JSW Dulux Limited (formerly akzo nobel India Limited) has announced the relocation of its corporate office from Gurugram to Mumbai, effective 1st April 2026. The company informed both BSE and NSE about this corporate development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Office Relocation Details

The corporate office has been shifted from its previous location at 9th Floor, Magnum Towers, Sector 58, Gurugram 122 011 to a new address in Mumbai. The relocation represents a strategic move to establish the corporate headquarters in India's financial capital.

Regulatory Compliance

The announcement was made through official intimation to stock exchanges on 2nd April 2026. Company Secretary and Compliance Officer Rajiv L Jha, who also serves as General Counsel, signed the regulatory filing digitally. The communication was addressed to both major Indian stock exchanges where the company's shares are listed.

Key Clarifications

JSW Dulux Limited specifically clarified that the relocation affects only the corporate office, with no changes being made to the company's registered office address. This distinction is important for regulatory and legal purposes, as the registered office remains the official address for statutory communications and legal proceedings.

The new corporate office is strategically located in Mumbai's Bandra Kurla Complex, a prominent business district that houses numerous corporate headquarters and financial institutions. This move aligns the company's corporate operations with Mumbai's status as India's commercial and financial hub.

JSW Dulux Limited has issued a comprehensive postal ballot notice dated March 23, 2026, seeking shareholder approval for eight special business items through remote e-voting. The company has now published newspaper notifications regarding the postal ballot process as required under regulatory compliance.

Regulatory Compliance and Notification

On March 30, 2026, JSW Dulux Limited informed the stock exchanges about the publication of newspaper notifications regarding the postal ballot notice. The notifications were published in All India editions of Business Standard (English) and Kolkata edition of Aajkaal (Regional) newspapers on March 28, 2026, as communicated to BSE Limited and National Stock Exchange of India Limited under Regulation 30.

Director Appointments

The postal ballot includes proposals for appointing two new directors to the board. Mr. Kaustubh Sudhakar Kulkarni (DIN: 08246083) is proposed for appointment as a Non-Executive Non-Independent Director through an ordinary resolution. He currently serves as Group Head – Banking, M&A and Strategic Financing at JSW Steel Ltd with 29 years of experience in debt capital markets and financing solutions.

Ms. Sutapa Banerjee (DIN: 02844650) is proposed for appointment as an Independent Director for a three-year term from March 23, 2026 to March 22, 2029 through a special resolution. She brings over three decades of experience in financial services, having worked with multinational banks including ANZ Grindlays and ABN AMRO.

Employee Stock Option Scheme 2026

The company seeks approval for JSW Dulux Limited – Employee Stock Option Scheme 2026 covering up to 3,75,124 employee stock options. The scheme will be implemented through an irrevocable employee welfare trust named 'JSW Dulux ESOP Trust' with secondary acquisition of shares.

The scheme extends benefits to eligible employees of the company, its subsidiary companies, and holding company, both in India and overseas. The exercise price per option will be the market price on the date of grant, subject to not being less than the face value.

Voting Process and Timeline

The postal ballot will be conducted exclusively through remote e-voting, with no physical ballot forms being dispatched. The voting timeline and key dates are structured as follows:

Only shareholders whose names appear in the register of members or beneficial owners as on the cut-off date of March 20, 2026, and whose email addresses are registered with the company, depositories, or registrar will be eligible to vote.

Corporate Governance and Compliance

The appointments are being sought in compliance with Regulation 17(1C) of SEBI Listing Regulations, which requires shareholder approval for director appointments within three months. The company must ensure at least half of its board comprises independent directors due to the non-executive chairman's relationship with the promoter group.

The ESOP scheme complies with Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, and includes provisions for fair adjustment in case of corporate actions such as rights issues or bonus issues.

Additional Proposals

The postal ballot also includes approval for amendments to the Articles of Association to enable equity share issuance under employee benefit schemes. The company seeks separate approvals for extending ESOP benefits to subsidiary and holding company employees, implementing the scheme through trust route, and providing financial assistance to the trust for share acquisition.

Shareholders can access the complete postal ballot notice on the company's website at www.akzonobel.co.in and on stock exchange websites. The results will be announced within two working days and displayed at the registered office and company website.