VST Industries Limited has formally notified stock exchanges that it does not qualify as a 'Large Corporate' under specific SEBI regulations governing debt securities issuance. The company submitted this confirmation to both BSE and NSE on April 3, 2026, through an official communication signed by its Company Secretary.

Official Communication Details

The company's formal letter addressed to the General Manager of BSE's Department of Corporate Services and the Manager of NSE's Listing Department specifically references SEBI Circular No.SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. VST Industries confirmed that it does not fulfill the criteria specified in Para 2.2 of the mentioned SEBI circular regarding fund raising by issuance of debt securities by large entities.

Document Authentication

The confirmation letter was digitally signed by Phani K. Mangipudi, Company Secretary and Vice President-Legal & Secretarial, on April 3, 2026 at 14:10:12 +05'30'. The official communication was addressed to both major stock exchanges where the company's shares are listed, ensuring comprehensive regulatory compliance.

Regulatory Compliance Framework

The SEBI circular in question establishes specific criteria for fund raising through debt securities by large entities. By confirming its non-compliance with the Large Corporate criteria under Para 2.2, VST Industries is providing transparency regarding its regulatory status. The company has requested both BSE and NSE to take this confirmation on record for their official documentation, demonstrating proactive compliance with regulatory disclosure requirements.

VST Industries Limited has issued a postal ballot notice to its shareholders seeking approval for the regularisation and appointment of Mr. Piyush Srivastava as Managing Director & Chief Executive Officer. The notice, dated March 4, 2026, was sent to BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Board Approval and Regulatory Compliance

The company's Board of Directors, based on recommendations from the Nomination and Remuneration Committee, approved the appointment of Mr. Piyush Srivastava (DIN: 10775803) as Additional Director on January 29, 2026. His regularisation as director is required within three months as mandated under SEBI Listing Regulations. The company has received all necessary disclosures and declarations confirming his eligibility for directorship under Section 164(2) of the Companies Act, 2013.

E-Voting Schedule and Process

The postal ballot will be conducted exclusively through remote e-voting, with no physical ballot forms being dispatched to members. The voting process follows the framework established under Sections 110 and 108 of the Companies Act, 2013, and related rules.

The company has appointed Mr. B.V. Saravana Kumar, Practicing Company Secretary (Membership No. ACS 26944, COP No. 11727), as Scrutinizer for conducting the postal ballot process. KFin Technologies Limited will facilitate the e-voting platform.

Professional Background and Qualifications

Mr. Piyush Srivastava brings extensive experience in the FMCG and Alco-Beverage sectors across India and Asian markets. He holds a Bachelor's degree in Engineering from the National Institute of Technology, Prayagraj, and a Master's degree in Business Administration from Xavier Institute of Management, Bhubaneswar.

Career Experience:

• Over 25 years of professional experience in FMCG and Alco-Beverage sectors
• Current role as Chief Commercial Officer at Pernod Ricard India
• Former Managing Director of Pernod Ricard for Hong Kong and Macau
• Member of Asia Executive Committee at Pernod Ricard
• Previous positions with PepsiCo, Marico, ITC-AT, and Tata Motors
• Expertise in commercial strategy, sales and distribution, and business transformation

Remuneration Structure

The proposed remuneration package for Mr. Srivastava includes multiple components designed to align with company performance and industry standards.

Additional benefits include housing allowance (maximum 30% of basic salary), provident fund contributions (up to 12% of salary), company car for official use, and participation in stock option plans worth up to 50% of basic salary per annum.

Voting Eligibility and Corporate Governance

Only members whose names appear in the Register of Members as on February 27, 2026, will be entitled to vote. The resolution requires approval by ordinary majority for passage. Corporate and institutional members must submit certified copies of Board resolutions and authority letters to the Scrutinizer.

The appointment is subject to provisions of the Companies Act, 2013, SEBI Listing Regulations, and the company's memorandum and articles of association. Mr. Srivastava holds no shares in the company and is not related to any existing directors or key managerial personnel.