Savadekar family controls 86.99% and holds key roles

Savadekar family control combines 86.99% of the company’s pre-issue paid-up equity with executive and board representation by four promoters. The family held 65,59,154 equity shares of Rs 10 face value each on the Red Herring Prospectus date, while Umakant and Ulka Savadekar held the managing director and chief financial officer roles.

How concentrated is Savadekar family ownership?

Savadekar family promoters held 65,59,154 equity shares, representing 86.99% of the company’s pre-issue paid-up equity capital. The four promoters are Umakant Nivrutti Savadekar, Ulka Umakant Savadekar, Nivrutti Sonu Savdekar and Vijaya Nivrutti Savdekar. The disclosed holding means that the four-person promoter group owned more than four-fifths of the equity capital before the issue.

The prospectus identifies all four promoters as family members and directors. Umakant is the husband of Ulka and the son of Nivrutti and Vijaya; Nivrutti and Vijaya are husband and wife. Umakant is chairman and managing director, Ulka is whole-time director and chief financial officer, or CFO, and Umakant’s parents are non-executive directors.

Umakant and Ulka together held 62,57,632 shares, according to the key managerial personnel table, compared with 65,59,154 shares held by all four promoters. The supplied disclosure does not state separate holdings for Nivrutti and Vijaya. It also says that no key managerial personnel or senior management employee held shares other than Umakant, Ulka and senior manager Vishwas Keshav Purohit, who held 3,846 shares.

Which Savadekar family members run the company?

Savadekar family executive management is led by Umakant as chairman and managing director and Ulka as whole-time director and CFO. Both joined the company in 2013 and hold three-year terms from August 30, 2025 to August 30, 2028. Umakant was paid Rs 18 lakh and Ulka Rs 9 lakh for the financial year ended March 31, 2026.

The company redesignated Umakant and Ulka on August 30, 2025, citing compliance with the Companies Act, 2013 and better corporate governance. Pooja Sharma was appointed company secretary and compliance officer on September 19, 2025. The prospectus says that no key managerial personnel other than Umakant and Ulka is also a board member, separating the two family executives from the company’s other key managers.

The company reported no employee stock option plan, or ESOP, and no employee stock purchase scheme, or ESPS, as of the prospectus date. It also said that no contingent or deferred compensation had accrued for key managerial personnel or senior management in the financial year ended March 31, 2026. Apart from appointment-letter terms, the disclosure says those personnel had no other service contracts, including retirement or termination benefits.

What board roles do Umakant Savadekar’s parents hold?

Savadekar family members Nivrutti and Vijaya are promoter non-executive directors as well as Umakant’s father and mother. Nivrutti, aged 83 in the promoter profile, was a member of the nomination and remuneration committee. Vijaya, aged 77 in the promoter profile, chaired the stakeholders relationship committee.

The nomination and remuneration committee was reconstituted on July 20, 2026 and comprised independent directors Charmi Monil Shah as chairperson and Rajendra Hunajirao Talele as member, alongside Nivrutti. Under its disclosed terms, the committee must meet at least once a year and requires one-third of its total strength or two members, whichever is greater, including at least one independent director, for a quorum.

The stakeholders relationship committee was also reconstituted on July 20, 2026. Vijaya chaired the three-member committee, with Charmi and Ulka as members. Its disclosed remit includes resolving security-holder grievances and reviewing registrar and transfer-agent service standards; it must meet at least once a year and report quarterly to the board on shareholder-complaint redressal.

How does the factory lease connect operations to a promoter?

Savadekar family member Ulka leases the company’s registered office and factory to the company under a lease deed dated November 6, 2015. The property is at Gat No. 172, Post Khatwad, Tal Dindori, Nashik, Maharashtra 422004. Ulka is therefore both the disclosed lessor of the operating site and the company’s whole-time director and CFO.

The prospectus presents this lease as the exception to its statement that promoters had no other interest in property acquired by the company during the two years before filing the Red Herring Prospectus or proposed to be acquired on that date. It separately says that none of the promoters was interested in transactions for land acquisition, building construction or machinery supply. The supplied extract gives no lease rent, lease term, renewal condition or payment total.

The company directs readers to Annexure AD on related-party transactions for unsecured loans and other past monetary dealings involving directors, key managerial personnel and senior management. It says promoters may be deemed interested in their remuneration, expense reimbursement and unsecured loans taken from them, if any. The disclosure establishes these possible related-party mechanisms but does not quantify their values in the supplied pages.

What governance checks are disclosed for family control?

Savadekar family control is subject to disclosed audit, nomination and stakeholder committee processes, although the family held 86.99% of pre-issue equity. The audit committee’s stated responsibilities include approval or subsequent modification of related-party transactions and omnibus approval for such transactions, subject to prescribed conditions. It must also review management statements of significant related-party transactions and internal-audit reports concerning internal-control weaknesses.

The company said the Securities and Exchange Board of India, or SEBI, Prohibition of Insider Trading Regulations, 2015 would apply immediately upon listing of its equity shares. Its board approved and adopted an insider-trading policy on September 26, 2025 in view of the proposed public issue. The board is stated to be responsible for policies, procedures and monitoring concerning unpublished price-sensitive information and the insider-trading code of conduct.

The prospectus also records issuer confirmations that no promoter, promoter group member, group company or person in control had been prohibited or debarred from capital-market access by SEBI or another authority. It says there were no defaults on principal or interest to debenture holders, bondholders, fixed-deposit holders, banks or financial institutions during the preceding three years for the company, promoters, group companies and promoter-promoted companies. Litigation records and status are referred to the prospectus section beginning on page 232.

Conclusion

Savadekar family control brings ownership, executive authority, board membership and an operating-property lease into the same four-person promoter group. The 86.99% pre-issue holding is paired with Umakant and Ulka’s executive positions, while Nivrutti and Vijaya hold non-executive directorships and committee positions.

What to watch next is the implementation of the disclosed governance arrangements after listing, including audit committee review of related-party transactions and quarterly stakeholder-complaint reporting to the board. The supplied extract leaves factory rent, lease duration, unsecured-loan balances and other related-party transaction values unresolved, referring those matters to Annexure AD.