KPI Green Energy Limited has appointed Prof. Sunil Kumar Maheshwari as Vice-Chairman (Non-Executive Director) of its Board, effective July 03, 2026. The appointment, subject to shareholder approval, aims to strengthen the company's governance and strategic leadership as it expands its operations in the power and energy sectors. The Board approved the appointment based on the recommendation of the Nomination and Remuneration Committee, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Prof. Maheshwari brings nearly four decades of experience across academia, public sector leadership, and industry engagement. He served as Professor of Human Resource Management and Strategy at the Indian Institute of Management Ahmedabad (IIMA) and was Dean (Alumni and External Relations) at the institute. An alumnus of IIT Delhi, he began his career with Bharat Heavy Electricals Limited (BHEL) and served in the Indian Railway Personnel Service (IRPS), holding senior human resource leadership responsibilities.

His advisory roles include serving as Advisor to the Minister of Human Resource Development, Government of India, from 2009 to 2013. He has also served on the boards of institutions such as UCO Bank, Andhra Bank, and NTPC School of Business. His consulting work has focused on strategic transformation, leadership development, organizational restructuring, and business turnaround across the power, energy, and infrastructure sectors.

Board Composition Changes

KPI Green Energy has granted 75,000 stock options to an eligible employee under its Employee Stock Option Plan 2023. The options carry an exercise price of Rs. 35 per share, as approved by the company's Nomination and Remuneration Committee on July 03, 2026. Each option will convert into one equity share with a face value of Rs. 5.

The vesting schedule spans four years, requiring a minimum vesting period of one year. The structure allows for the options to be exercised within three months from the date of vesting. Shares issued upon exercise will be freely transferable without any lock-in period.

Vesting Schedule

The options will vest in the following tranches:

Key Terms

The scheme is compliant with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The maximum vesting period for any option granted will not exceed five years from the date of grant. Any options not exercised within the specified period will lapse.