KP Energy Limited has appointed Prof. Sunil Kumar Maheshwari as Vice Chairman effective July 3, 2026, for a term of five years subject to shareholder approval. The Board of Directors approved the appointment based on the recommendation of the Nomination and Remuneration Committee. Concurrently, Whole-time Director Mr. Amit Khandelwal resigned from his position effective July 3, 2026, to discharge his responsibilities in another capacity within the company. The Board took note of his resignation.

Prof. Sunil Kumar Maheshwari brings nearly four decades of experience across academia, public sector leadership, and industry engagement. He is a former Professor of Human Resource Management and Strategy at the Indian Institute of Management Ahmedabad (IIMA) and an alumnus of IIT Delhi. His professional focus has significantly included the power and energy sector, alongside infrastructure, banking, and healthcare. He has previously served on the boards of UCO Bank, Andhra Bank, and NTPC School of Business, and was Advisor to the Minister of Human Resource Development, Government of India, from 2009 to 2013.

The changes in the Board composition were detailed in a filing submitted to BSE Limited and National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure confirmed that Prof. Maheshwari is not related to any other directors of the company and is not debarred from holding the office of Director by any SEBI order.

KP Group was established in 1994 and focuses on wind and solar energy projects. The appointment aims to bolster the leadership bench as the group enters its next phase of growth, leveraging Prof. Maheshwari's expertise in governance and strategic transformation.

kp energy has granted 76,000 stock options to an eligible employee under its KP Energy Limited Employee Stock Option Plan 2023. The options carry an exercise price of ₹33 per share, as approved by the company's Nomination and Remuneration Committee. Each option will convert into one equity share with a face value of ₹5 upon exercise.

The vesting schedule spans four years, requiring a minimum vesting period of one year from the date of grant. A total of 25% of the options will vest at the end of the first and second years, followed by 35% at the end of the third year and the remaining 15% at the end of the fourth year. Vested options must be exercised within three months from the date of vesting, or they will lapse.

The scheme complies with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. Shares issued upon the exercise of these options will be freely transferable with no lock-in period post-exercise. The maximum vesting period for any option granted does not exceed five years from the grant date.

ESOP Grant Details

Vesting Schedule