Indraprastha Gas Limited has successfully concluded its postal ballot process, with shareholders approving two material related party transaction resolutions through remote e-voting. The company declared the voting results on April 01, 2026, following the completion of the e-voting period that ran from March 02, 2026 to March 31, 2026.

Voting Results Overview

The postal ballot covered two ordinary resolutions, both receiving overwhelming shareholder support. The voting was conducted exclusively through remote e-voting, with the cut-off date for eligible shareholders set as February 19, 2026.

Resolution Details

GAIL (India) Limited Transaction

The first ordinary resolution addressed material related party transactions with GAIL (India) Limited. Out of 1168 voters who participated, 1112 voted in favour while 56 voted against the resolution. The resolution achieved 99.99% approval from the votes polled.

BPCL Transaction Resolution

The second resolution concerned material related party transactions with Bharat Petroleum Corporation Limited. This resolution saw 1094 voters supporting and 80 opposing, resulting in 99.20% approval from the total votes cast.

Shareholder Participation Analysis

Notably, the promoter and promoter group abstained from voting on both resolutions, with institutional investors showing strong participation at 92.11%. The company had 361399 total shareholders on the record date.

Process and Compliance

The postal ballot was conducted in accordance with Section 110 of the Companies Act, 2013, and SEBI LODR Regulations, 2015. Agarwal S. & Associates served as the scrutinizer for the voting process, ensuring transparency and compliance with regulatory requirements. The e-voting facility was provided by Kfin Technologies Limited, with the voting period concluding at 5:30 p.m. IST on March 31, 2026.

Both resolutions were classified as ordinary resolutions, with the promoter and promoter group having declared interest in the agenda items. The successful approval of these resolutions enables the company to proceed with the proposed material related party transactions with both GAIL and BPCL.

Indraprastha Gas Limited has announced a significant leadership change with the appointment of Shri Subhankar Sen as Chairman, effective April 01, 2026. The Board of Directors approved this transition through a resolution passed by circulation on March 31, 2026, marking the end of Shri Raj Kumar Dubey's tenure in the same role.

Leadership Transition Details

The chairman change follows the company's established governance structure, where promoter companies GAIL and BPCL nominate the Chairman on a rotational basis for two-year terms. The transition details are outlined below:

Shri Raj Kumar Dubey had been serving as Chairman since May 01, 2025. However, due to his superannuation from BPCL, the promoter company has nominated Shri Subhankar Sen as his replacement.

New Chairman's Professional Background

Shri Subhankar Sen brings extensive experience to his new role as Chairman of Indraprastha Gas Limited. Currently serving as Director (Marketing) at Bharat Petroleum Corporation Ltd (BPCL), he oversees comprehensive marketing functions across multiple business verticals.

Key Responsibilities at BPCL

Sen's current portfolio at BPCL encompasses diverse business areas:

• Retail operations and fuel station networks
• LPG distribution and marketing
• Lubricants business development
• Aviation fuel services
• Industrial and commercial segments
• Gas business operations
• Consumer retailing initiatives

Career Achievements and Expertise

With over three decades of industry experience, Sen has demonstrated leadership across various strategic initiatives. His notable contributions include leading BPCL's MAK Lubricants business through research and development initiatives, focusing on indigenisation drives aligned with "Atmanirbhar Bharat" objectives.

Business Expansion and Innovation

Sen has successfully expanded lubricant business operations across multiple international markets including India, Nepal, Bangladesh, Sri Lanka, UAE, and Africa. His leadership in retail operations involved managing a network of 6000 energy stations, driving market growth through technology and digital solutions.

Strategic Brand Development

Throughout his career, Sen has contributed to building pioneering brands and strategic initiatives:

• Pure for Sure fuel quality assurance
• Speed premium fuel offerings
• PetroBonus loyalty programs
• SmartFleet commercial solutions
• BPCL-SBI co-branded credit cards
• In&Out convenience stores
• UFill fuel delivery services

Energy Transition Leadership

Sen has played a crucial role in BPCL's energy transition initiatives, particularly in electric vehicle charging infrastructure development. As Oil Industry Coordinator, he led the eDrive program focusing on "EV Fast Charging Corridors" and worked closely with government policy makers on energy transition strategies.

Governance and Compliance

The newly appointed Chairman meets all regulatory requirements for the position. Sen has no relationships with other Directors and is not debarred from holding directorial positions by SEBI or other authorities. He does not hold any shares in Indraprastha Gas Limited, ensuring independence in his governance role.