⚡ At a Glance
Oriana Power Ltd’s board meeting on May 28, 2025 was less boardroom and more board-bomb. In just under five hours, they:
- 🧑💼 Promoted two Executive Directors to Whole-Time Directors
- 🕴️ Inducted new faces into Senior Management
- 🔍 Finalized secretarial, internal, and cost auditors
- 💸 Approved a new ESOP Scheme at just ₹10/share
CMP on May 28, 2025: ₹1,631.55 (🔻 -4.01%)
🏢 About the Company
| Detail | Information |
|---|---|
| Name | Oriana Power Ltd (formerly Oriana Power Pvt Ltd) |
| CIN | L35101DL2013PLC248685 |
| Sector | Renewable Energy – Solar EPC, Rooftop, C&I |
| Listed On | NSE Emerge (Symbol: ORIANA) |
| Headquarters | Noida, Uttar Pradesh |
| Website | orianapower.com |
🧑⚖️ Key Managerial Appointments (Board-Level)
| Name | Role | Term | Background |
|---|---|---|---|
| Anirudh Saraswat | Whole-Time Director | 3 Years | 39 yrs, Chemical Engineer, 16+ yrs in Solar, Strategy & Fundraising |
| Parveen Kumar | Whole-Time Director | 3 Years | 39 yrs, Electrical Engineer, ex-MNRE, ex-Lanco, Tech & Product Expert |
📌 Both were already Executive Directors, now officially elevated to Whole-Time Directors pending shareholder approval.
📌 No inter-se relationships between the directors — so no “family-owned” drama here.
👨💻 Senior Management Inductions (SMPs)
| Name | Designation | Experience | Previous Org |
|---|---|---|---|
| Randeep Plaha | Executive Director – Finance & Accounts (Non-Board) | 21 years in finance, ex-CFO at B N Agritech | Project Finance, Treasury, M&A |
| Varun Kumar Prabhakar | General Counsel – Legal & Corporate Governance | 15+ years in law & compliance, ex-Devyani Intl | Secretarial, Litigation, Corporate Law |
💼 These additions show Oriana’s serious intent in strengthening internal controls and compliance ahead of scale.
🧾 Auditors Appointed for FY25–26
| Auditor | Type | Notes |
|---|---|---|
| Surya Gupta & Associates | Secretarial Auditor | Delhi-based PCS firm with listed and SME clients |
| MVM Jain & Associates | Internal Auditor | Active since 2008; Tax, Audit, FEMA, Fraud Investigation |
| Kailash Kumar Jha & Co. | Cost Auditor | Ghaziabad firm with 8+ yrs in audit and assurance |
🎯 Auditor rotation indicates good governance hygiene — and a clean-up before growth moves?
🎁 The ₹10 Surprise — Oriana ESOP 2025 Scheme
Employees, rejoice! The Board approved an ESOP Scheme that’s almost a gift:
| Detail | Info |
|---|---|
| Name | Oriana Employees Stock Option Scheme 2025 |
| Total Options | 2,03,190 options (approx. 1% of total capital) |
| Exercise Price | ₹10 per share (Yes. Not a typo.) |
| Current CMP | ₹1,631.55 (as of May 28, 2025) |
| Vesting | As decided by NRC, up to 4 years post vesting |
| Granted Yet? | No. Will be done after shareholder approval. |
💡 Face value pricing for ESOPs is becoming rare these days — unless you’re either super confident or desperate to retain talent. Oriana seems like the former.
📬 Postal Ballot on the Way
To formalize everything, Oriana will conduct a postal ballot vote to seek shareholder approval for:
- 🧑💼 Appointing the Whole-Time Directors
- 🎁 Implementing the ESOP Scheme 2025
Ballot documents will be shared with stock exchanges shortly.
🔍 EduInvesting Take
This wasn’t just a board meeting. It was Oriana quietly loading the rocket:
- ✅ New Directors with real solar tech + fundraising muscle
- ✅ Legal + finance heads added for scalability
- ✅ Governance upgrades with audit rotations
- ✅ And an ESOP scheme that’s basically a 99.4% discount to CMP
They’re not playing the quarterly game. They’re prepping for something bigger.
⚠️ Red Flags?
- CMP dropped 4% on the same day. Profit booking? Or market not impressed by the announcements?
- ESOP dilution is minor (~1%) but still something to track.
- No update on financials, order book, or revenue targets — a pure governance move.
🚀 Final Word
Oriana Power just put out a 5-hour boardroom firecracker — not for the cameras, but for the future. While most smallcaps stumble through governance, these guys seem to be building the backend before chasing the bull run.
If you’re watching India’s solar space — Oriana may be boring on the surface but is clearly revving something big under the hood.
📅 Published: May 29, 2025
✍️ By: Prashant Marathe
Tags: Oriana Power, Board Meeting 2025, NSE Emerge, Solar Stocks, ₹10 ESOPs, Anirudh Saraswat, Parveen Kumar, Auditor Appointment, Corporate Governance, EduInvesting
