In continuation to Intimation dated July 28, 2025, August 11, 2025 and August 27, 2025, the resignation of Mr. Chandan Kumar Bhardwaj, CEO and Mr. Abhijeet Sharma, CFO of the Company has ....

CEO resignedCFO resignedExternal CEO appointedKey managerial personnel resignedManagement Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+0.1%Reaction day

₹9.26

prior close

₹9.48

announcement price

In-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+1.3%-1.2% vs market

Non Banking Financial Company (NBFC) peers, median of 200sector+0.0%+0.1% vs sector

On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 0.1 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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15m

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Sessions after the filingfrom the prior close

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Reaction day

+0.1+1.3-1.2+0.0+0.1

Next day

-0.8+2.1-2.9+0.4-1.2

+1.4+3.1-1.7+0.7+0.7

+1.0+2.5-1.5+0.5+0.5

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15d

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-7.0+4.5-11.6+2.5-9.5

-13.6+0.3-13.9-0.8-12.8

UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 200Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Kalyan Capitals Ltd has informed the BSE that both its top executives have stepped down. Mr. Chandan Kumar Bhardwaj resigned as CEO effective August 31, 2025, after serving for only about 5 months, and Mr. Abhijeet Sharma resigned as CFO on the same date. The company has appointed Mr. Anshu Agarwal as the new CEO with effect from September 1, 2025. Mr. Agarwal is a finance and management professional with over 25 years of experience, and was previously the CFO of Race Eco Chain Limited from 2001 to 2023. The resignations and appointment have been disclosed under SEBI Listing Regulations, with detailed reasons to be found in the resignation letters enclosed.

Likely market impact

Losing both the CEO and CFO within a short span is a significant governance event and may raise concerns about leadership stability and internal decision-making at the company. Shareholders should watch for further clarity on the reasons behind the exits and how smoothly the new CEO transitions in, as frequent KMP changes at a small-cap company can affect investor confidence.