Orissa Minerals Development Company Ltd has appointed Shri Prafulla Jaipuria as the LIC Nominee Director on its board, replacing Shri TR Mallick. The appointment was communicated by the Life Insurance Corporation of India (LIC) via letter dated 29.05.2026. The company's board approved the change through a resolution by circulation on 07.07.2026.

Shri Prafulla Jaipuria, Secretary General of the Insurance Institute of India, Mumbai, will represent LIC on the board of Orissa Minerals Development Company Ltd. The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The transition follows LIC's communication regarding the change in representation due to its shareholding in the company. The outgoing director, Shri TR Mallick, has been replaced effective from the date of the LIC communication.

Appointment Details

The table below outlines the key details regarding the directorial change:

LIC specified that the new nominee is entitled to sitting fees, bonus, commission on profits, and fixed remuneration as per the company's Articles of Association. However, as Shri Prafulla Jaipuria holds the charge of Executive Director in LIC, all payments must be made via NEFT to the Life Insurance Corporation of India's account with Kotak Mahindra Bank Ltd.

The Orissa Minerals Development Company Limited has appointed Shri MNVS Prabhakar as Non-Executive Chairman of its board, effective May 25, 2026. He succeeds Shri Manish Raj Gupta, who served as the ex-CMD (Additional Charge) of Rashtriya Ispat Nigam Limited (RINL). The appointment follows a nomination received from RINL, the ultimate holding company of Orissa Minerals Development Company Limited.

Shri Prabhakar currently serves as the Chairman & Managing Director of RINL, a position he assumed on May 12, 2026. The company confirmed that he is not related to any director of Orissa Minerals Development Company Limited and is not debarred from holding the directorship by SEBI or any other authority. The board composition remains compliant with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

A distinguished technocrat, Shri Prabhakar brings over three decades of experience in the Indian steel sector. Prior to his current role at RINL, he served as Executive Director of NMDC Steel Limited (NSL) from February 1, 2025. During his tenure at NSL, he led operational and financial turnaround initiatives, stabilising plant operations and improving techno-economic parameters.

Shri Prabhakar began his career with Steel Authority of India Limited (SAIL) in 1991 as a Management Trainee (Technical) after completing his Bachelor of Engineering in Metallurgy from VRCE, Nagpur. He later acquired an MBA in HR & Marketing. His career includes leadership roles across operational units and functional domains, with a focus on safety, digital initiatives, and environmental sustainability.

The appointment was communicated to the stock exchanges via a filing dated May 26, 2026. The necessary disclosures regarding the change in directorship were made under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.