Aavas Financiers has announced a significant leadership transition following its Board meeting held on April 20, 2026. The company has officially disclosed the outcome under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming the resignation of Mr. Sachinderpalsingh Jitendrasingh Bhinder from the position of Managing Director & Chief Executive Officer, effective from the close of business hours on April 20, 2026.

Board Decision and Regulatory Compliance

The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Manu Yeshpal Singh as the new Managing Director & Chief Executive Officer. The appointment as Chief Executive Officer is effective from April 21, 2026, while the appointment as Managing Director will become effective upon receipt of approval from the Reserve Bank of India and approval of the shareholders of the company.

Leadership Transition Details

Profile of New Managing Director & CEO

Mr. Manu Yeshpal Singh brings more than 25 years of experience across retail lending, housing finance, and consumer banking. His career spans prestigious organizations including Kotak Mahindra Bank, Tata Capital, ICICI Bank, and Tata Motors. At Kotak Mahindra Bank, he served as President & Business Head for Housing Finance, overseeing a 70,000.00 crore franchise. He was elevated twice in five years, most recently in 2024, reflecting his leadership impact.

Prior to his role at Kotak, Mr. Singh spent over a decade at Tata Capital, where he managed an 8,000.00 crore Personal Loans and Business Loans book. His responsibilities included retail lending products such as auto loans, two-wheeler loans, consumer durables, commercial vehicle finance, business loans, home loans, and home equity. Earlier at ICICI Bank, he became the youngest AGM, managing 3,000.00 crore in monthly inventory funding for two-wheeler loans to OEMs.

Meeting and Compliance Details

The Board meeting commenced at 8:19 A.M. and concluded at 8:34 A.M. on April 20, 2026. The information has been disclosed to both NSE and BSE under the required regulatory framework. Mr. Sachinderpalsingh Jitendrasingh Bhinder will continue to serve as a senior advisor to provide continuity and support as required during the transition period.

Aavas Financiers Limited has issued a formal clarification to stock exchanges regarding recent market speculation and news coverage about the company. The housing finance company addressed queries from both BSE Limited and the National Stock Exchange of India Limited on April 13, 2026, through a regulatory filing under SEBI Regulation 30.

Company's Response to Market Speculation

The company categorically stated that recent news items are speculative and not based on any official information from Aavas Financiers Limited. In its communication to the exchanges, the company emphasized its policy of not commenting on market speculation or rumors that may circulate in the media or trading community.

Board Governance and Material Disclosures

Aavas Financiers clarified that while its Board routinely reviews strategic and leadership matters as part of standard governance processes, there are currently no material events that require disclosure under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company reaffirmed its commitment to making appropriate disclosures in accordance with regulatory requirements as and when necessary.

Market Movement Clarification

Regarding any price movements in its equity shares, the company stated that such fluctuations are purely due to market conditions and are absolutely market-driven. Aavas Financiers emphasized that it neither has control over nor knowledge of specific reasons for any increase in its share price, highlighting that these movements are independent of company actions.

Impact Assessment

The housing finance company confirmed that the news articles in question have no material impact on its operations or business. This statement provides clarity to investors and stakeholders about the company's assessment of the speculative coverage and its potential effects on business fundamentals.

The clarification was signed by Saurabh Sharma, Company Secretary and Compliance Officer, and submitted to both major Indian stock exchanges as part of the company's regulatory compliance obligations.