Le Lavoir Reshuffles Board: New Independent Director Appointed as Key Member Resigns

Le Lavoir , a company listed on the BSE (Security Id: LELAVOIR/ Code: 539814), has announced significant changes to its board of directors and key committees. The company's board meeting, held on November 17, 2025, at its registered office in Rajkot, Gujarat, resulted in several important decisions.

Board Changes

Le Lavoir has appointed Mr. Himanshu Keshubhai Togadiya (DIN: 07610961) as an Additional Non-Executive and Independent Director, effective November 17, 2025. Simultaneously, the company noted the resignation of Mr. Pradeep Sutodiya (DIN: 01025354) from his position as a Non-Executive and Independent Director, also effective from the same date.

Profile of the New Director

Mr. Himanshu Keshubhai Togadiya brings a wealth of experience to Le Lavoir. As a Fellow member of the Institute of Company Secretaries of India, he possesses over seven years of experience in handling compliances under various Corporate Laws and listing agreements. His expertise spans Initial Public Issues, Rights Issues, Bonus Issues, Preferential Allotments, QIPs, and Takeovers of Listed & unlisted companies.

Currently a practicing Company Secretary, Mr. Togadiya provides consultancy services in Corporate Laws, SEBI matters, and regular compliances to renowned companies such as Ufresh, ANB Metal, and Infinity group. He also serves as an advisor to SME IPOs and Listed Companies on various compliance-related matters.

Committee Reconstitutions

Following these board changes, Le Lavoir has reconstituted three key committees:

Audit Committee (AC)
Nomination and Remuneration Committee (NRC)
Stakeholders Relationship Committee (SRC)

The new composition of these committees, effective November 17, 2025, is as follows:

Sr. No.	Name of Director	Category	Designation
1.	Mr. Himanshu Keshubhai Togadiya	Chairperson	Non-Executive Independent Director
2.	Ms. Keya Bhattacharya	Member	Non-Executive Independent Director
3.	Mr. Ashok Dilipkumar Jain	Member	Non-Executive Non-Independent Director

This table structure applies to all three reconstituted committees (AC, NRC, and SRC).

Outgoing Director's Other Commitments

Mr. Pradeep Sutodiya, who has resigned from Le Lavoir, continues to hold a directorship as a Non-executive Independent Director in M/s. Darjeeling Ropeway Company Limited. He also maintains a membership in the Stakeholder Relationship Committee of the same company.

Le Lavoir has confirmed that Mr. Sutodiya's resignation is due to personal reasons, and there are no other material reasons for his departure beyond those stated in his resignation letter.

These changes reflect Le Lavoir's commitment to maintaining strong corporate governance and adapting its leadership structure to meet evolving business needs. The appointment of Mr. Togadiya, with his extensive experience in corporate law and compliance, may signal the company's focus on strengthening its regulatory adherence and corporate strategy moving forward.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.79%	+4.82%	-18.70%	-14.59%	-42.65%	+897.78%

Le Lavoir , a company listed on the BSE, has made a significant move in its capital structure by approving and allotting convertible warrants to non-promoter entities. This decision, taken by the company's Board of Directors, marks a potential expansion of the company's equity base and brings in fresh capital.

Key Details of the Allotment

Number of Warrants: 3,15,090
Issue Price: Rs 264.75 per warrant
Conversion Ratio: Each warrant is convertible into one equity share
Face Value of Resulting Shares: Rs 10 per share
Conversion Period: Within 18 months from the date of allotment
Category of Allottees: Non-promoter entities

Allotment Breakdown

The warrants have been allotted to 10 individual and entity recipients. Here's a breakdown of the allotment:

Allottee Name	Number of Warrants	25% Consideration (Rs)
Rekha Bhagat	112,000	74,13,000.00
Sonali Abhaykumar Parmar	60,000	39,71,250.00
Nightingale Growth	51,000	33,75,562.50
Preetham B H	24,000	15,88,500.00
Megha S R	15,090	9,98,769.38
Raghunandan Bangalore Ramachandra	15,000	9,92,812.50
Laxmi Bhupesh Bhond	15,000	9,92,812.50
Samar Shahaji Ransing	9,000	5,95,687.50
Kiran Pravin Rai	9,000	5,95,687.50
Niranjan Gundila Malli	5,000	3,30,937.50

Impact on Share Capital

This allotment, combined with a previous allotment of 12,66,000 warrants, could significantly impact Le Lavoir's share capital structure:

Current Paid-up Share Capital: Rs 3.24 crore
Current Number of Equity Shares: 32,40,000
Potential Paid-up Share Capital Post-Conversion: Rs 4.82 crore
Potential Number of Equity Shares Post-Conversion: 48,21,090

Financial Implications

The total consideration for this allotment at 25% of the issue price amounts to Rs 2,08,55,019.38
Warrant holders are required to pay 75% of the issue price before exercising their conversion rights

Regulatory Compliance

The allotment has been made in accordance with the provisions of Chapter V of SEBI (ICDR) Regulations, 2018, ensuring compliance with regulatory requirements for preferential issues.

This move by Le Lavoir potentially signals the company's strategy for growth and expansion. The influx of capital through this preferential allotment could provide the company with additional funds for its business operations or future projects. However, the full impact of this decision will only be realized once the warrants are converted into equity shares within the stipulated 18-month period.