On June 27, 2025, the Board of Directors of Servotech Renewable Power System Limited (formerly known as Servotech Power Systems Limited), convened a meeting at its registered office to review and approve a series of major corporate developments. The meeting, which commenced at 3:00 PM IST and concluded at 5:00 PM IST, marked key resolutions that highlight the company's capital strategy, leadership expansion, and financial roadmap for future growth.

1. Conversion of 10,00,000 Warrants into Equity Shares

The Board approved the conversion of 10,00,000 warrants into an equivalent number of equity shares of face value Re. 1/- each, priced at ₹83.40 per share (including a premium of ₹82.40). These warrants were originally allotted on January 6, 2024, under a preferential issue to Non-Promoter/Public Category investors.

The conversion was carried out upon receipt of ₹6.25 crore, representing 75% of the issue price (₹62.55 per share). The allotment was made to Coeus Global Opportunities Fund, which now holds a total of 20,00,000 equity shares, up from 10,00,000, resulting in an equity stake of 0.88% post-issue.

With this, no warrants are pending conversion, and the paid-up share capital of the Company stands increased from ₹22,48,45,348 to ₹22,58,45,348. The new equity shares are pari-passu with existing shares and entitled to all shareholder rights including dividend eligibility.

2. Appointment of Dr. Yogita Patra as Additional Director (Independent)

The Board also approved the appointment of Dr. Yogita Patra (DIN: 11168879) as a Non-Executive Woman Independent Director. Her appointment is effective June 27, 2025, for a term of five years, subject to shareholder approval in the ensuing general meeting.

Dr. Patra brings over a decade of expertise in Human Resources Strategy, Learning & Development, and Organizational Transformation. Her contributions include three Harvard Business School case studies published via the IIM-A case centre and notable accolades such as the CII HR Circle Gold Award 2024 and Brandon Hall Award 2023.

She is a recognized speaker in forums like ETHRWorld and People Matters and has been featured in CXO TechBOT magazine, further cementing her reputation as a thought leader in the HR domain.

3. Appointment of Mr. Anup Kumar Ghosh as Internal Auditor

The Board appointed Mr. Anup Kumar Ghosh, a seasoned Chartered Accountant, as the Internal Auditor for FY 2025-26. Mr. Ghosh is known for his extensive experience in audit, taxation, project finance, and legal compliance. His appointment is in line with the company’s commitment to robust internal financial controls and risk governance.

4. Financial Authorizations under the Companies Act, 2013

Two major resolutions were passed by the Board relating to financial operations and credit capacity:

• Authorization under Section 180(1)(a) to create charges/mortgages/hypothecation on assets of the Company up to ₹600 crore.

• Authorization under Sections 179 and 180(1)(c) for borrowings up to ₹600 crore, enabling the Company to raise debt capital as and when required for its expansion and operational needs.

These measures signify a forward-looking financial strategy, enabling flexibility in sourcing capital while maintaining regulatory compliance.

5. Postal Ballot and Shareholder Resolutions

The Company has also approved the dispatch of a Postal Ballot Notice to shareholders to seek their approval on the following resolutions:

• Regularization of Mr. Girish Kumar Ahuja (DIN: 00446339) as Non-Executive Independent Director

• Regularization of Mr. Digvijay Kapoor (DIN: 11146998) as Executive Director (Human Resources)

• Regularization of Dr. Yogita Patra as Non-Executive Woman Independent Director

• Approval for creation of charge on assets under Section 180(1)(a) up to ₹600 crore

• Approval for borrowings under Section 180(1)(c) and Section 179 up to ₹600 crore

6. Appointment of Scrutinizer for E-Voting Process

To ensure a smooth and compliant voting process, the Board approved the appointment of Mr. Debabrata Deb Nath, a Practicing Company Secretary (ICSI Membership No. 7775, C.P No. 8612), as the Scrutinizer for conducting remote e-voting on the above Postal Ballot items.

Conclusion

This meeting highlights Servotech Renewable Power System Limited’s proactive approach toward capital restructuring, leadership enrichment, and financial preparedness. By converting warrants into equity, the Company has successfully raised growth capital while simultaneously reinforcing governance standards with new Board appointments.

With additional approvals for borrowing and asset monetization up to ₹600 crore, Servotech positions itself to fuel future projects, explore growth opportunities, and enhance shareholder value in the renewable power and clean energy segment.

As of June 2025, Servotech stands at a critical inflection point, geared with fresh capital, strengthened leadership, and strategic flexibility for its next phase of expansion.

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