Sapphire Foods India Ltd has appointed Vikram Agarwal as a Non-Executive Nominee Director on its Board, effective June 19, 2026, following the resignation of Vinod Nambiar. The change was communicated to the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Agarwal represents the promoter shareholder, Sapphire Foods Mauritius Limited, and his appointment is subject to the approval of the company's members.

Vinod Nambiar resigned from the office of Non-Executive Nominee Director on June 19, 2026, citing certain pre-existing professional engagements as the reason. His resignation was accepted by the Board of Directors, and he has also stepped down from the membership of any Board Committees he was part of. There were no other material reasons stated for his resignation.

The appointment of Vikram Agarwal was approved by the Board based on the recommendation of the Nomination and Remuneration Committee. He has been designated as an Additional Director in the capacity of Non-Executive Nominee Director. His term is liable to retire by rotation. Agarwal is a Chartered Accountant and a commerce graduate with over 18 years of experience in private equity.

Profile of Vikram Agarwal

Vikram Agarwal is currently the Managing Director and Chief Financial Officer at Samara India Advisors Private Limited. He oversees financial reporting, compliance, legal, and governance work within the firm. Previously, he spent over seven years in the tax and regulatory practice at PwC Delhi. He is not related to any other Director of the company and is not debarred from holding the office of Director by any SEBI order or other authority.

Board Changes Summary

HDFC Mutual Fund has reduced its shareholding in Sapphire Foods India Limited by 2.84%, bringing its total stake down to 6.76% as on June 16, 2026. The transaction involved the sale of 91,20,384 equity shares through the open market. This change was disclosed to the stock exchanges in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to this sale, the aggregate holding of the Schemes of HDFC Mutual Fund stood at 9.60% of the paid-up equity share capital. The paid-up equity share capital of Sapphire Foods India Limited is Rs. 64,27,65,810, comprising 32,13,82,905 equity shares of Rs. 2 each. The acquirer has confirmed that it does not belong to the promoter or promoter group of the target company.

The disclosure was submitted by Dinesh Bhakade, Lead - Compliance Governance at HDFC Asset Management Company Limited, the investment manager for the schemes of HDFC Mutual Fund. The filing detailed the specific schemes involved, including the HDFC BSE 500 ETF, HDFC Flexi Cap Fund, and HDFC Consumption Fund, among others.

Shareholding Details

The following table outlines the change in shareholding as disclosed in the filing:

The shares of Sapphire Foods India Limited are listed on BSE Limited and National Stock Exchange of India Limited. The total diluted share or voting capital of the company was reported as not applicable (N.A.) in the disclosure.