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.

Soma Textiles & Industries Limited is the target of an open offer launched by Roadway Solutions India Infra Limited, potentially signaling a shift in the company's ownership structure.

Key Details of the Open Offer

Offer Specifics

• Acquirer: Roadway Solutions India Infra Limited, along with persons acting in concert Ameet Harjinder Gadhoke and Teja Ranade Gadhoke
• Target Company: Soma Textiles & Industries Limited
• Offer Size: Up to 82,64,942 equity shares
• Stake Percentage: 25.02% of the voting share capital
• Offer Price: ₹47.14 per equity share
• Face Value: ₹10.00 per share

Announcement and Disclosure

The pre-offer advertisement and corrigendum to the Detailed Public Statement were published in multiple newspapers, including:

• Financial Express
• Navshakti
• Jansatta
• Ek Din

Mefcom Capital Markets Limited is acting as the manager to the open offer. The company has requested stock exchanges BSE and NSE to disseminate the information on their websites, ensuring transparency and compliance with regulatory requirements.

Impact and Implications

This open offer represents a significant development for Soma Textiles & Industries Limited and its shareholders. If successful, it could lead to a substantial change in the company's ownership structure and potentially influence its future strategic direction.

Shareholders of Soma Textiles & Industries Limited will need to carefully consider the offer price and terms before making a decision on whether to tender their shares. The outcome of this open offer could have implications for the company's management, operations, and overall market position in the textile industry.

As the open offer process unfolds, market observers and investors will be closely watching for any further developments that may emerge.