Shanthi Gears has appointed Sai Krishna Alluri as its new Chief Financial Officer, effective September 3, 2026. The appointment marks a leadership change in the company's finance function.

Leadership appointment details

The Board of Directors approved the appointment during a meeting held on September 3, 2026. Mr. Alluri takes over from Mr. Sukanta Kumar Panigrahi, who ceases to be the Interim CFO of the company with immediate effect.

Mr. Alluri is a qualified Chartered Accountant and Cost Accountant with over 16 years of experience in finance, accounts, GST, income tax, funding, and cost reduction initiatives. His previous associations include National Plastics Group, TNQ Group, MORF Private Limited, and Saibaba Polymer Technologies Private Limited.

Additional senior management changes

The board also announced changes in the human resources function. Ms. Helena Susan has been appointed as Head – Human Resources and designated as Senior Management Personnel (SMP). She brings over 22 years of HR experience, having previously worked with Elgi Equipments Limited and Rane Group.

Consequently, Mr. Victor Dharmaraj transitions to new roles and responsibilities within the organization and ceases to be an SMP. The change is part of an internal organizational restructuring.

Tube Investments of India Limited has increased its equity stake in Shanthi Gears to 73.16%. The acquisition involved the purchase of 20,64,713 shares through a block deal executed on August 21, 2026.

The move represents a 2.69% increase in the promoter’s holding relative to the total voting capital. Tube Investments filed the disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, with both the National Stock Exchange and BSE Limited.

Transaction Details

Shareholding Structure

Prior to this transaction, Tube Investments held 5,40,57,475 shares, constituting 70.46% of the total share capital. Following the acquisition, its total holding stands at 5,61,22,188 shares.

The total equity share capital of Shanthi Gears remained unchanged at 7,67,15,853 shares before and after the transaction. There were no encumbrances, pledges, or convertible securities involved in this specific acquisition.

Promoter Group Disclosure

The filing identifies Tube Investments as part of the promoter group. The disclosure lists numerous entities within the Murugappa Group as persons acting in concert or part of the promoter group, though the filing explicitly states that these entities are not acting in concert with the acquirer for the purpose of this specific acquisition. No other persons acting in concert were reported for this transaction.