IndoStar Capital Finance Limited has informed the Exchange regarding Notice of Postal Ballot
INDOSTAR · price
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Awaiting price reaction for this filing.
IndoStar Capital Finance Limited has issued a Postal Ballot notice seeking shareholder approval to re-designate Mr. Randhir Singh (DIN: 05353131) as Managing Director designated as Executive Vice Chairman, effective May 11, 2025, until the end of his current term on July 21, 2029. Mr. Singh was originally appointed as Whole-Time Director (Executive Vice Chairman) in July 2024, and the re-designation keeps his existing compensation unchanged at ₹5 crore for FY26 and ₹5.5 crore for FY27, as per the Management Agreement dated May 22, 2024. Voting will be conducted electronically from July 5, 2025 to August 3, 2025, with results to be declared on or before August 5, 2025. The company is an RBI-registered NBFC focused on commercial vehicle and SME financing, reporting FY25 standalone PAT of ₹52.59 crore on total income of ₹1,412.41 crore and net worth of ₹3,411 crore. Mr. Singh brings 31+ years of experience across Deutsche Bank, Citibank, Edelweiss and APAC Financial Services.
This is a formal corporate governance step that elevates an existing executive's designation; the terms of pay and tenure remain unchanged from what shareholders already approved in June 2024. The stock is unlikely to see material price action from this, but shareholders must vote during the e-voting window to approve the special resolution.