New Light Industries Limited has witnessed a complete exit by its promoter group, with Sandeep Makkad and his associates disposing of their entire stake in the company through off-market transactions. The substantial disposal, involving 22,54,760 equity shares representing 2.58% of the company's total share capital, was executed between February 16, 2026, and March 5, 2026.

Complete Promoter Exit Details

The disposal involved three key promoter group members who collectively held 2.58% stake in the company before the transaction. The transaction details are presented below:

Regulatory Compliance and Disclosure

The transaction triggered mandatory disclosure requirements under Regulation 29(2) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as it involved a change of more than 2% of the total issued and paid-up share capital. Sandeep Makkad, as the primary promoter, filed the necessary disclosure with BSE Limited on March 30, 2026.

Company Share Capital Structure

New Light Industries Limited maintains its equity share capital structure unchanged following the promoter exit:

The company's total diluted share capital remains at Rs. 8,76,00,150, consisting of 8,76,00,150 equity shares of Rs. 1/- each, as there are no outstanding convertible securities or warrants.

Transaction Characteristics

The disposal was executed through off-market transactions, indicating private transfers rather than open market sales. The transaction period spanned from February 16, 2026, to March 5, 2026, suggesting a structured exit process by the promoter group. Following this complete divestment, the promoter group no longer holds any equity shares, voting rights, or encumbrances in New Light Industries Limited.

The company, formerly known as New Light Apparels Limited, continues to be listed on BSE Limited, with its share capital structure remaining intact despite the significant change in promoter shareholding pattern.

New Light Industries Limited announced significant leadership changes and other key decisions following its Board of Directors meeting held on March 23, 2026. The company has appointed Mr. Saurabh Agrawal as both Managing Director and Chief Financial Officer, while accepting the resignation of Mrs. Himanshi Sharma from both these positions.

Leadership Transition Details

The Board approved the appointment of Mr. Saurabh Agrawal (DIN: 08592095) as Additional Director designated as Managing Director for a period of one year, effective March 23, 2026. This appointment is subject to shareholder approval under the provisions of the Companies Act, 2013. Simultaneously, he was also appointed as Chief Financial Officer pursuant to Section 203 of the Companies Act, 2013.

New Leadership Profile

Mr. Saurabh Agrawal brings over two decades of experience across fintech, e-commerce, and telecom sectors. He has previously served in leadership roles including CTO and Head of Engineering, with expertise in building and scaling large digital platforms. His areas of specialization include:

• Digital payments and AI-driven products
• Enterprise technology architecture
• Business transformation through emerging technologies
• Developer velocity and innovation management

Resignation and Transition

Mrs. Himanshi Sharma resigned from her positions as Managing Director and Chief Financial Officer due to prior professional commitments. Her cessation from both roles took effect from the close of business hours on March 23, 2026. The Board acknowledged her contributions and placed on record its appreciation for her guidance and dedication during her tenure.

Other Board Decisions

Secretarial Auditor Appointment

The Board re-appointed M/s. Shashank Kumar & Associates as Secretarial Auditors for FY 2025-2026. The firm, with Registration No. S2018UP715500, is a peer-reviewed Company Secretary firm based in Ghaziabad, Uttar Pradesh. This appointment comes after the previous auditor M/s. Sumit Bajaj & Associates resigned from their position.

Acquisition Update

The Board took note of the proposed acquisition of Jonquil Global Private Limited for diversification into the automobile parts sector. However, considering the extended due diligence process, the Board decided to temporarily defer this proposal. The matter will be reconsidered upon completion of due diligence and receipt of necessary regulatory approvals.

The Board meeting commenced at 2:00 PM and concluded at 3:00 PM on March 23, 2026. All decisions were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.