🔌 At a glance:
In a 33-minute board meeting, Adani Power:
- Appointed Shersingh Khyalia as Whole-Time Director & CEO,
- Added two high-profile independent directors — Manmohan Srivastava (IAS) and Shailesh Haribhakti (Audit Guru),
- And reaffirmed its push for governance + power sector dominance.
Stock didn’t cheer though — it closed down 1.46% at ₹543.90.
👔 Boardroom Reshuffle – Who’s Who?
| 👤 Name | 🏢 Role | 🕒 Term |
|---|---|---|
| Shersingh Khyalia | Promoted to Whole-Time Director & CEO | 3 years from May 31, 2025 |
| Manmohan Srivastava (IAS Retd.) | Non-Executive, Independent Director | 3 years from May 31, 2025 |
| Shailesh Haribhakti | Non-Executive, Independent Director | 3 years from Nov 4, 2025 |
This lineup isn’t just about rotation — it’s Adani trying to power up credibility and prep for the next growth phase.
👨💼 Spotlight: Shersingh Khyalia
The man’s resume reads like a PSU leaderboard:
- Chartered Accountant ✔️
- Ex-GUVNL, Ex-GPCL MD ✔️
- Experience in power trading, regulation, renewables, finance, legal, UMPPs ✔️
- Joined Adani Power as CEO in Dec 2021
- Now officially elevated to Board as CEO & Whole-Time Director
In short: He’s seen it all — DISCOMs, PPAs, and SEZs. Probably has load-shedding nightmares too.
🧠 The Independents
🕴️ Mr. Manmohan Srivastava
- Ex-Finance Secretary, Govt of Gujarat
- Ex-Commissioner of Commercial Tax
- Ex-MD of Gujarat Agro Industries
- Pure IAS brain with deep state and infra roots
📊 Mr. Shailesh Haribhakti
- Audit royalty. SEBI committee alumnus. NPS Trust ex-Chairman.
- Known for “Innovate to Zero” + ESG evangelism
- Clean, green, and seen everything
These aren’t token picks. They bring regulatory depth, clean image, and institutional comfort.
🧾 SEBI Compliant? ✅
All 3 directors:
- Are not debarred
- Are not related to any current board member
- Satisfy independence criteria
This is the kind of roster you put in place when you’re gearing up for big capital moves or regulatory visibility.
🧠 EduInvesting Take
Adani Power’s growth isn’t just about megawatts. It’s about narrative control.
Here’s what this move tells us:
- Internal elevation (Khyalia) = Stability
- Regulatory + audit muscle (Srivastava & Haribhakti) = Market signalling
- Rapid governance tweaks = Something big incoming?
Maybe a merger with another Adani utility? Maybe a listing plan for the green energy vertical? Definitely something brewing.
📉 Market Reaction
| Date | Price | Change |
|---|---|---|
| 30 May 2025 | ₹551.95 | – |
| 31 May 2025 | ₹543.90 | ▼ ₹8.05 (-1.46%) |
Investors are either too used to Adani moves… or waiting for bigger signals.
🎯 What to Watch
| 🚨 What’s Next | When |
|---|---|
| AGM approvals | Q2 FY26 |
| Green or RE demerger plan? | TBD |
| Possible QIP / debt restructuring? | H2 FY26 |
| Institutional entry (again)? | After board revamp settles |
💬 Final Punchline:
In the world of power, boardroom wattage matters.
Adani Power just added serious voltage.
If it’s just optics — well, it’s working.
If it’s real governance prep — we might be looking at India’s next utilities kingpin.
Author: Prashant Marathe
Date: 31 May 2025
Tags: Adani Power, Shersingh Khyalia, Independent Director Appointment, Shailesh Haribhakti, Manmohan Srivastava, Board Reshuffle, EduInvesting
