Servotech Board Approves AGM, Dividend Record Date, MD Re-appointment, and ₹800 Crore Borrowing Limit
Servotech Renewable Power System Limited will hold its 22nd AGM on September 25, 2026. The record date for the final dividend for FY2025-26 is September 18, 2026. Mr. Raman Bhatia is re-appointed as MD for 5 years from June 1, 2027. The company's borrowing limit is enhanced to ₹800 crore.
The re-appointment of the Managing Director, enhancement of borrowing powers to ₹800 crore, and the approval of material related party transactions are significant corporate actions that can have a substantial impact on the company's future operations and financial strategy.
The announcement details the approval of the AGM date, re-appointment of the Managing Director, and significant enhancement of borrowing powers, all of which are positive developments for the company's governance and financial capacity.
Servotech Renewable Power System Limited's Board of Directors, in a meeting held on August 27, 2026, approved several key matters. The company will convene its 22nd Annual General Meeting (AGM) on September 25, 2026, conducted through Video Conferencing (VC)/Other Audio Visual Means (OAVM). Mr. Debabrata Deb Nath has been appointed as the Scrutinizer for the e-voting process related to the AGM.
The Board also approved the Notice of the 22nd AGM and the Directors' Report for the financial year ended March 31, 2026. To facilitate the AGM, the Register of Members and Share Transfer Books will be closed from September 19, 2026, to September 25, 2026. The "Cut-off Date" for determining eligible members to vote and the "Record Date" for the final dividend for FY 2025-26 has been fixed as September 18, 2026. The final dividend, if declared, will be paid within 30 days of the AGM's conclusion.
Furthermore, the Board approved the re-appointment of Mr. Raman Bhatia as Managing Director for a further period of 5 years, effective from June 1, 2027, subject to shareholder approval. His brief profile highlights over 25 years of experience in the power electronics and renewable-energy sector. The Board also approved the revision in remuneration for Ms. Sarika Bhatia, Whole-time Director, subject to member approval. Additionally, the company's borrowing limit has been enhanced to ₹800 crore, and the creation of mortgage/charge over assets to secure borrowings up to ₹800 crore has been approved, both subject to shareholder approval by special resolution.
The Board also approved proposed material related party transactions with Rhine Solar Limited, subject to member approval under Regulation 23(4) of SEBI Listing Regulations. The board meeting commenced at 3:00 P.M. (IST) and concluded at 4:15 P.M. (IST).
A plain-language summary of a public exchange filing by Servotech Renewable Power System Limited. Read the original for the full detail.