Isgec Heavy Engineering Limited has announced that Mr. Sidharth Prasad's tenure as an Independent Director will come to an end on October 31, 2025. This development marks the conclusion of Mr. Prasad's second term in this role.

Key Details of the Announcement

Impact and Compliance

The company has confirmed that despite this change, the Board's composition will continue to comply with the applicable listing regulations. This assurance suggests that Isgec Heavy Engineering is well-prepared for the transition and maintains its commitment to corporate governance standards.

Acknowledgment of Contributions

In their official statement, Isgec Heavy Engineering's Board of Directors and Management expressed their appreciation for Mr. Prasad's valuable contributions, guidance, and services during his association with the company. This acknowledgment highlights the significant role Mr. Prasad has played in the company's governance structure over his tenure.

Regulatory Compliance

The company has duly informed the stock exchanges about this change in directorship, adhering to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations. This timely disclosure demonstrates Isgec Heavy Engineering's commitment to transparency and regulatory compliance.

Looking Ahead

While the announcement doesn't specify any immediate plans for filling the position, stakeholders and investors will likely be keen to see how Isgec Heavy Engineering plans to maintain the strength and diversity of its board following Mr. Prasad's departure.

As companies continue to emphasize strong corporate governance, changes in independent directorships remain significant events for shareholders and market observers alike. Isgec Heavy Engineering's proactive communication about this transition reflects positively on its corporate governance practices.

Isgec Heavy Engineering Ltd. has successfully completed its strategic acquisition of a 26% stake in FPEL HR1 Energy Private Limited, marking a significant milestone in the company's renewable energy expansion. The company received confirmation of the equity share allotment on December 17, 2025, following earlier agreements signed in October and updated in December.

Acquisition Details

Project Overview

FPEL HR1 Energy Private Limited is developing a solar power project on a captive basis in Ramanagar Village, Odhan, Mandi Kalanwali Tehsil, Sirsa District, Haryana. The project is designed to generate and supply solar power energy, aligning with Isgec Heavy Engineering's objectives to meet green energy needs and optimize energy costs.

Transaction Framework

The acquisition was structured through two comprehensive agreements:

These agreements establish the framework for Isgec Heavy Engineering's investment and future power purchase arrangements from the solar facility.

Regulatory Compliance and Disclosure

Isgec Heavy Engineering has maintained full regulatory compliance throughout the acquisition process. The company filed the completion update with BSE Ltd. and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key compliance highlights include:

• Transaction classified as non-related party transaction
• No promoter or promoter group interest in FPEL HR1 Energy Private Limited
• Complete disclosure timeline from initial agreement to completion

Strategic Impact

This completed acquisition represents Isgec Heavy Engineering's commitment to sustainable energy solutions and cost optimization. The investment positions the company to benefit from renewable energy generation while supporting India's broader green energy transition. The solar project's captive nature ensures dedicated power supply for the company's operational requirements, potentially reducing long-term energy costs and carbon footprint.