Pakka Limited has announced a key leadership appointment, naming Mayank Jindal as Business Head effective April 9, 2026. The appointment was approved by the Board of Directors on April 7, 2026, based on recommendations from the Nomination and Remuneration Committee, bringing significant industry expertise to the company's senior management team.

Board Approval and Regulatory Compliance

The appointment follows proper corporate governance procedures, with the Board of Directors approving Jindal's appointment on April 7, 2026. The company has fulfilled its regulatory obligations by disclosing the appointment under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency for stakeholders and stock exchanges.

Professional Background and Expertise

Jindal brings over 35 years of specialized experience in the pulp and paper industry, combining deep technical expertise with global exposure across India and international markets. His career spans work with renowned organizations including JK Paper in India, Double A in Thailand, and PT Toba Pulp Lestari in Indonesia. An alumnus of IIT Roorkee with a Bachelor's degree in Pulp and Paper Engineering, Jindal has played pivotal roles in building and strengthening large integrated pulp and paper operations.

Strategic Leadership Capabilities

Throughout his career, Jindal has demonstrated expertise in mill operations, process optimization, and continuous improvement, consistently driving efficiency, scale, and performance across organizations. His global experience and industry insight position him to contribute meaningfully to Pakka Limited's operational excellence and sustainable growth initiatives.

Corporate Governance Confirmation

As part of the regulatory disclosure, Pakka Limited confirmed that Jindal is not related to any Director or Key Managerial Personnel of the company, ensuring independence in his role. The company also verified that he is not debarred from holding office by SEBI or any other regulatory authority, maintaining compliance with corporate governance standards.

Pakka Limited's board of directors concluded their meeting on April 7, 2026, approving a significant preferential issue worth ₹129.91 crore. The meeting, which was previously rescheduled due to unavoidable circumstances, commenced at 5:00 PM IST and concluded at 9:18 PM IST.

Board Meeting Outcomes

The board approved two major components of the preferential issue as outlined in their regulatory filing:

Preferential Allotment Details

The equity shares component totaling ₹29,92,00,000 will be allocated to Neo Alternative Asset Managers' funds, including Neo Special Credit Opportunities Fund, Neo Special Credit Opportunities Fund II, Neo Special Credit Opportunities Fund II A, and Neo Credit Opportunities Fund I. These are non-promoter public investors who currently hold zero shares in the company.

The warrants component worth ₹99,99,00,000 will be issued to Yash Agro Products Limited, a promoter group entity. The fully convertible warrants can be converted into equity shares within 18 months from the allotment date, either in one or multiple tranches.

Shareholding Impact

The preferential issue will significantly alter the company's shareholding pattern:

Regulatory Compliance and Next Steps

The preferential issue is being undertaken in accordance with Sections 42 and 62(1)(c) of the Companies Act, 2013, and Chapter V of SEBI (ICDR) Regulations, 2018. The company has scheduled an Extraordinary General Meeting (EGM) on May 5, 2026, at 5:00 PM through video conferencing to seek shareholder approval for the proposed preferential issue.

The relevant date for determining the minimum issue price has been set as April 3, 2026, being 30 days prior to the EGM date. The company will obtain in-principle approval from stock exchanges under Regulation 28 of SEBI (LODR) Regulations prior to allotment. The regulatory filing was signed by Sachin Kumar Srivastava, Company Secretary & Legal Head, and submitted to both NSE and BSE.