Committee.

Board Meeting Outcome

The company's Board of Directors convened on 17th March, 2026, to deliberate on key governance matters. The primary outcome was the approval of Shri Jenu Devan's appointment as Additional Director, representing the Government of Gujarat's interests on the board.

Professional Background

Shri Jenu Devan is an IAS officer of the 2006 batch with strong academic credentials. He holds a Master of Commerce degree from MG University Kottayam and an MA in Public Policy from Indira Gandhi National Open University, New Delhi.

Throughout his career, Shri Devan has held several important positions within the Government of Gujarat:

• District Development Officer of Dahod and Narmada
• Deputy Municipal Commissioner of Vadodara
• District Collector of Banaskantha
• Managing Director of Tourism Corporation of Gujarat Limited
• Superintendent of Stamps and Inspector General (Registration), Government of Gujarat

Current Responsibilities

Currently serving as Secretary (Expenditure) in the Finance Department, Government of Gujarat, Shri Devan also holds key positions in other state enterprises. He serves as Managing Director in Madhya Gujarat Vij Company Limited and as a Director in Gujarat Fibre Grid Network Limited.

Regulatory Compliance

The company has confirmed that Shri Jenu Devan is not related to any existing directors and is not debarred from holding the office of director by virtue of any SEBI order or other regulatory authority. The appointment details have been disclosed in accordance with SEBI Listing Regulations and SEBI circular SEBI/HO/CFD/CFD-PoD2/CIR/P/0155 dated November 11, 2024.

The notification was signed by CS Shalin Patel, Company Secretary and Compliance Officer, and communicated to both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements.

Gujarat Industries Power Company Limited has announced a postal ballot notice dated 20th February, 2026, seeking shareholder approval for critical corporate governance matters. The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate the remote e-voting process for all eligible shareholders.

Key Resolutions for Shareholder Approval

The postal ballot covers two ordinary resolutions that require shareholder consent:

Director Appointment Details

Shri Sanjay S. Bhatt was appointed as Additional Director and nominee of Gujarat Alkalies & Chemicals Limited (GACL) with effect from 12th February, 2026. He brings over 30 years of experience across various organizations, holding senior positions in legal, finance, corporate communications, and CSR functions. Currently serving as Company Secretary & Executive Director (Legal, CC & CSR) with Gujarat Alkalies and Chemicals Limited, he holds qualifications including Masters in Commerce, Bachelor of Law, and Fellowship of the Institute of Company Secretaries of India.

Material Related Party Transactions

The company seeks approval for significant related party transactions for the financial year 2026-27, involving three key entities:

These transactions are conducted under various Power Purchase Agreements (PPAs) and Memorandums of Understanding dating from 1989 to 2023, covering multiple power generation facilities including gas-based power stations, solar power plants, and wind farms.

E-Voting Process and Timeline

The remote e-voting facility will operate during the following period:

Shareholders whose names appear in the Register of Members or list of Beneficial Owners as on the cut-off date and have registered email addresses with depositories or depository participants are eligible to participate in the e-voting process.

Regulatory Compliance and Materiality

The proposed related party transactions exceed the materiality threshold of 10% of the company's annual consolidated turnover as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Based on the company's previous year annual turnover of Rs. 1,25,625.72 lakhs for FY 2024-25, these transactions require shareholder approval due to their material nature.

CS Shailja Pandya (Membership No. A37665, C.P. No. 14206), Practising Company Secretary, has been appointed as Scrutinizer to oversee the postal ballot process. The results will be declared within two working days from the conclusion of the e-voting process and communicated to stock exchanges and uploaded on the company's website.