IFGL Refractories Ltd has announced a key leadership appointment in its human resources department, strengthening its management structure with the addition of an experienced HR professional.

New Chief Human Resource Officer Appointment

The company has appointed Mr. Abhay Kapoor as Chief Human Resource Officer (CHRO) with effect from December 17, 2025. This appointment brings over 25 years of strategic HR experience to the leadership team.

Professional Background and Qualifications

Mr. Kapoor brings substantial expertise to his new role with over 25 years of rich experience in Strategic HR, HR Operations, and Industrial Relations. His professional focus includes expertise in Organisation Development and optimal Human Resource Development utilization.

Educational Qualifications

• Bachelor's degree in Science (Mathematics)
• MBA in HR (PMIR)
• LLB (Bachelor of Laws)

Organizational Changes

Following Mr. Kapoor's appointment as CHRO, there has been a restructuring in the HR department hierarchy. Dr. Sushil Kumar Ojha, who was previously serving as Senior General Manager-HR of the company, has ceased to be Senior Management Personnel in terms of SEBI LODR, 2015 regulations.

Regulatory Compliance

The appointment disclosure was made pursuant to Regulation 30 read with Clause 7 of Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement has been hosted on the company's website at https://ifglgroup.com/ and is available in the investor announcements section.

IFGL Refractories Limited , a key player in the refractory industry, has undergone an internal share transfer within its promoter group. The transaction involved a significant shift in ownership while maintaining the overall promoter group stake.

Key Transaction Details

Transaction Implications

This inter-promoter group transfer was strategically structured to keep the aggregate shareholding of the Promoter and Promoter Group unchanged. The move aligns with regulatory compliance, as it is exempt from open offer requirements under the Securities and Exchange Board of India (SEBI) regulations.

Bajoria Financial Services Private Limited has increased its shareholding in IFGL Refractories from 66.72% to 67.33% through this acquisition. Despite this change, the overall promoter group holding remains constant at 72.43%.

Regulatory Compliance

The transaction falls under the exemption clause of SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations. This exemption is typically granted for transfers among qualifying persons named as promoters in the company's shareholding pattern, filed under SEBI's Listing Obligations and Disclosure Requirements Regulations.

Market Impact

While the transfer represents a minor shift in individual holdings within the promoter group, it does not alter the overall control structure of IFGL Refractories Limited. Investors and market watchers may view this as a routine reorganization within the promoter group, with limited impact on the company's operational or strategic direction.

Conclusion

This internal share transfer in IFGL Refractories Limited showcases the dynamic nature of promoter group holdings in Indian corporations. It underlines the importance of understanding intra-group transactions and their compliance with regulatory frameworks, even when they don't significantly alter the company's overall ownership structure.