IIFL Capital Services Limited has informed the Exchange regarding Notice of Postal Ballot
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IIFL Capital Services has issued a postal ballot notice seeking shareholder approval to appoint Mr. R. Venkataraman (Co-promoter of IIFL Group) as Managing Director for a 5-year term effective March 22, 2025, at a gross remuneration of Rs. 6 crore per annum. The appointment follows the resignation of the previous Managing Director Mr. Nemkumar H on March 19, 2025, who has been redesignated as Chief Growth Officer within the company. Mr. Venkataraman, aged 58, is an IIT Kharagpur and IIM Bangalore alumnus with over 32 years of experience in financial services and has been on the board since May 13, 2019. He holds approximately 1.11 crore shares in the company. The e-voting window is open from May 8, 2025 to June 6, 2025, with results to be announced within two working days thereafter.
This is an internal leadership transition with a co-promoter taking the top executive role, which signals continuity and strategic stability for shareholders. The outgoing MD remains within the company in a business development role, ensuring smooth handover without disruption.