Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the Postal Ballot Notice dated June 5, 2025 along with the ....
Awaiting price reaction for this filing.
SBI Cards has issued a Postal Ballot Notice seeking shareholder approval for the appointment of Mr. Shamsher Singh (DIN: 09787674) as a Nominee Director on its Board, with effect from April 17, 2025. Mr. Singh was nominated by State Bank of India (the promoter) via a letter dated March 11, 2025, and was provisionally appointed by the Board subject to shareholder approval. He currently serves as Deputy Managing Director (Transaction Banking & New Initiatives) at SBI, with over three decades of banking experience. The resolution will be passed as an Ordinary Resolution through remote e-voting via NSDL, with the voting window open from June 11, 2025 (10:00 AM) to July 10, 2025 (5:00 PM). The cut-off date for determining eligible voters is June 6, 2025, and results will be declared within two working days after the voting concludes.
This is a routine corporate governance step to formalize an already-effective board appointment made by the promoter (SBI). Since SBI is the institutional promoter and holds the majority stake, approval is virtually assured, and the event is unlikely to have any material impact on shareholders or the stock price.