Aster DM Healthcare Limited Announces Board Reconstitution and Key Management Changes Following Shareholder Vote Approvals

Aster DM Healthcare Limited Announces Board Reconstitution and Key Management Changes Following Shareholder Vote Approvals​

Aster DM Healthcare Limited has finalized significant changes to its Board of Directors and Senior Management Personnel (SMP) following a meeting held on July 1, 2026. The updates reflect the company’s organizational structure adjustments and ongoing governance refinements, including the appointment of several new directors and the resignation of others.

The Board meetings reviewed the implementation of a Scheme of Amalgamation involving Aster DM Healthcare Limited and Quality Care India Limited, approving changes that impact the management framework of the merged entity.

New Director Appointments​

Six appointments were approved by the Board, subject to shareholder approval, effective July 1, 2026. These new members include:

• Mr. Varun Khanna (DIN: 03584124) as an Additional Director, designated as Managing Director and Group Chief Executive Officer (Key Managerial Personnel), for a term of five years.
• Mr. Neeraj Jain (DIN: 00348591) as an Additional Independent Director for a period of three years.
• Mr. Kewal Handa (DIN: 00056826) as an Additional Independent Director for a period of three years.
• Mr. V K Mathews (DIN: 00049414) as an Additional Independent Director for a period of three years.
• Ms. Ayshwarya Vikram (DIN: 08153649) as an Additional NonExecutive Director.
• Mr. Ganesh Mani (DIN: 08385423) as an Additional NonExecutive Director.

Board Resignations​

The company also noted several resignations of directors, effective July 1, 2026:

• Mr. Maniedath Madhavan Nambiar and Mr. C. J. George resigned as Independent Directors.
• Dr. Zeba Azad Moopen and Mr. Shamsudheen Bin Mohideen Mammu Haji resigned as Non-Executive Directors.

Changes in Senior Management Personnel (SMP)​

The Board approved a revised list of SMPs effective July 1, 2026, reflecting changes in the organizational structure. This includes both appointments and cessations across various functional roles.

Key transitions in the senior management team include:

• Resignation: Mr. Hitesh Dhaddha resigned as Chief Investor Relations and M&A Officer, with effect from close of business hours on July 18, 2026.
• Role Changes and Appointments: Several roles were confirmed or newly appointed during the transition, such as Mr. Ramesh Kumar S taking the role of Chief Executive Officer (India I) and Dr. Pawan Kumar being appointed Chief Executive Officer (India II).
• Departures: The SMP list noted cessations for several individuals, including Mr. Durga Prasanna Nayak (Head of Human Resources), Mr. Hemakumar Nemmali (Country Head - Supply Chain Management), Dr. Nalanda Jayadev, and Mr. Vineesh Kumar Ghei.

The roles appointed or changed in designation include:

Employee Stock Option Scheme Amendment​

The Board approved amendments to the Aster DM Healthcare Limited Employee Stock Option Scheme 2026 (ESOP Scheme 2026), which is now named the 'Aster DM Quality Care Limited Employee Stock Option Scheme 2026'. This scheme remains compliant with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Key details of the amended ESOP Scheme 2026 include:

• Total Options: The maximum options that can be granted under the scheme is 1,52,54,268 equity shares.
• Pricing Formula: The exercise price for Options granted until completion of 90 days from the merger shall be INR 319.40 per Option. For options granted post-completion of 90 days, the exercise price will be determined by the Nomination and Remuneration Committee, but not more than a 20% discount on the volume weighted average price for the previous 60 days prior to grant.
• Vesting: Options shall not vest less than one year from the grant date and not more than five years from the grant date.

The Board also approved the change in designation of Ms. Alisha Moopen from Deputy Managing Director to Executive Director, effective July 1, 2026. Furthermore, Dr. Azad Moopen and Ms. Alisha Moopen were re-designated as Non-Key Managerial Personnel of the Company with effect from July 1, 2026.

ASTERDM Stock Price Movement​

Today, shares of Aster DM Healthcare Limited edged higher in the post-market session, settling at ₹790.95 after gaining 1.68%. The stock saw robust activity on the day, with a reported total traded volume amounting to 420,174 shares.