Megasoft Ltd appoints new CEO, announces resignation of MD & CEO

The Board of Directors of Megasoft Ltd at their Meeting held on 10.12.2021, noted / confirmed the Resignation of Mr. G V Kumar as Chief Executive Officer and Managing Director of the Company.

The Board also noted / confirmed the resignation of Mr. Upendar Mekala Reddy as an Independent Director of the Company.

The Board approved the Appointment of Mr. Sunil Kumar Kalidindi as an Additional Director (Professional, Executive) & CEO.

Mr. Sunil Kumar Kalidindi has done Bachelor of Engineering from PSG College of Engineering, Coimbatore and obtained a Masters degree in management from University of Leicester[UK) and a Masters degree in Finance from London Business school.

He has worked with M/s Fitchner India Limited, Chennai before joining the KVK group. As a CEO, he contributed to the group companies in developing, managing and operating power plants. He has lead the Group in corporate finance and fund raising. He has specialized in the areas of Commercial, business development and day to day operations of the Companies.

He has also pioneered a software venture for smart metering with government Utilities. He has built an e-commerce platform for coal trading which has some large corporates as its clients.

He has lead an acquisition of a web based power trading platform recently which acts Iike a power exchange for generators and consumers.

Shares of Megasoft Limited was last trading in BSE at Rs. 40.40 as compared to the previous close of Rs. 39.75. The total number of shares traded during the day was 153133 in over 663 trades.

The stock hit an intraday high of Rs. 41.60 and intraday low of 37.80. The net turnover during the day was Rs. 6019304.00.

Source : Equity Bulls

Keywords

Megasoft INE933B01012 Resignation CEO MD IndependentDirector Appointment