Grovy India Limited has approved a comprehensive restructuring of its senior management and leadership framework. The Board of Directors, at its meeting held on June 12, 2026, appointed Mr. Prakash Chand Jalan as the Managing Director & Chairperson for a period of five years, subject to shareholder approval. This strategic realignment aims to strengthen the company's executive hierarchy and leverage the extensive experience of its leadership in the real estate sector.

The Board approved the cessation of Mr. Nishit Jalan from the position of Whole-time Director & Chief Executive Officer and his subsequent appointment as Chief Financial Officer with effect from June 12, 2026. Additionally, Mr. Ankur Jalan ceased his role as Chief Financial Officer to take up the position of Non-Executive Director, also effective June 12, 2026. These transitions are part of a broader reshuffle designed to optimize the company's management structure.

The following table outlines the approved changes in roles for the key personnel:

Mr. Prakash Chand Jalan possesses extensive experience in business strategy, project development, and corporate management. The disclosures confirm that he is related to Mr. Nishit Jalan, Mrs. Anita Jalan, and Mr. Ankur Jalan. The resignations of Mr. Nishit Jalan and Mr. Ankur Jalan from their previous posts were submitted pursuant to this proposed restructuring, with no other material reasons cited.

The intimation regarding these appointments and cessations has been submitted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 04:00 P.M. and concluded at 05:30 P.M. on June 12, 2026.

Grovy India Limited has scheduled a board meeting for June 09, 2026, to consider a final dividend of ₹0.10 per share for the financial year ended March 31, 2026. The board will also evaluate proposals to raise capital through the issuance of equity shares or convertible securities via preferential or rights issues. Additionally, the directors will discuss increasing the authorized share capital and altering the capital clause of the Memorandum of Association.

The meeting agenda includes the consideration and approval of the Director's Report, Annual Report, and related annexures for FY26. The board will fix the date, time, and venue for the 41st Annual General Meeting (AGM) and approve the notice for the same. Re-appointment of Mrs. Anita Jalan, a director retiring by rotation, is also on the agenda.

Further, the board will consider an increase in the remuneration of the Chief Executive Officer and Chief Financial Officer. The trading window for designated persons and their immediate relatives closed on June 2, 2026, and will remain shut until 48 hours after the declaration of the board meeting outcome, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Key Agenda Items