CG Power & Industrial Solutions , a prominent player in the power and industrial equipment sector, has announced significant developments in both its leadership structure and ongoing share capital expansion through multiple Employee Stock Option Plan allotments. The company recently appointed a new Chief Human Resources Officer and completed substantial equity share allotments under its Employee Stock Option Plan, including a third allotment in December.

Leadership Enhancement

The company appointed Ms. Vrushali Kedar Gadkari as Vice President & Chief Human Resources Officer (CHRO), effective September 30, 2025. This strategic move underscores CG Power's commitment to strengthening its human capital and supporting its growth ambitions.

Ms. Gadkari brings over 21 years of rich experience in human resources management across various sectors, including FMCG, BFSI, Realty, Healthcare, and Steel Manufacturing. Her expertise encompasses building high-performance businesses, managing business turnarounds, driving organizational transformation, and talent management across different business stages.

Three ESOP Allotments Complete December Expansion

CG Power has completed three separate equity share allotments under its Employee Stock Option Plan 2021 (ESOP 2021) during December 2025. The allotments occurred on December 11, December 23, and December 30, 2025, demonstrating sustained employee participation in the company's equity programs.

Updated Share Capital Structure

Following the latest allotment on December 30, 2025, CG Power's share capital structure reflects continued expansion through employee participation programs.

Strategic Organizational Development

Ms. Gadkari's appointment follows the resignation of Mr. Mehernosh Mehta, who served as Vice President - HR and stepped down on September 29, 2025, citing personal reasons. As the new CHRO, Ms. Gadkari will drive CG's talent agenda, shape leadership development, and cultivate a strong organizational culture to support the company's growth ambitions.

The newly allotted equity shares from all three December allotments rank pari-passu with existing equity shares in all respects, maintaining equal rights and privileges for all shareholders. These developments reflect CG Power's continued focus on strengthening both its human resources capabilities and employee engagement through equity participation programs.

CG Power & Industrial Solutions has received multiple requests for reclassification from promoter group entities seeking to move to the public category. The latest development involves Algavista Greentech Private Limited (AGPL), which has formally requested reclassification following changes in its ownership structure.

Latest Reclassification Request from AGPL

On 18th December 2025, CG Power received a formal request from Algavista Greentech Private Limited seeking reclassification from promoter and promoter group category to public category shareholders. This request follows a significant change in AGPL's ownership structure, where E.I.D.-Parry (India) Limited reduced its stake in AGPL from 50% to 0% through a sale to its joint venture partner, Synthite Industries Private Limited.

Previous Reclassification Request from CECL

Earlier, CG Power had received a similar request from Coromandel Engineering Company Limited (CECL) for reclassification from promoter and promoter group to public category. This request followed CECL's complete divestment of its shareholding through a Share Purchase Agreement executed on 29th September 2023, resulting in a change of control on 29th December 2023.

Regulatory Compliance and Confirmations

Both entities have provided confirmations in compliance with Regulation 31A(3)(b) of the SEBI Listing Regulations, stating that they:

• Do not hold more than 10% of total voting rights in CG Power
• Do not exercise control over CG Power's affairs directly or indirectly
• Have no special rights through formal or informal arrangements
• Have no representation on CG Power's Board of Directors
• Do not act as key managerial personnel
• Are not classified as wilful defaulters or fugitive economic offenders

Processing Timeline and Next Steps

Both reclassification requests will be placed before CG Power's Board of Directors for approval as stipulated under Regulation 31A(3) of the SEBI Listing Regulations. Upon board approval, the company will submit applications seeking no-objection from the National Stock Exchange of India Limited and BSE Limited for the reclassifications.

Trading Window Status

CG Power has announced the closure of its trading window from 30th September 2025, which will remain closed until 48 hours after the publication of unaudited financial results for the quarter and half-year ending 30th September 2025. This closure complies with SEBI regulations and the company's Code on Insider Trading.

These developments reflect the evolving ownership structure of CG Power as former promoter group entities seek reclassification following their complete divestment from the company.