Genesis IBRC India Limited has announced a key leadership change with the resignation of its Company Secretary and Compliance Officer. The company, formerly known as SSK Lifestyles Limited, has informed the stock exchanges about this corporate governance transition effective December 31, 2025.

Leadership Transition Details

Mr. Ramakrishna Subray Hegde (ACS No. 67562) has resigned from his position as Company Secretary and Compliance Officer, with the resignation taking effect from the closing hours of December 31, 2025. The resignation was submitted due to personal reasons, as stated in his formal resignation letter to the Board of Directors.

Interim Compliance Arrangements

To ensure continuity in compliance functions, the company has made interim arrangements as mandated by regulatory requirements. Mr. Balakrishna Koppula, Whole-time Director with DIN 09220541, will assume the role of Compliance Officer until a new Company Secretary is appointed by the company.

This arrangement aligns with Regulation 6 of the SEBI Listing Obligations and Disclosure Requirements Regulations, which provides for such interim measures during transitions in key compliance positions.

Regulatory Compliance and Disclosure

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI LODR Regulations, 2015, in conjunction with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The formal communication was submitted to BSE Limited, where the company's shares are listed under scrip code 514336.

Company Background

Genesis IBRC India Limited, with CIN L24100AP1992PLC107068, operates from its registered office located at Flat No. 401, VVN Residency, 40-A, Ashok Nagar, Eluru, Andhra Pradesh 534002. The company maintains its corporate website at www.genesisiil.com and can be reached at csgenesisiil@gmail.com for investor communications.

The leadership transition represents a routine corporate governance matter, with the company ensuring proper interim arrangements to maintain regulatory compliance during the transition period.

Genesis IBRC India Limited has completed its open offer process, with the acquirers successfully increasing their combined shareholding to 62.84% of the company's voting capital. The substantial acquisition disclosure under Regulation 29 of SEBI (SAST) Regulations reveals the final outcome of the corporate action that was initiated following the initial stake acquisition.

Open Offer Completion Details

The open offer, which was announced for acquisition of up to 26,40,039 shares representing 20.31% of voting share capital at ₹27.00 per share, has been successfully completed. Mr. Padmanaban Krishnamoorthy acquired 9,00,200 shares through the open offer process, with consideration paid to public shareholders on December 16, 2025.

Current Shareholding Structure

Following the completion of the open offer, the combined shareholding of the acquirers has increased significantly. Ms. V Varalakshmi continues to hold her original stake, while Mr. Padmanaban Krishnamoorthy has acquired additional shares through the open offer mechanism.

Regulatory Compliance and Process

The substantial acquisition disclosure has been filed in compliance with Regulation 29(2) of SEBI (SAST) Regulations, 2011. The company's shares are listed on BSE Limited, and the entire process has been conducted under the regulatory framework governing substantial acquisitions in India's capital markets.

Transaction Status and Transfer Process

The disclosure indicates that while consideration has been paid to public shareholders on December 16, 2025, the formal transfer of shares to Mr. Padmanaban Krishnamoorthy is currently in process. This completion of the open offer represents the final phase of the substantial acquisition that began with Ms. V Varalakshmi's initial stake purchase.

The successful completion of this open offer demonstrates the effectiveness of SEBI's regulatory framework in ensuring transparent and compliant substantial acquisitions while providing exit opportunities for public shareholders at predetermined prices.