HG Infra Engineering Limited has announced a significant change in its senior management team with the resignation of Col Satyajeet Ghoshal from his position as Chief of Staff. The infrastructure company informed the stock exchanges about this development in compliance with regulatory requirements.

Senior Management Departure

Col Satyajeet Ghoshal, who served as Chief of Staff and was categorized as Senior Management Personnel (SMP), has tendered his resignation citing personal reasons. The resignation becomes effective from the closure of business hours on March 30, 2026.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. HG Infra Engineering Limited formally notified both BSE Limited and National Stock Exchange of India Limited about the senior management change.

The notification was signed by Ankita Mehra, Company Secretary & Compliance Officer, and included the required annexures detailing the change in senior management personnel. The company provided comprehensive documentation including the resignation letter and regulatory disclosures as mandated by stock exchange requirements.

Management Transition

In his resignation letter addressed to Chairman and Managing Director Harendra Singh, Col Ghoshal expressed gratitude for the opportunities provided during his tenure. He requested to be relieved from his duties in accordance with company rules, with the effective date set for March 30, 2026.

The departure represents a change in the company's senior management structure, though the company has not announced any immediate replacement or restructuring plans in the current disclosure.

HG Infra Engineering Limited has announced the completion of a significant stake transfer in one of its subsidiaries, marking a strategic divestment move. The company has transferred 49% of its stake in H.G. Khammam Devarapalle PKG-1 Private Limited to Neo Infra Income Opportunities Fund on March 30, 2026.

Transaction Details

The stake transfer was executed under a Securities Purchase Agreement dated January 15, 2026, with completion achieved on March 30, 2026. The transaction involves a total consideration of ₹233.77 crore for the entire Special Purpose Vehicle (SPV).

Financial Performance of Subsidiary

H.G. Khammam Devarapalle PKG-1 Private Limited contributed significantly to the parent company's consolidated financials for the financial year ended March 31, 2025.

Buyer Information

The buyer, Neo Infra Income Opportunities Fund, is a registered scheme under Neo Credit Alternatives Investment Trust, a Category II Alternative Investment Fund registered with SEBI. The fund is managed by Neo Alternative Asset Managers Private Limited, having its registered office in Mumbai. The company has confirmed that the buyer does not belong to the promoter, promoter group, or group companies.

Regulatory Compliance

The transaction has been disclosed under Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. HG Infra Engineering has confirmed that this transaction does not fall under related party transactions and is not structured as a slump sale.

Impact on Corporate Structure

Following the transfer of 49% stake, H.G. Khammam Devarapalle PKG-1 Private Limited ceases to be a wholly owned subsidiary of HG Infra Engineering Limited. However, with the company retaining 51% ownership until the second tranche completion, it continues to remain a subsidiary. The remaining 51% stake transfer is scheduled to be completed in accordance with the terms and conditions of the transaction documents by June 30, 2026.