Premier Capital Services Ltd completed a significant leadership overhaul on September 28, 2026, following a change in the company's promoters. The Board of Directors approved the appointment of four new directors while accepting the resignations of the Chief Executive Officer, Chief Financial Officer, and five other board members.

The corporate action stems from a Share Purchase Agreement dated February 14, 2025, executed with the Acquirers. All resignations were tendered in accordance with the terms of this agreement to facilitate the transition of control.

New director appointments

The Nomination and Remuneration Committee recommended the appointment of two Non-Executive Non-Independent directors and two Independent Directors. These appointments are effective from September 28, 2026, subject to shareholder approval at the forthcoming General Meeting.

Mr. Manas Ranjan Palo and Ms. Iranee Tripathy have been recommended for a first term of five consecutive years, commencing September 28, 2026, and ending September 27, 2031, contingent on member approval via Special Resolution.

Executive and board resignations

Six key personnel stepped down from their roles effective the closure of business hours on September 28, 2026. The resignations include the entire top management layer previously associated with the former promoters.

• Deepti Dubey: Resigned as Chief Executive Officer and Key Managerial Personnel.
• Rajendra Kumar Mungar: Resigned as Chief Financial Officer and Key Managerial Personnel.
• Manoj Sumatikumar Kasliwal: Resigned as Non-Executive Director.
• Sharda Manoj Kasliwal: Resigned as Non-Executive Director.
• Aman Sanghvi: Resigned as Independent Director.
• Neeraj Goenka: Resigned as Independent Director.

Each resignation letter confirmed that there were no other material reasons for departure other than those specified in the Share Purchase Agreement. The Board placed on record its appreciation for the valuable contributions made by these individuals during their tenure.

Governance transition context

The simultaneous exit of the CEO, CFO, and multiple directors indicates a complete structural reset of the company's governance framework. The appointments of Mr. Kothari and Mr. Choudhury bring operational experience in agro-business and general management, respectively. In contrast, the independent directors bring technical and legal expertise, with Mr. Palo specializing in e-learning solutions and Ms. Tripathy pursuing professional qualifications in company secretaryship and law.

The meeting commenced at 3:00 pm and concluded at 4:45 pm. Disclosures required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, were submitted to BSE Limited.

The Hitesh Kothari group has acquired a 33.16% stake in Premier Capital Services Limited through an open offer, marking a significant shift in the company’s promoter structure.

The acquisition was completed on September 15, 2026, following an off-market transaction initiated by promoter Pumarth Infrastructure Private Limited. The seller disposed of its entire holding to a consortium led by Hitesh Kothari and his associated entities.

Transaction Details

The shares were transferred pursuant to a Share Purchase Agreement dated February 14, 2025. Following this disposal, Pumarth Infrastructure’s shareholding in the company has reduced to nil. The total equity share capital of Premier Capital Services remains unchanged at ₹3,70,60,920, divided into 3,70,60,920 equity shares of ₹1 each.

The acquirers, who are now deemed part of the Promoter/Promoter Group, hold the following stakes:

Regulatory Disclosure

Mr. Hitesh Kothari filed the disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 with the BSE Limited on September 17, 2026. The filing confirms that the acquisition of 1,22,89,780 equity shares was executed via an open offer from Pumarth Infrastructure, which belongs to the previous promoter group.