What the board approved
Filed under the label "Change in Management," the September 5, 2026 board meeting in fact covered several distinct items. The board noted the resignation of Mr. Hyun Shik Park, Chief Operations Officer and a Senior Management Personnel, with effect from the close of business on September 5, 2026, citing personal reasons. It also approved an enabling resolution to raise funds through equity or equity-linked securities, and an increase in authorised share capital — both of which require shareholder approval.
The fundraising and capital moves
The most substantive item is an enabling resolution permitting the company to raise capital through equity shares and/or convertible securities, via modes including a further public offer, rights issue, qualified institutions placement, private placement or depository receipts (ADRs/GDRs), subject to shareholder and regulatory approvals. Separately, the board approved raising authorised share capital, with a consequent alteration to Clause V of the Memorandum of Association, also subject to shareholder consent. An enabling resolution creates headroom to raise capital later; it is not itself an issuance.
Board reappointments and AGM
The board approved second five-year terms as Non-Executive Independent Directors for Mr. Manoj Kumar Kohli (DIN: 00162071) and Ms. Shradha Sharma (DIN: 03557496), each running from December 06, 2026 to December 05, 2031, subject to shareholder approval at the forthcoming AGM. It also approved convening the company's 9th Annual General Meeting on September 30, 2026, to be held via video-conferencing, where these items would be placed for approval.