Aanya Agarwal, 19, chairs IPO shareholder grievance committee

Aanya Agarwal, a 19-year-old non-executive director whose occupation is listed as student, chairs the Stakeholders’ Relationship Committee ahead of an initial public offering (IPO). Aanya Agarwal joined the five-member board on July 15, 2025, the date on which the board also constituted the three-member committee for security-holder matters.

Why does Aanya Agarwal chair the IPO shareholder grievance committee?

Aanya Agarwal chairs the Stakeholders’ Relationship Committee, the board committee responsible for shareholder, debenture-holder and other security-holder interests. The Draft Red Herring Prospectus lists Aanya Agarwal as chair, with independent director Prafull Bhojak and managing director Jai Agarwal as members. The company secretary and compliance officer is the committee secretary.

The board constituted the committee through a July 15, 2025 resolution. Its stated functions include resolving complaints over share or debenture transfers and transmission, non-receipt of certificates, dividends, annual reports and meeting notices. The committee must also assist with quarterly reporting of such complaints, placing Aanya Agarwal in charge of the board body assigned to the company’s disclosed investor-service process.

The committee’s remit extends to reviewing measures for voting rights, investigating complaints relating to allotments and securities transfers, and overseeing dematerialisation and rematerialisation. Dematerialisation is the conversion of securities into electronic form, while rematerialisation converts electronic holdings into physical certificates. It also reviews standards delivered by the registrar and share transfer agent, the service provider that maintains investor records and processes securities-related requests.

What does the filing say about Aanya Agarwal’s age and background?

Aanya Agarwal was 19 years old at the Draft Red Herring Prospectus date, with a recorded date of birth of October 11, 2006, and the board table describes the occupation as student. The filing says Aanya Agarwal passed higher secondary school from Mayo College Girls’ School, Ajmer. It lists no other Indian-company directorships.

Aanya Agarwal has been a non-executive director since July 15, 2025. The filing separately records a term effective from August 18, 2025 until the next general meeting, while the biography repeats the July 15, 2025 association date. The disclosure does not state why Aanya Agarwal was selected to chair the Stakeholders’ Relationship Committee.

Aanya Agarwal also serves on the three-member Nomination and Remuneration Committee. Prafull Bhojak chairs that committee, and Prasad Ramanuj Heda is the other member. Its stated responsibilities include framing criteria for directors, recommending remuneration policies, identifying candidates for director and senior-management roles, and evaluating the board, its committees and individual directors.

How concentrated is family representation on the committee and board?

Two of the three Stakeholders’ Relationship Committee positions are held by the promoter family: Aanya Agarwal as chair and Jai Agarwal as member. The filing identifies Jai Agarwal as Aanya Agarwal’s father and Prem Lata Agarwal, the whole-time director, as Aanya Agarwal’s mother. Jai Agarwal and Prem Lata Agarwal are the company’s two promoters.

The two promoters hold 41,58,099 equity shares, or 60.97% of pre-offer issued, subscribed and paid-up equity share capital. Jai Agarwal holds 36,00,000 shares, or 52.79%, and Prem Lata Agarwal holds 5,58,099 shares, or 8.18%. Aanya Agarwal is not listed among directors with equity-share holdings at the Draft Red Herring Prospectus date.

The board has five directors: Jai Agarwal, Prem Lata Agarwal, Aanya Agarwal, Prafull Bhojak and Prasad Ramanuj Heda. The promoter family therefore holds three of five board seats, while one independent director sits on the Stakeholders’ Relationship Committee. This composition describes the disclosed governance structure and does not establish how the committee will decide individual complaints.

How does the committee fit into the company’s listing governance structure?

The Stakeholders’ Relationship Committee is one of three board committees constituted for the proposed listing, alongside the Audit Committee and Nomination and Remuneration Committee. The Audit Committee, also constituted on July 15, 2025, is chaired by Prafull Bhojak and includes Prasad Ramanuj Heda and Jai Agarwal. Its terms include review of financial reporting, audit arrangements, internal controls, related-party transactions and use of IPO proceeds.

The company says certain Securities and Exchange Board of India (SEBI) governance provisions did not apply before listing because its issue is under Chapter IX of the SEBI Issue of Capital and Disclosure Requirements Regulations, 2018. It nevertheless states that it has complied with requirements concerning independent-director appointments and the constitution of the Audit Committee and Nomination and Remuneration Committee.

The filing says the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 will apply immediately upon listing of the equity shares on the NSE Emerge platform of the National Stock Exchange. The Stakeholders’ Relationship Committee’s specified work includes unclaimed dividends, statutory notices, annual reports and securities administration, matters that will apply to the company’s listed equity-share base if listing occurs.

What remuneration and appointment controls are disclosed for Aanya Agarwal?

Aanya Agarwal received nil remuneration in Fiscal 2025, according to the director-remuneration table certified by GGPS and Associates, Chartered Accountants, on November 29, 2025. The same table reports nil remuneration for Prafull Bhojak and Prasad Ramanuj Heda. The company also states that no director received sitting fees in Fiscal 2025.

The board fixed a sitting fee of Rs 5,000 on May 17, 2025 for non-executive independent directors attending board and committee meetings. That disclosed decision applies to non-executive independent directors and does not expressly cover Aanya Agarwal’s non-executive directorship. The filing says no contingent or deferred compensation is payable to directors, and the articles of association do not require directors to hold qualification shares.

The executive-director remuneration disclosure provides a different comparison for Fiscal 2025. Jai Agarwal received Rs 33 lakh in gross remuneration and Prem Lata Agarwal received Rs 27 lakh, with no benefits in kind reported for either executive director. Their five-year appointments run from May 5, 2025 to May 4, 2030, while Aanya Agarwal’s stated term runs until the next general meeting.

Conclusion

Aanya Agarwal’s chairmanship combines a July 15, 2025 non-executive board appointment with responsibility for the committee assigned to security-holder grievances, voting measures and share-administration standards. The filing also records that the promoter family holds 60.97% of pre-offer equity capital, three of five board positions and two of three seats on the Stakeholders’ Relationship Committee.

The disclosed next milestone is listing on the NSE Emerge platform, when the SEBI Listing Obligations and Disclosure Requirements Regulations will apply immediately. Subsequent disclosures can show shareholder-complaint reporting, committee-composition changes and whether Aanya Agarwal’s appointment is continued after the next general meeting.