Info Edge's board has appointed Himanshu Agarwal as Chief Financial Officer and Additional Director, effective September 17, 2026. According to the latest regulatory filing, Agarwal will be designated as Whole-time Director and CFO for five consecutive years from September 17, 2026 to September 16, 2031, subject to shareholder approval and other applicable statutory approvals. With this appointment, Ambarish Raghuvanshi's tenure as Interim CFO and Key Managerial Personnel will conclude at the close of business hours on September 16. However, Raghuvanshi will continue to be associated with Info Edge as Finance Advisor and Senior Management Personnel until October 31 to support the transition and handover of responsibilities. As per Info Edge management, Agarwal brings over three decades of experience in finance leadership, corporate governance, mergers and acquisitions, and business transformation across listed organisations in India and internationally.
The board also appointed Naresh Chand Gupta as an Additional Director, to be designated as Non-Executive Independent Director, for five years from October 1, 2026 to September 30, 2031, subject to shareholder approval through postal ballot. As reported by Business Standard, Gupta previously served as an independent director on Info Edge's board from 2007 to 2023 and brings extensive technology experience, including nearly two decades at Adobe, where he also served as Managing Director of its India R&D Center. According to Info Edge, Gupta is a designated partner in Accuracap Technologies LLP and Chief Scientist in Accuracap Consultancy Services Private Limited, and currently serves as Independent Director on the boards of eClerx Services Limited and NoPaperForms Solutions Limited. Gupta will join the board on October 1, 2026, pending shareholder approval.
Info Edge Managing Director and CEO Hitesh Oberoi welcomed the leadership changes, highlighting Agarwal's experience across finance leadership, M&A and governance. As per Moneycontrol, Storyboard18, CNBC TV18, and Business Standard, Oberoi stated that Agarwal's expertise would strengthen the company's finance and leadership capabilities. The CEO also welcomed Gupta back to the board, citing his technology expertise and experience as valuable additions to the company's leadership team. Chairman Kapil Kapoor emphasized that Gupta brings significant experience and a deep understanding of the technology ecosystem, adding valuable perspective as the company continues to evolve and grow in the new AI world. The management expressed gratitude to Raghuvanshi for his valuable contribution and leadership during his tenure as Interim CFO and for supporting the company through this transition period, crediting him with providing continuity and stability during the interim period.
The board has reconstituted key committees to include the new CFO and independent director. Geeta Mathur continues as Chairperson of the Risk Management Committee, with members including Sanjeev Bikhchandani, Hitesh Oberoi, and Himanshu Agarwal. The Business Responsibility and Sustainability Reporting Committee is chaired by Sanjeev Bikhchandani, with members Hitesh Oberoi, Himanshu Agarwal, and Naresh Chand Gupta. Ambarish Raghuvanshi remains an invitee to the Risk Management Committee until October 31, 2026, ensuring operational continuity during the transition period. The board has also revised authorization for determining materiality of events under Regulation 30(5) of the SEBI Listing Regulations, with authorized Key Managerial Personnel including Executive Vice Chairman Sanjeev Bikhchandani, Managing Director and CEO Hitesh Oberoi, CFO Himanshu Agarwal, and Company Secretary Jaya Bhatia. With Agarwal's appointment as Whole-time Director, the CFO role now becomes a permanent member of Info Edge's executive board structure.
These leadership modifications aim to enhance Info Edge's financial and leadership capabilities as it continues to prioritise its internet businesses and technology investments. According to Moneycontrol, Storyboard18, CNBC TV18, and Business Standard, the company stated that these changes will strengthen its core businesses and build long-term shareholder value. Info Edge shares slipped over 1% in Friday's trade, reflecting market reaction to the leadership announcement. However, in the past 6 months of trading, the company's shares have seen a surge of 32%, taking the total stock price to ₹1,250.90 per share, which is below the 52-week high mark of ₹1,433.60 per share. The simultaneous appointment of a permanent CFO and experienced independent director signals a stabilization of the company's governance structure after a nearly ten-month interim period, with the retention of the outgoing interim CFO as Finance Advisor for over six weeks suggesting deliberate focus on operational continuity during this leadership handover.
Meanwhile, as reported by Moneycontrol, Info Edge-backed NoPaperForms Solutions, a Gurugram-headquartered education-focused technology platform, filed its updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise capital through an IPO. The AI-powered education SaaS provider has proposed to raise ₹375 crore through a fresh issue of equity shares, along with an offer for sale (OFS) of 3.84 crore equity shares by investor Startup Investments (Holding). The company is also considering a pre-IPO placement of up to ₹75 crore before filing the red herring prospectus.
