PCBL Chemical Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of Nilesh Koul as Managing Director. The special resolution received strong support from shareholders, marking a significant milestone in the company's leadership transition.

Voting Results and Approval

The postal ballot voting concluded on December 11, 2025, with decisive shareholder approval for Nilesh Koul's appointment. The voting results demonstrate strong confidence in the proposed leadership change.

Key Appointment Details

The approved appointment encompasses comprehensive terms for the new Managing Director position.

Professional Background and Qualifications

Nilesh Koul brings extensive leadership experience to PCBL Chemical Limited. His professional journey spans 28 years across strategy, sales, marketing, manufacturing, and digital transformation roles. He has successfully led P&Ls across international geographies, with his most recent assignment as Senior President and CEO Aluminium Downstream at Hindalco Industries Limited.

Koul holds a graduate degree from G.B. Pant University and a Post Graduate Diploma in Business Management (PGDBM) from IIM, Ahmedabad, providing him with strong academic credentials to complement his industry experience.

Approved Remuneration Structure

Shareholders have approved a comprehensive compensation package for the new Managing Director.

The package also includes various benefits such as personal accident insurance, leave encashment, club fees, medical insurance, and other perquisites as per company rules.

Voting Process and Compliance

The e-voting process was conducted through National Securities Depository Limited (NSDL) from November 12, 2025 (9:00 AM) to December 11, 2025 (5:00 PM). Mr. Manoj Prasad Shaw, Practicing Company Secretary, served as the scrutinizer for the postal ballot process.

Out of 290,928 total shareholders as of the cut-off date of November 7, 2025, a total of 1,191 shareholders participated in the voting process. The promoter and promoter group voted in favor of the resolution, contributing 53.38% support to the appointment.

PCBL Chemical Limited has announced changes in its shareholding structure as multiple promoter entities, including Rainbow Investments Limited and Quest Capital Markets Limited, converted warrants into equity shares, increasing their stakes in the chemical manufacturer.

Warrant Conversion Details

Rainbow Investments Limited acquired 1.36 crore equity shares of PCBL Chemical through the conversion of warrants. The shares were allotted on November 3, following the exercise of rights attached to warrants issued on a preferential basis. The conversion price was set at Rs. 280.00 per share, with each share having a face value of Re. 1.00.

Quest Capital Markets Limited, another promoter group entity, has also acquired equity shares through the exercise of warrants. Each warrant was converted into one fully paid-up equity share of PCBL Chemical Limited with a face value of Re. 1 per share at a price of Rs. 280.00 each. The shares were issued on a preferential basis.

Impact on Shareholding

The warrant conversions have resulted in increases in the stakes held by promoter entities in PCBL Chemical. Here's a breakdown of the changes for Rainbow Investments:

This move strengthens the position of promoter entities as major shareholders in PCBL Chemical.

Regulatory Compliance

In compliance with the Securities and Exchange Board of India (SEBI) regulations, PCBL Chemical has made the necessary disclosures to the stock exchanges. The company filed the required Form C under Regulation 7(2)(a) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, detailing the acquisitions by promoter entities.

Quest Capital Markets disclosed its acquisition under insider trading regulations to PCBL Chemical's compliance officer, which was subsequently reported to stock exchanges NSE and BSE by PCBL Chemical.

Additional Corporate Actions

Concurrent with these developments, PCBL Chemical has also reported other corporate actions:

1. Similar warrant conversions by other promoter group entities, including Stel Holdings Limited.
2. The issuance of Commercial Paper worth Rs. 100.00 crores, with the following details:
   • Face Value: Rs. 5,00,000.00 per unit
   • Tenure: 90 days
   • Interest Rate: 6.22% per annum

These actions reflect PCBL Chemical's management of its capital structure and efforts to optimize its financial position.