Baba Arts board reset after Skybridge takes 62.29% stake

The key update investors are tracking

Baba Arts Limited (BSE: 532380) disclosed a change in management and control after Skybridge Interactive LLP acquired 62.29% of the company’s paid-up equity capital and became the promoter group. The company’s board was reconstituted with effect from 9 October 2026, coinciding with a cluster of resignations and fresh appointments. In parallel, the company reported a sharp rise in FY26 revenue and a decline in net profit, adding another layer of focus for shareholders. The disclosures indicate the board formally noted completion of the open offer and the share transfer linked to the change in control. The company also fixed its 27th Annual General Meeting (AGM) for 3 November 2026.

Skybridge Interactive’s 62.29% acquisition and promoter change

Company announcements stated that Skybridge Interactive LLP acquired 62.29% of the paid-up equity capital, becoming the promoter group. The board agenda for 9 October 2026 included noting the acquisition of the promoters’ shareholding by the acquirer pursuant to the share purchase agreement (SPA) read with the SEBI (SAST) Regulations. The board also recorded the completion of the open offer process as part of the change in control. Based on these developments, the company described the outcome as a shift in management and control.

Board meeting on 9 October 2026: resignations and appointments

Baba Arts said the board meeting held on 9 October 2026 noted resignations of the Chairman and Managing Director (MD), the Chief Financial Officer (CFO), and multiple directors, all effective the same date. The company simultaneously approved the appointment of a new MD and additional directors. This “high clustering” of exits and entries on 9 October 2026 was directly linked in the disclosures to the change in control following the open offer.

New Managing Director: Vidya Pishe

The company appointed Ms. Vidya Pishe as Managing Director with effect from 9 October 2026. Disclosures said her appointment is for a five-year period up to 8 October 2031, subject to member approval. She was appointed as part of the reconstituted leadership after the change in control.

New Chairperson: Chandresh Dutt Upadhyay

Baba Arts also appointed Mr. Chandresh Dutt Upadhyay as an Independent Director and elected him as Chairperson of the board with effect from 9 October 2026. The context in the disclosure stated he was elected Chairperson “in place of Mr. Nikhil G. Tanwani.” His independent directorship term was also stated as up to 8 October 2031, subject to member approval.

Additional directors added to the reconstituted board

The board recommended and appointed several individuals as Additional Directors with effect from 9 October 2026, subject to required approvals. The appointments disclosed include:

• Mr. Eknath Ramkrushna Bade as a Non-Independent, Non-Executive Director
• Mr. Hardeep Darshan Singh Sangha as an Executive, Non-Independent Director
• Ms. Neeru Saini as an Independent Director (term up to 8 October 2031, subject to member approval)
• Mr. Chandresh Dutt Upadhyay as an Independent Director (also elected Chairperson; term up to 8 October 2031, subject to member approval)

The company described the changes as a full board reconstitution effective 9 October 2026.

What changed in the outgoing setup

Company filings referenced resignations that included the outgoing Chairman and MD, and the CFO, effective 9 October 2026. One of the disclosures specifically stated that the outgoing Chairman and MD Nikhil G. Tanwani resigned on 9 October 2026 following the open offer completion. Another announcement referenced the CFO as Ajay Acharya among the resignations. Separately, the annual report section shared in the provided text listed a management team that included Gordhan P Tanwani as Chairman and Managing Director, along with independent directors and company secretary details as part of the company’s reported management structure.

Auditor and committee changes, plus the AGM date

Alongside director changes, the board reconstituted committees of the board consequent upon the changes. The company also disclosed auditor-related actions, including appointment of a new secretarial auditor and a new internal auditor for FY 2026-27. Baba Arts fixed the date for its 27th AGM on 3 November 2026.

FY26 financial snapshot: revenue jumps, profit dips

Baba Arts reported that revenue surged 167% in FY26. However, it also stated that net profit dipped to ₹0.653 crore (₹65.30 lakh) during the same period. The juxtaposition of strong revenue growth and lower profit was disclosed alongside the management control shift and board overhaul, keeping investor attention on both governance and operating performance.

Key facts at a glance

Why this matters for shareholders

A 62.29% promoter-level acquisition typically results in new board representation, and Baba Arts’ disclosures showed that change taking effect immediately through a full reconstitution on 9 October 2026. The company’s formal steps included committee reconstitution and auditor appointments for FY 2026-27, indicating a reset of governance structures alongside leadership changes. The five-year tenure proposed for the Managing Director and the five-year first terms for independent directors suggest the company is aligning board composition with a multi-year operating horizon, subject to shareholder approval.

What to watch next

The next scheduled milestone disclosed by the company is the 27th AGM on 3 November 2026, where appointments that are subject to member approval may be considered. Investors will also track subsequent exchange filings for confirmation of committee compositions and any further KMP appointments referenced in the board agenda. Separately, FY26 performance metrics highlighted by the company, particularly the combination of higher revenue and lower profit, remain a key context point alongside the change in control.