Indraprastha Gas Limited has scheduled a postal ballot to secure shareholder approval for the appointment of Shri Kumar Shanker as Managing Director. The resolution seeks ratification for his tenure effective from June 05, 2026, to June 04, 2029, or until further orders are received from GAIL (India) Limited, whichever is earlier. The appointment is subject to the terms and conditions forwarded by GAIL, including remuneration details specified in its office orders and letters dated February 27, 2026, June 02, 2026, and June 04, 2026.

Voting Schedule and Process

The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting process. Shareholders eligible to vote are those whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date, Friday, July 03, 2026. The remote e-voting period begins on Wednesday, July 22, 2026, at 09:00 hours IST and concludes on Thursday, August 20, 2026, at 17:30 hours IST. The results of the postal ballot are scheduled to be announced on or before Monday, August 24, 2026.

Scrutinizer and Oversight

To ensure the conduct of the postal ballot and e-voting is fair and transparent, the Board has appointed Mr. Sachin Agarwal of M/s Agarwal S. & Associates as the Scrutinizer. In his absence, CS Shweta Jain will assume the role. The Scrutinizer will submit a report to the Chairman or the Managing Director upon completion of the scrutiny process.

Remuneration and Terms

Shri Kumar Shanker’s remuneration package includes a basic pay of ₹2,62,820 per month, Variable Dearness Allowance of ₹142,186, HRA of ₹78,846, perquisites and allowance of ₹91,987, and a secondment allowance of ₹11,250. The Variable Dearness Allowance is subject to quarterly changes. The company will reimburse all expenses, including contributions towards Provident Fund, Pension, and Gratuity, to GAIL as per his service conditions.

Director Background

Shri Kumar Shanker, a Chemical Engineer from B.I.T.S. Pilani, brings over three decades of experience in the natural gas industry. His expertise spans commissioning and operations of gas processing plants, project management, corporate strategy, and regulatory functions. He currently holds a directorship at Maharashtra Natural Gas Limited (MNGL) and has no shareholding in Indraprastha Gas Limited. The Board recommends the resolution for shareholder approval.

indraprastha gas witnessed a notable block trade on the National Stock Exchange (NSE), with a transaction valued at ₹19.44 crores. The deal involved approximately 1,201,297 shares, executed at a price of ₹161.79 per share, reflecting substantial institutional interest in the stock.

Block Trade Details

The following table summarizes the key parameters of the block trade recorded on the NSE:

Block trades are large-volume transactions typically executed between institutional participants outside the regular open market order book, and are often indicative of significant portfolio activity by institutional investors or large stakeholders.