NIBE Ltd accepts resignation of Prakash Hari Khose as CEO effective Jun 25, 2026

NIBE Ltd has accepted the resignation of Mr. Prakash Hari Khose from the position of Chief Executive Officer and Key Managerial Personnel, effective from the close of business hours on June 25, 2026. The executive stepped down citing personal reasons, concluding his tenure with the firm. The company has confirmed that there are no material reasons for the resignation other than those stated in his resignation letter.

The development was disclosed to BSE Limited and the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing included necessary details as required under Schedule III of the regulations and a specific SEBI circular dated January 30, 2026. Komal Bhagat, the Company Secretary and Compliance Officer, signed the regulatory submission.

Mr. Prakash Hari Khose formally tendered his resignation to the Board of Directors, requesting that all requisite intimations and filings with the Registrar of Companies and stock exchanges be completed within the prescribed timelines. He expressed his appreciation for the guidance and support provided by the Board and senior management during his tenure.

Details of Cessation

The following table outlines the key particulars regarding the change in leadership:

Sr. No	Particulars	Details
1	Reason for change	Resignation of Mr. Prakash Hari Khose as Chief Executive Officer, due to personal reason
2	Date of cessation	Effective from close of business hours on June 25, 2026
3	Brief profile	Not Applicable
4	Detailed reasons for resignation	Mr. Prakash Hari Khose has confirmed that there are no material reasons for his resignation other than those mentioned in his resignation letter
5	Enclosure of resignation letter	Enclosed herewith as Annexure II
6	Name of listed entities in which resigning Independent Director holds Directorship/Board Committee Membership	Not Applicable

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.91%	-11.02%	+0.77%	+19.69%	-10.42%	-7.06%

Nibe Limited has appointed Mr. Rajagopalan Madhavan as an Independent Director for a term of five years effective March 25, 2026. The appointment follows the conclusion of a postal ballot process where shareholders passed the requisite resolution with 99.99% of votes polled. The decision was confirmed based on the results declared on June 19, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Rajagopalan Madhavan was initially appointed as an Additional Director in the capacity of Non-Executive, Independent Director by the Board in its meeting held on March 25, 2026. He is a Mechanical Engineer graduate from NIT Raipur with a postgraduate M. Tech from IIT Madras. Previously, he served as the chairman and Managing Director of Hindustan Aeronautics Limited. He is not related to any of the Directors of the Company and is not debarred from holding the office of Directors by virtue of any SEBI order or order of any other such Authority.

The postal ballot was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, and the relevant SEBI Listing Regulations. Mr. Gaurav Thakur, a Practicing Cost Accountant, was appointed as the Scrutinizer to oversee the process. The voting was conducted electronically via the NSDL e-voting portal from May 20, 2026, to June 18, 2026.

Voting Results Summary

Category	Votes For	Votes Against	% For	% Against
Promoter and Promoter Group	79,69,771	0	100	0
Public-Non Institutions	1,89,747	196	99.89	0.11
Total	81,59,518	196	99.99	0.01

A total of 81,59,714 votes were polled, representing 54.61% of the total outstanding shares. The record date for determining eligibility was May 15, 2026. The detailed scrutinizer's report has been uploaded to the company's website.