NAVA Limited has informed the stock exchanges about a significant credit rating upgrade for its subsidiary, Nava Bharat Energy India Limited (NBEIL). The announcement, made on January 02, 2026, highlights improved creditworthiness of the subsidiary company.

Credit Rating Enhancement Details

CARE Ratings Ltd. has upgraded NBEIL's credit ratings across both long-term and short-term categories. The rating enhancement reflects the subsidiary's strengthened financial position and improved credit profile.

Supported Rating Withdrawal

Alongside the rating upgrades, CARE Ratings has withdrawn the supported rating for NBEIL. This decision stems from NAVA Limited's choice not to extend the Corporate Guarantee for its subsidiary. The withdrawal of supported rating indicates that NBEIL will now be evaluated independently without the backing of its parent company's guarantee.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. NAVA Limited communicated this development to both the National Stock Exchange of India Limited and BSE Limited simultaneously.

Company Leadership

The official communication was signed by VSN Raju, who serves as Company Secretary and Vice President of NAVA Limited. The digitally signed document was submitted to the exchanges on January 02, 2026, ensuring timely compliance with regulatory requirements.

This rating upgrade for NBEIL represents a positive development in the subsidiary's credit profile, while the withdrawal of supported rating indicates a move towards independent financial assessment without parental support.

Nava Limited has successfully concluded its postal ballot process, with shareholders approving a special resolution regarding a key management appointment. The company announced the voting results on December 15, 2025, demonstrating strong shareholder support for the proposed resolution.

Postal Ballot Results Overview

The postal ballot, conducted through remote e-voting, addressed one special resolution concerning the re-designation of Mr. Ashwin Devineni as Vice Chairman of Nava Global Pte. Limited (NGPL). The voting process was conducted from November 15, 2025, to December 14, 2025.

Category-wise Voting Pattern

The voting results showed broad-based support across different shareholder categories:

Regulatory Compliance and Process

The postal ballot was conducted under the supervision of D. Renuka, Practicing Company Secretary (ACS 11963), who served as the scrutinizer for the process. The voting was facilitated through NSDL's remote e-voting platform, ensuring wider participation of shareholders.

The company complied with all regulatory requirements under Section 110 of the Companies Act, 2013, and the SEBI Listing Regulations. The postal ballot notice was circulated electronically to shareholders whose names appeared on the register as of November 7, 2025, which served as the cut-off date.

Strategic Implications

The overwhelming approval of the special resolution, with 99.83% votes in favor, reflects strong shareholder confidence in the company's leadership decisions. The re-designation of Mr. Ashwin Devineni as Vice Chairman of Nava Global Pte. Limited represents a strategic organizational move within the company's international operations structure.

The high participation rate of 42.14% of outstanding shares in the postal ballot indicates active shareholder engagement in the company's governance matters. This level of participation and approval strengthens the management's mandate to execute its strategic initiatives.