Marc Loire Fashions Appoints Two New Independent Directors, Reshaping Board Composition

Marc Loire Fashions Limited , a prominent player in the fashion industry, has announced significant changes to its board of directors, appointing two new independent directors while bidding farewell to two others. This strategic move, effective November 15, 2025, aims to strengthen the company's governance structure and bring fresh perspectives to its leadership.

New Appointments

The company has appointed Mr. Saurav Gupta and Ms. Yamini Soni as Non-Executive Independent Directors for a term of five years, subject to shareholder approval. These appointments come on the heels of resignations from Mr. Saurabh Shashwat and Ms. Rojina Thapa, who are stepping down due to personal reasons.

Profiles of New Directors

Mr. Saurav Gupta

Over eight years of experience in sales and marketing
Previous role: Senior Manager (Sales & Marketing) at Mezzex Ltd
Brings strong leadership capabilities and a proven track record in driving business growth and operational excellence

Ms. Yamini Soni

Over seven years of experience in marketing
Served in leadership roles with reputed institutions such as BLK Hospital and CloudNine Hospital
Expertise in strategic planning and marketing management

Board Committee Restructuring

In light of these changes, Marc Loire Fashions has reconstituted its key committees:

Audit Committee:
- Chairperson: Mr. Saurav Gupta
- Members: Ms. Yamini Soni and Mr. Arvind Kamboj
Nomination and Remuneration Committee:
- Chairperson: Mr. Saurav Gupta
- Members: Ms. Yamini Soni and Mr. Atul Malhotra
Stakeholders Relationship Committee:
- Chairperson: Mr. Atul Malhotra
- Members: Ms. Yamini Soni and Mr. Arvind Kamboj

Ensuring Regulatory Compliance

The company has confirmed that both Mr. Gupta and Ms. Soni satisfy the criteria of independence prescribed under the Companies Act, 2013, and SEBI LODR regulations. Neither is debarred from holding the office of Director by virtue of any SEBI order or other authority.

Departing Directors

Mr. Saurabh Shashwat and Ms. Rojina Thapa will cease their roles as Independent Directors effective November 18, 2025. The company has stated that there are no material reasons for their resignations other than those mentioned in their resignation letters.

This board reshuffle comes at a time when Marc Loire Fashions is looking to leverage its recent public listing and expand its retail network. The infusion of new talent and expertise at the board level is likely aimed at guiding the company through its next phase of growth and market expansion.

As the fashion industry continues to evolve rapidly, Marc Loire Fashions' strategic appointments may well position the company to navigate upcoming challenges and capitalize on emerging opportunities in the market.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.76%	-4.54%	+10.88%	-16.47%	-16.47%	-16.47%

Marc Loire Fashions Limited , a company listed on the BSE SME platform, has reported no deviation in the utilization of funds raised through its Initial Public Offering (IPO). The company's board of directors met on November 14, 2025, to discuss various matters, including the utilization of IPO proceeds and changes in the board composition.

IPO Fund Utilization

Marc Loire Fashions confirmed that there has been no deviation or variation in the use of Rs. 1,875.50 lakhs raised through its IPO. The funds are being utilized as stated in the prospectus for the following purposes:

Purpose	Original Allocation (Rs. in Lakhs)	Funds Utilized (Rs. in Lakhs)	Unutilized Amount (Rs. in Lakhs)
Funding Capital Expenditure for Retail Network Expansion	526.88	119.58	407.30
Funding Capital Expenditure for Multi-Purpose Racks	40.08	6.00	34.08
Working Capital Requirements	935.22	413.95	521.27
Issue Expenses	224.50	224.50	0.00
General Corporate Purposes	373.32	57.65	315.67
Total	2,100.00	821.69	1,278.31

As of September 30, 2025, the company has utilized Rs. 821.69 lakhs, with the remaining Rs. 1,278.31 lakhs maintained in bank accounts with Kotak Bank and Canara Bank.

Board Changes

The board meeting also resulted in significant changes to the company's leadership:

New Appointments

Mr. Saurav Gupta (DIN: 11371121) appointed as a Non-executive, Independent Director for a five-year term, effective November 15, 2025.
Ms. Yamini Soni (DIN: 11371065) appointed as a Non-executive, Independent Director for a five-year term, effective November 15, 2025.

Resignations

Mr. Saurabh Shashwat (DIN: 10074130) resigned as an Independent Director, effective November 18, 2025.
Ms. Rojina Thapa (DIN: 10362834) resigned as an Independent Director, effective November 18, 2025.

Both new appointees bring valuable experience to the board. Mr. Gupta has over 8 years of experience in sales and marketing, while Ms. Soni has more than 7 years of experience in marketing leadership roles.

Financial Results

The board also approved the unaudited financial results for the half-year ended September 30, 2025. The company's statutory auditors, M/s. SPMG & Co., provided a limited review report stating that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards.

Marc Loire Fashions continues to demonstrate transparency in its operations and commitment to proper utilization of IPO funds, while also refreshing its board with experienced professionals to guide its future growth.