Kaya Limited shareholders approved a leadership transition and capital raise at an extraordinary general meeting held on September 5, 2026. The resolutions pave the way for Harsh Mariwala to step down as Managing Director to become Chairman.

The meeting, conducted via video conferencing in compliance with Ministry of Corporate Affairs and SEBI circulars, saw members approve four key resolutions. These included the issuance of equity shares on a preferential basis and amendments to the company’s employee stock option plan.

Leadership Changes

Shareholders approved the appointment of Mr. Harsh Mariwala as Chairman and Non-Executive Director, effective November 1, 2026. Simultaneously, Mr. Rishabh Mariwala was appointed as Managing Director for a five-year term starting on the same date.

Mr. Harsh Mariwala currently serves as Chairman and Managing Director. Mr. Rishabh Mariwala is currently a Non-Executive Non-Independent Director. The transition marks a significant shift in the company’s executive structure.

Capital and Compensation

The special resolution for the issuance of equity shares on a preferential basis was approved by shareholders. The company will issue 18,24,150 equity shares of ₹10 each at a consideration of ₹274.10 per share including premium to an identified person. This move is typically aimed at raising capital or bringing in strategic investors.

Additionally, shareholders approved amendments to the Kaya Employee Stock Option Plan, 2021. This adjustment may affect the company’s ability to attract and retain talent through equity-based compensation.

Voting Results

The scrutinizer's report confirmed that all three special resolutions and one ordinary resolution were passed with the requisite majority. A total of 18,146 shareholders were on record as of August 31, 2026. Of these, 83 members cast votes through remote e-voting, while one member voted during the meeting.

Voting Process

The EGM commenced at 10:00 am and concluded at 10:28 am. Members were provided with remote e-voting facilities from September 2 to September 4, 2026. E-voting at the meeting remained open for 15 minutes post-conclusion.

Mr. Sitansh Magia, Practicing Company Secretary, was appointed as the scrutinizer to supervise the voting process. The final results were declared by the Company Secretary after scrutiny.

Kaya Limited has accepted the resignation of Lokesh Wagadre from his position as Vice President and Head of Information Technology. The change in senior management personnel will take effect on November 30, 2026.

Wagadre submitted his resignation on September 1, 2026, citing a desire to pursue a career opportunity outside the company that aligns with his long-term professional goals. He will serve a three-month notice period to ensure a smooth transition of responsibilities.

Regulatory Disclosure

The company made the disclosure pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was issued on September 2, 2026, and filed with both the Bombay Stock Exchange and the National Stock Exchange of India.

Shilpa Rathi, Company Secretary and Compliance Officer, confirmed the details in the filing. The resignation was communicated via email to Saurav Jha, with Bindiya Vermani copied.

Transition Plan

In his resignation letter, Wagadre expressed gratitude for the opportunities provided during his tenure. He highlighted his role in leading the technology function and contributing to the organization's digital transformation initiatives.

To facilitate the handover, Wagadre committed to assisting with documentation, training, and knowledge transfer sessions with relevant stakeholders before his final date of cessation.