iStreet Network Limited, a Mumbai-based company, has made significant announcements regarding its dividend payout and board composition. The company's Board of Directors has approved an interim dividend and noted the resignation of three key board members, leading to a restructuring of various committees.

Interim Dividend Declaration

In a meeting held on August 16, 2025, iStreet Network's Board of Directors recommended an interim dividend of Rs 0.10 per equity share for the financial year 2025-26. This dividend payout is subject to shareholder approval at the upcoming Annual General Meeting. The company has set August 22, 2025, as the record date for determining eligible shareholders to receive the dividend.

Board Resignations and Restructuring

The company also announced the resignation of three directors:

1. Mr. Pradeep Malu - Non-Executive Director
2. Mr. Ravindra Kala - Independent Director
3. Mr. Suresh Jain - Independent Director

Following these departures, iStreet Network has reconstituted its various committees to ensure continued corporate governance and oversight. The restructured committees include:

1. Audit Committee
2. Nomination and Remuneration Committee
3. Stakeholder Relationship Committee
4. Independent Directors Committee
5. Risk Management Committee

New Committee Compositions

The reconstituted committees now have the following structures:

Audit Committee

Nomination and Remuneration Committee

Stakeholder Relationship Committee

Independent Directors Committee

Risk Management Committee

The company has also formed a Business Review Committee, chaired by Mr. Uttam Dave (Whole Time Director), with Mr. Rakesh Rathi (Managing Director) and Mr. Padmanabhan (Non-Executive Director) as members.

These changes in the board composition and committee structures are expected to bring fresh perspectives to iStreet Network's corporate governance.

iStreet Network Limited, a company listed on the Bombay Stock Exchange, has announced significant changes to its board of directors and approved its financial results for the first quarter of the fiscal year.

Board Restructuring

In a strategic move aimed at supporting new business opportunities under fresh leadership, iStreet Network has appointed four new directors effective July 29, 2025. The appointments, approved by the board, include:

1. Padmanabhan Desikachari: Appointed as Additional Non-Executive Non-Independent Director. Mr. Desikachari brings over 40 years of experience as a distinguished technology leader, with expertise in product management, applications development, and core systems architecture, including AI and ML.

2. Yash Maheshwari: Joins as Additional Non-Executive Non-Independent Director. Mr. Maheshwari has completed Level I of the Chartered Financial Analyst (CFA) program and holds a Bachelor of Commerce (Honours) degree from the University of Delhi.

3. Eric Anklesaria: Appointed as Additional Non-Executive Independent Director for a term of five years. Mr. Anklesaria has over 20 years of experience in global IT services organizations, assurance, and advisory firms, with expertise in Banking and Financial Services, IT and Digital Strategy.

4. Satish Goel: Joins as Additional Non-Executive Independent Director for a five-year term. Mr. Goel is a Chartered Accountant with over 34 years of experience in Banking & Finance, Corporate law, Taxation, and Risk Management.

Q1 Financial Results

The board of directors has approved the unaudited financial results for the quarter ended June 30, 2025. While specific financial figures were not disclosed in the available information, the company has submitted these results along with a Limited Review Report to the BSE Limited in compliance with SEBI regulations.

Ownership Changes

In a significant development, the company disclosed that its promoters have signed a Share Purchase Agreement (SPA) with acquirers for the sale of 85.00 lakh shares. This transaction will result in a transfer of control and management of the company. The necessary processes for this change are currently underway.

iStreet Network Limited's Company Secretary and Compliance Officer, Pratibha Ranka, confirmed these developments in official communications to the BSE.

As iStreet Network Limited embarks on this new phase with a restructured board and potential change in ownership, stakeholders will be keenly watching how these developments influence the company's future strategies and performance in the market.