TTI Enterprise Limited has approved changing its Registrar and Share Transfer Agent (RTA) from Niche Technologies Private Limited to Purva Sharegistry (India) Private Limited to strengthen its investor services function. The company stated that the new RTA was selected for its sizeable market share, expertise, and infrastructure in providing RTA services. The transition is subject to the execution of definitive agreements under applicable statutes.

The effective date of the change will be intimated to the stock exchanges in due course. Until the completion of data transition, shifting of electronic connectivity, and other related procedures, Niche Technologies Private Limited will continue to serve as the company's RTA. The company also requires necessary confirmations from NSDL and CDSL before the switch is finalized.

Details of the Change

The company provided the following details regarding the change in RTA as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

The formalities for the change, including documentation, execution of agreements, and transition of data, will be completed by the company in due course. The announcement was made by Hemant Agarwal, Executive Director of TTI Enterprise Limited.

TTI Enterprise accepted the resignations of Managing Director Sabu Thomas and Independent Director Shashank Suhalka on July 2, 2026. The board simultaneously appointed Mithun Wales as the new Managing Director and Nikhil Gehlot as an Independent Director to fill the vacancies, subject to shareholder approval. These changes necessitated the reconstitution of the company's key board committees.

Sabu Thomas resigned as Managing Director, Director, and Key Managerial Personnel citing personal reasons and an inability to devote the required time and attention to his duties. Shashank Suhalka stepped down as Independent Director due to preoccupation and other professional commitments. Both directors confirmed there were no material reasons for their resignations beyond those stated in their letters.

Following the recommendations of the Nomination and Remuneration Committee, the board approved the appointment of Mithun Wales as an Additional Executive and Managing Director for a period of five years effective July 2, 2026. The company also appointed Nikhil Gehlot as an Additional and Independent Director for an initial term of five years from the same date. The board confirmed that Gehlot meets the independence criteria provided under Section 149(6) of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Board Composition and Profiles

Mithun Wales is a seasoned finance and business leader with experience in auditing, banking consultancy, corporate finance, and digital business management. He holds a Bachelor of Commerce (Honours) degree, completed CA Intermediate in 2009, and acquired a Post Graduate Diploma in Business Management in Construction and Project Management from NICMAR, Pune. Nikhil Gehlot is a detail-oriented accounting professional with a Master's degree in Commerce and experience in data management, reporting, and financial documentation. Neither appointee is related interse to any other director of the company as of the appointment date.

Committee Reconstitution

Consequent upon the appointments and resignations, the board reconstituted the Nomination & Remuneration and Stakeholder's Relationship committees effective July 2, 2026.

Nomination and Remuneration Committee

Stakeholder Relationship Committee

The appointments of Wales and Gehlot are subject to the approval of the members at the ensuing Annual General Meeting.