Soma Textiles & Industries Ltd has announced a significant overhaul of its board of directors, effective October 10, 2025, following a major change in ownership. This restructuring comes as a result of a share purchase agreement dated July 9, 2025, which saw the Somany family and Sarvopari Investments Private Limited sell their stakes to Roadway Solutions India Infra Limited and the Gadhoke family.

New Leadership Appointments

The company has made several key appointments to its board:

All these appointments are subject to shareholder approval.

Board Resignations

Concurrent with the new appointments, five directors have stepped down from their positions:

All resigning directors have confirmed that there are no material reasons for their resignations beyond those mentioned in their resignation letters.

Ownership Transition

The board restructuring follows a significant change in the company's ownership. According to the share purchase agreement, Roadway Solutions India Infra Limited, Ameet Harjinder Gadhoke, and Teja Ranade Gadhoke have acquired 2,47,68,058 fully paid-up equity shares, representing 74.98% of the paid-up equity share capital of Soma Textiles & Industries Ltd. The total consideration for this transaction amounted to Rs. 87,67,42,526.00.

New Leadership Profiles

Mr. Ameet Harjinder Gadhoke

The new Managing Director brings over two decades of experience in the road construction industry. He has been instrumental in his group's growth and oversees strategy, policy formulation, bidding, tendering, and planning processes. Mr. Gadhoke is also known for his liaison with various government departments and was the recipient of the Hindustan Times Excellence Award in 2016.

Mrs. Teja Ranade Gadhoke

Appointed as the Non-executive Chairperson, Mrs. Gadhoke is a Fellow of the Society of Actuaries with a strong background in mathematics and statistics. Her twenty years of experience in finance, actuarial science, and risk management positions her as a key figure in the company's financial decision-making processes.

Mr. Narsingh Narain Giri

The appointment of Mr. Giri as an Independent Director adds valuable expertise in managing large-scale infrastructure projects and navigating complex stakeholder environments to the board.

This comprehensive board restructuring marks a new chapter for Soma Textiles & Industries Ltd, potentially signaling a shift in the company's strategic direction under its new ownership and leadership.

Soma Textiles & Industries has announced a comprehensive restructuring of its leadership team, following a significant share purchase agreement. The changes, effective October 10, 2025, mark a new chapter for the company as it transitions to new ownership.

Key Leadership Changes

The Board of Directors, in a meeting held on October 10, 2025, approved several high-profile appointments and resignations:

Additionally, three independent directors - Mr. Om Prakash Laxminarayan Kabra, Mr. Amit Nandkishore Shah, and Mrs. Rita Chatterjee - have stepped down from their positions.

New Leadership Profiles

Managing Director

Mr. Ameet Harjinder Gadhoke, the newly appointed Managing Director, brings over two decades of experience in the road construction industry. A Civil Engineer with a Master's degree in Decorative Concrete, Mr. Gadhoke has been instrumental in his group's growth and is known for his expertise in strategy formulation, bidding processes, and government liaisons.

Non-executive Chairperson

Mrs. Teja Ranade Gadhoke, taking on the role of Non-executive Chairperson, is a Fellow of the Society of Actuaries with 20 years of experience in finance, actuarial science, and risk management. Her academic background includes a B.S. in Mathematics from the University of Texas at Austin and an M.A. in Statistics from Columbia University, New York.

Non-Executive Independent Director

Mr. Narsingh Narain Giri joins as a Non-Executive Independent Director, bringing extensive experience in managing large-scale infrastructure projects and navigating complex stakeholder environments.

Share Purchase Agreement

These leadership changes are a result of a share purchase agreement dated July 9, 2025. The agreement was executed between the existing shareholders (including members of the Somany family and Sarvopari Investments Private Limited) and the new purchasers, namely Roadway Solutions India Infra Limited, Mr. Ameet Harjinder Gadhoke, and Mrs. Teja Ranade Gadhoke.

Future Direction

While specific details about the company's future plans were not disclosed, the Board has approved undertaking a new business activity that aligns with the objectives laid down in the company's Memorandum of Association. This move, coupled with the significant leadership changes, suggests a potential shift in the company's strategic direction.

These appointments and the new business activity are subject to shareholder approval. The company has also approved changes to its authorized signatories, further indicating a comprehensive transition in its operations and management.

As Soma Textiles & Industries embarks on this new phase, stakeholders will be keenly watching how the new leadership team navigates the company's future in the evolving textile and potential new business landscapes.