India Finsec Limited EGM Scheduled for April 24, 2026 to Approve Subsidiary IPO

India Finsec Limited has scheduled its Extra-Ordinary General Meeting for April 24, 2026 at 11:30 AM through Video Conferencing to approve the Initial Public Offering of its subsidiary IFL Finance Limited and re-appointment of an independent director. The company issued the formal EGM notice on March 30, 2026, following board approval on March 27, 2026.

Subsidiary IPO Approval

The primary agenda involves approving the IPO of IFL Finance Limited, formerly known as IFL Housing Finance Limited. The proposed public offering represents a strategic initiative to unlock shareholder value and enhance the subsidiary's market presence.

Component Details Fresh Issue Up to 3,60,00,000 equity shares Offer for Sale Up to 40,00,000 equity shares Total IPO Size Up to 4,00,00,000 equity shares Listing Venue BSE Limited and other recognized exchanges

The IPO process remains subject to shareholder approval and receipt of requisite statutory and regulatory approvals from SEBI, stock exchanges, and other relevant authorities.

EGM Schedule and Voting Process

The company has established a comprehensive timeline for shareholder participation, accommodating both remote e-voting and virtual meeting attendance.

Event Date & Time Details EGM Date April 24, 2026 at 11:30 AM Virtual meeting via VC/OAVM Cut-off Date April 17, 2026 Eligibility determination E-voting Period April 21-23, 2026 9:00 AM to 5:00 PM Book Closure April 17-24, 2026 Both days inclusive Scrutinizer M/s Sarita Singh & Associates C.P. No: 24682

Independent Director Re-appointment

The EGM will also consider the re-appointment of Mr. Devi Dass Agarwal as Independent Director for a second consecutive term. His extensive banking experience includes 39 years with Central Bank of India, retiring as Assistant General Manager in January 2020.

Parameter Details Director Name Mr. Devi Dass Agarwal DIN 09152596 Current Term End June 30, 2026 Proposed New Term July 1, 2026 to June 30, 2031 Qualifications B.Com, LL.B, CAIIB

Mr. Agarwal holds no shareholding in the company and maintains no relationships with other directors or key managerial personnel.

Regulatory Compliance

The EGM notice has been issued in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The meeting will be conducted through video conferencing in accordance with MCA circulars and SEBI guidelines, with the deemed venue being the company's registered office in New Delhi. The company has appointed M/s Sarita Singh & Associates as the scrutinizer for the e-voting process to ensure fair and transparent proceedings.

India Finsec Limited's promoter group has submitted a revised disclosure under Regulation 31 of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, regarding the release of pledge on equity shares. The disclosure, dated March 28, 2026, was submitted by Gopal Bansal HUF to BSE Limited, detailing the partial release of encumbered shares from Motilal Oswal Financial Services Limited.

Updated Promoter Shareholding and Encumbrance Status

Following the recent pledge release activities, the promoter group's encumbrance position has been significantly modified. The collective promoter shareholding remains at 55.98% of total share capital, but the encumbered portion has been reduced to 71.10% of promoter shareholding.

Parameter: Current Status Total Promoter Shares: 16,342,062 Promoter Shareholding %: 55.98% Encumbered Shares %: 71.10% Beneficiary Entity: Motilal Oswal Financial Services Limited

Pledge Release Details

The disclosure reveals specific pledge release transactions executed on March 26 and 27, 2026. Key promoters have released portions of their pledged shareholdings while maintaining substantial encumbered positions for intraday margin purposes.

Promoter Name: Total Shares % of Share Capital Released Shares Post-Release Encumbered Ganga Devi Bansal: 7,60,665 2.61% 1,72,998 5,87,667 (2.01%) Gopal Bansal HUF: 21,13,000 7.24% 15,65,002 5,47,998 (1.88%) Gopal Bansal LLP: 3,95,000 1.35% 1,86,945 2,08,055 (0.71%)

Maintained Encumbrance Positions

Several major promoters have maintained their existing pledge positions without any release activities. These unchanged encumbrances continue to represent significant portions of the total promoter shareholding.

Promoter Name: Encumbered Shares % of Share Capital Status Gopal Bansal: 40,15,741 13.76% Unchanged Daisy Distributors Private Limited: 45,37,050 15.54% Unchanged Sunita Bansal: 12,95,530 4.44% Unchanged Arvind Kumar Bansal: 10,11,012 3.46% Unchanged

Financial Implications and Regulatory Compliance

The encumbrance continues to involve substantial financial values, with the remaining pledged shares valued at ₹593.53 crore. All pledges remain in favor of Motilal Oswal Financial Services Limited for intraday margin purposes. The disclosure confirms that the encumbered shares still exceed both the 50% threshold of promoter shareholding and 20% of total share capital, maintaining regulatory disclosure requirements.

Purpose and Transaction Structure

The released shares were specifically designated for intraday margin purposes, with the encumbrance structured as pledges. The disclosure indicates that the borrowed amount utilization details continue to fall under intraday margin requirements, with the end-of-day value being zero, reflecting the nature of intraday trading facilities provided by Motilal Oswal Financial Services Limited.

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