AFCONS has announced the appointment of Santosh Balachandran Nayar and Firoz Cyrus Mistry as Additional Directors. Udai Veer Singh is now categorized as Senior Management Personnel. The board also approved the Afcons Infrastructure Limited Employee Stock Option Plan 2025. These decisions aim to bolster the company’s leadership and align employee incentives with long-term growth. These key decisions were made at the board meeting held on September 25, 2025.
Leadership Appointments
Effective September 25, 2025, Mr. Santosh Balachandran Nayar (DIN: 02175871) has been appointed as an Additional Director (Non-Executive & Independent). He will serve a five-year term as an Independent Director, subject to shareholder approval. Also appointed as an Additional Director (Non-Executive & Non-Independent) is Mr. Firoz Cyrus Mistry (DIN: 09543123), whose appointment is also effective September 25, 2025 and subject to shareholder approval.
In addition to the new director appointments, Mr. Udai Veer Singh, currently serving as Executive Vice President (Operations), has been categorized as Senior Management Personnel, effective September 25, 2025.
Employee Stock Option Plan Approval
The board approved the Afcons Infrastructure Limited Employee Stock Option Plan 2025 (“ESOP 2025”). This plan is subject to shareholder approval and regulatory clearances. A pool of 183,89,232 employee stock options will be granted under ESOP 2025, which shall entitle 1 fully paid-up equity share for each option exercised.
Non-Convertible Debentures
The Board also approved the issuance of Non-Convertible Debentures on a private placement basis.
Source: BSE
