Esha Media Research Ltd has announced the appointment of Ms. Dimple Joshi as Additional Independent Director, strengthening its board composition with experienced leadership. The appointment reflects the company's commitment to enhancing corporate governance through strategic board additions.

Board Appointment Details

The company has appointed Ms. Dimple Joshi (DIN: 10418431) as Additional Independent Director with effect from February 13, 2026. The appointment was made following the recommendation of the Nomination and Remuneration Committee, ensuring compliance with regulatory requirements.

Professional Background and Qualifications

Ms. Joshi brings substantial academic credentials and professional experience to the board. Her educational background spans multiple disciplines with specialized focus on digital marketing and fashion industry management.

Educational Qualifications

Professional Experience

Ms. Joshi has held various leadership positions across educational institutions and consulting organizations. Her current role as engagement manager at Ernst and Young involves working with SFURTI schemes under UPKVIB as a knowledge partner.

Key Employment History

Current Work Portfolio

In her current role at Ernst and Young, Ms. Joshi manages a dedicated team providing strategic services to UPKVIB. Her responsibilities include:

• Advisory services to Khadi board in grounding investments and managing MoUs
• Conceptualizing and structuring PPP transactions
• Approval of 21 projects from Uttar Pradesh KVIB involving mobilization of around 10,000 artisans
• Revenue generation activities and thematic intervention programs
• Development of rural enterprises focusing on employment generation and women empowerment

Regulatory Compliance

The company has confirmed compliance with BSE Circular No. LIST/COMP/14/2018-19 dated June 20, 2018, affirming that Ms. Dimple Joshi has not been debarred from holding office of Director by SEBI or any other authority. This appointment aligns with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Project Experience and Expertise

Ms. Joshi has extensive project management experience across various sectors including market feasibility studies, skill development initiatives, and craft cluster development. Her work spans organizations such as Istituto Marangoni Mumbai, Psifos Labs Ltd, and various government skill development programs including SAMARTH and Gharib Nawaz initiatives.

The appointment strengthens Esha Media Research's board with diverse expertise in digital marketing, fashion industry management, and rural development initiatives, positioning the company for enhanced strategic guidance and governance oversight.

Esha Media Research Limited's open offer has concluded with an unprecedented minimal response, highlighting the shareholders' reluctance to participate in the acquisition process. The offer, conducted under SEBI's takeover regulations, demonstrates a significant gap between proposed and actual market participation.

Open Offer Performance Summary

The open offer by Opulus Bizserve Private Limited for Esha Media Research Limited shares showed remarkable disparity between expectations and reality. Choice Capital Advisors Private Limited, serving as the manager to the offer, facilitated the process that ran for fifteen days in January 2026.

Shareholding Structure Changes

The acquirer's shareholding pattern reflects a complex structure involving multiple acquisition methods. Before the agreements and public announcement, Opulus Bizserve Private Limited held 18,24,421 shares representing 23.37% of the company's equity.

*Note: The sellers are yet to transfer 1,50,000 shares acquired by way of SPA to the Acquirer. The Company is yet to receive in-principle approval from BSE for the preferential allotment, hence 10,00,000 shares are yet to be allotted.

Regulatory Compliance and Timeline

The open offer process followed strict regulatory timelines as mandated by SEBI takeover regulations. The detailed public statement was initially published on August 13, 2025, in Financial Express, Jansatta, and Mumbai Lakshadweep newspapers.

Key Dates:

• Opening Date: Tuesday, January 13, 2026
• Closure Date: Wednesday, January 28, 2026
• Payment Date: Wednesday, February 04, 2026
• Post-Offer Advertisement: February 11, 2026

Public Shareholding Impact

The minimal response to the open offer resulted in negligible change to public shareholding. Pre-offer public shareholding stood at 37,70,110 shares (48.29%), which decreased marginally to 37,70,109 shares (42.80%) post-offer.

KFin Technologies Limited served as the registrar to the offer, while the entire process was conducted under the supervision of Choice Capital Advisors Private Limited. The post-offer advertisement has been published in compliance with Regulation 18(12) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The acquirer has accepted full responsibility for the information contained in the post-offer advertisement and compliance with SEBI obligations. Copies of the advertisement are available on SEBI, BSE Limited, and the company's registered office websites.