Twamev Construction CEO resigns due to ill health effective June 30

Jasodeb Chakraborty has resigned as the Chief Executive Officer of Twamev Construction and Infrastructure Limited effective from the close of business hours on June 30, 2026, due to ill health and ongoing medical issues. The Board of Directors accepted the resignation, necessitating the completion of statutory and regulatory formalities under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In his resignation letter dated June 30, 2026, Chakraborty stated that his medical condition requires immediate attention, preventing him from discharging his duties effectively. He expressed gratitude to the Board, management, and colleagues for their support and requested that the necessary steps be taken to formalize the departure.

Key Details of the Resignation

Aspect	Details
Resigning Official	Jasodeb Chakraborty
Position	Chief Executive Officer (CEO)
Effective Date	June 30, 2026
Reason	Ill health and ongoing medical issues

The disclosure was submitted to BSE Limited and National Stock Exchange of India Limited by Neha Saraf, Company Secretary. The company is expected to initiate the process for appointing a new CEO to fill the vacancy created by this departure.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.95%	-10.15%	-41.65%	-48.28%	-54.26%	-63.93%

Promoter Ravi Todi intends to sell 30,00,000 equity shares, representing 1.94% of the total paid-up equity share capital of Twamev Construction & Infrastructure , through the open market to comply with Minimum Public Shareholding (MPS) requirements. The divestment is scheduled to commence on June 22, 2026, and conclude on June 30, 2026, or upon the completion of the sale, whichever is earlier. This move aims to align the company's shareholding structure with the norms prescribed by the Securities and Exchange Board of India (SEBI).

The proposed sale follows the provisions of Rule 19(2)(b) and Rule 19A of the Securities Contracts (Regulation) Rules, 1957, and Regulation 38 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that this specific transaction will not fully satisfy the MPS obligation and that it intends to utilize other permissible methods outlined in SEBI Circular No. SEBI/HO/CFD/P0D2/P/CIR/2023/18 dated February 3, 2023, to achieve complete compliance.

Ravi Todi has provided a written undertaking confirming that he will not purchase or acquire any equity shares of the company in the open market on the dates the proposed sale is executed. This undertaking is in accordance with the SEBI circular dated February 3, 2023, which mandates such assurances from promoters selling shares to meet MPS norms. The company will ensure adherence to the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, during the transaction.

Details of Proposed Sale

Sr. No	Name of the Promoter	No. of Equity Shares proposed to be sold	% of total equity share capital proposed to be sold
1	Mr. Ravi Todi	30,00,000	1.94%
	Total	30,00,000	1.94%

Timeline and Compliance

The divestment process will occur over a specific window, starting on June 22, 2026, and ending on June 30, 2026. The table below outlines the key event details as required under the SEBI circular.

Sr. No	Details of the event to be provided	Particulars
1	Intention of the Promoter to sell and the purpose of sale	The Promoter intends to sell equity shares to enable compliance with MPS requirements mandated under SCRR and Listing Regulations.
2	Details of Promoter proposing to divest	Mr. Ravi Todi proposes to sell 30,00,000 equity shares (approx. 1.94% of total paid-up equity share capital) through the open market.
3	Total number of shares and percentage proposed to be divested	30,00,000 equity shares representing approximately 1.94% of the total paid-up equity share capital.
4	Period within which the entire divestment process will be completed	From June 22, 2026 to June 30, 2026, or the actual date of completion of sale of all Equity Shares, whichever is earlier.