Indraprastha Gas Limited has announced a postal ballot for seeking shareholder approval for the re-appointment of Dr. Shyam Agrawal as Independent Director. The company issued the notice on January 10, 2026, in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

E-Voting Schedule and Process

The remote e-voting period has been scheduled to provide adequate time for shareholder participation:

The company will send postal ballot notices exclusively through electronic mode to members whose email addresses are registered with the company or depositories. The notice is available on the company's website at www.iglonline.net and KFin's e-voting portal at evoting.kfintech.com.

Director Re-appointment Details

The special resolution seeks approval for extending Dr. Shyam Agrawal's tenure as Independent Director:

Dr. Agrawal was initially appointed as Non-Executive Independent Director through postal ballot for a three-year term. The Board of Directors, based on the Nomination and Remuneration Committee's recommendation and considering his skills, experience, and performance evaluation, has approved the one-year extension subject to shareholder approval.

Director Profile and Expertise

Dr. Shyam Agrawal brings significant professional expertise to the board:

He currently serves on multiple board committees of Indraprastha Gas Limited, including Chairman of the Audit Committee and member of Nomination & Remuneration Committee, CSR Committee, and Risk Management Committee. Dr. Agrawal also holds directorships in other companies including Venus Pipes & Tubes Limited, South Eastern Coalfields Limited, and Mayur Uniquoters Limited.

Regulatory Compliance and Voting Rights

The postal ballot complies with Sections 108, 110 of the Companies Act, 2013, and SEBI Listing Regulations. Regulation 25(2A) of SEBI Listing Regulations mandates that appointment of Independent Directors requires approval through special resolution. The Board has appointed Mr. Sachin Agarwal, FCS No. 5774, and in his absence, CS Shweta Jain, FCS No. 7152, of M/s Agarwal S. & Associates as Scrutinizer for conducting the postal ballot process.

Voting rights will be proportionate to the paid-up value of shares held as on the cut-off date of January 09, 2026. Members can access e-voting through their demat accounts via NSDL or CDSL platforms, or directly through KFin Technologies' portal. Corporate and institutional members must provide authorization documents to exercise voting rights through their representatives.

Indraprastha Gas Limited has achieved a significant milestone in its international expansion efforts by successfully clearing the pre-qualification stage for Saudi Arabia's natural gas distribution tender. The company has now advanced to the competition phase of the tender process for securing licenses to develop natural gas distribution networks across various industrial cities in the Kingdom of Saudi Arabia.

Strategic Partnership and Market Entry

The advancement to the competition phase follows Indraprastha Gas Limited's strategic partnership with MASAH Construction Company, which was formalized through an alliance-cum-partnership agreement executed in November 2025. This collaboration was specifically designed to strengthen the company's position in the pre-qualification process for the Saudi Arabian natural gas distribution licenses.

Market Performance and Stock Movement

Shares of Indraprastha Gas Limited demonstrated positive momentum during Friday's trading session, reflecting investor confidence in the company's international expansion prospects. The stock performance showed modest gains amid the announcement of the pre-qualification success.

Financial Performance Analysis

The company's recent financial results present a mixed picture, with revenue growth accompanied by declining profitability. The latest quarterly results demonstrate the company's ability to expand its top-line performance while facing challenges in maintaining profit margins.

Company Background and Business Operations

Indraprastha Gas Limited operates as a leading city gas distribution company in India, established in 1998 as a joint venture between GAIL (India) Limited and Bharat Petroleum Corporation Limited. The company's core business encompasses the supply of Compressed Natural Gas for transport applications and Piped Natural Gas for industrial, domestic, and commercial use within the National Capital Territory of Delhi.

The company's strategic focus on expanding beyond its traditional markets through international partnerships represents a significant step in its growth trajectory. The Saudi Arabian opportunity aligns with the company's expertise in natural gas distribution infrastructure development and operations, positioning it to leverage its technical capabilities in new geographical markets.