Soma Textiles & Industries Limited , a prominent player in the textile industry, has announced significant changes in its ownership structure and operations.

Stake Sale Details

Two key promoters of the company have sold a substantial portion of their holdings to Roadway Solutions India Infra Limited and associated parties.

The transactions were executed through off-market sales on October 09, as part of a larger deal where the buyers are acquiring a controlling stake in the company.

Acquisition Overview

• Total Shares Acquired by Buyers: 2,47,68,058
• Percentage of Paid-up Equity: 74.95%
• Total Consideration: Rs. 87,67,42,526

Buyers' Details

1. Roadway Solutions India Infra Limited (Acquirer)
2. Ameet Harjinder Gadhoke (Person Acting in Concert - PAC1)
3. Teja Ranade Gadhoke (Person Acting in Concert - PAC2)

Impact on Share Capital

The company's total equity share capital remains unchanged at Rs. 33,03,30,000, divided into 3,30,33,000 equity shares of Rs. 10 each.

Merger with Subsidiary

In a separate development, Soma Textiles & Industries has announced a merger with its subsidiary as part of efforts to improve operations. The company aims to achieve better efficiency and reduce costs through this merger.

Conclusion

These transactions mark significant changes for Soma Textiles & Industries Limited. The substantial reduction in the promoter group's stake and the entry of Roadway Solutions India Infra Limited and associated parties as major shareholders could potentially lead to changes in the company's strategic direction. Additionally, the merger with its subsidiary is expected to streamline operations and enhance overall efficiency.

Soma Textiles & Industries has announced a comprehensive restructuring of its leadership team, following a significant share purchase agreement. The changes, effective October 10, 2025, mark a new chapter for the company as it transitions to new ownership.

Key Leadership Changes

The Board of Directors, in a meeting held on October 10, 2025, approved several high-profile appointments and resignations:

Additionally, three independent directors - Mr. Om Prakash Laxminarayan Kabra, Mr. Amit Nandkishore Shah, and Mrs. Rita Chatterjee - have stepped down from their positions.

New Leadership Profiles

Managing Director

Mr. Ameet Harjinder Gadhoke, the newly appointed Managing Director, brings over two decades of experience in the road construction industry. A Civil Engineer with a Master's degree in Decorative Concrete, Mr. Gadhoke has been instrumental in his group's growth and is known for his expertise in strategy formulation, bidding processes, and government liaisons.

Non-executive Chairperson

Mrs. Teja Ranade Gadhoke, taking on the role of Non-executive Chairperson, is a Fellow of the Society of Actuaries with 20 years of experience in finance, actuarial science, and risk management. Her academic background includes a B.S. in Mathematics from the University of Texas at Austin and an M.A. in Statistics from Columbia University, New York.

Non-Executive Independent Director

Mr. Narsingh Narain Giri joins as a Non-Executive Independent Director, bringing extensive experience in managing large-scale infrastructure projects and navigating complex stakeholder environments.

Share Purchase Agreement

These leadership changes are a result of a share purchase agreement dated July 9, 2025. The agreement was executed between the existing shareholders (including members of the Somany family and Sarvopari Investments Private Limited) and the new purchasers, namely Roadway Solutions India Infra Limited, Mr. Ameet Harjinder Gadhoke, and Mrs. Teja Ranade Gadhoke.

Future Direction

While specific details about the company's future plans were not disclosed, the Board has approved undertaking a new business activity that aligns with the objectives laid down in the company's Memorandum of Association. This move, coupled with the significant leadership changes, suggests a potential shift in the company's strategic direction.

These appointments and the new business activity are subject to shareholder approval. The company has also approved changes to its authorized signatories, further indicating a comprehensive transition in its operations and management.

As Soma Textiles & Industries embarks on this new phase, stakeholders will be keenly watching how the new leadership team navigates the company's future in the evolving textile and potential new business landscapes.