Updater Services has accepted the resignation of Samriti Malhotra as Chief Human Resources Officer, effective close of business on September 7, 2026. The departure follows a management decision to flatten the organizational structure and bring the HR function under direct Board oversight.

Ms. Malhotra decided to pursue opportunities outside the UDS Group following this structural change. Executive Director Jigyasa Sarma will now assume direct charge of the HR function and the People agenda.

Structural Changes

The company stated that the move aims to ensure the HR function receives direct attention from the Board and its Executive Members. As a consequence of this change, the Head of HR position will no longer be considered a member of Senior Management with effect from September 7, 2026.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Sandhya Saravanan signed the intimation to the BSE and NSE on September 8, 2026.

SIS Limited has increased its stake in Updater Services to 10% of the paid-up equity share capital following an open market acquisition.

The acquirer purchased 17,86,545 equity shares on September 4, 2026, representing a 2.67% addition to its holding. This transaction was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Acquisition Details

Prior to this acquisition, SIS Limited held 49,10,768 shares, constituting 7.33% of the target company’s voting rights. The new purchase brings the total shareholding to 66,97,313 equity shares.

The mode of acquisition was specified as the open market. There were no encumbrances, pledges, or convertible securities involved in the transaction.

What the Numbers Show

The acquisition precisely positions SIS Limited at the 10% threshold of the paid-up equity capital. While the holding stands at 10.00% of the issued capital, it represents 9.84% of the diluted share capital, which accounts for outstanding stock options totaling 68,04,5783 equity shares (total diluted capital). This divergence highlights the impact of potential dilution from employee stock options on voting power concentration.