Arco Leasing Limited has expanded its senior leadership team by appointing Atul Ramshankar Jaiswal and Jitesh Kothari as Whole-Time Directors. The Board of Directors approved the appointments during a meeting held on July 23, 2026, with both executives taking office immediately for five-year terms ending on July 22, 2031. The appointments are subject to approval by shareholders at an upcoming general meeting.

The additions signal a strategic focus on strengthening financial oversight and corporate governance within the leasing firm. Both Jaiswal and Kothari are qualified Chartered Accountants with deep expertise in taxation, audit, and regulatory compliance. Their backgrounds suggest an intent to bolster the company’s financial advisory capabilities and ensure robust adherence to statutory requirements under the Companies Act and SEBI regulations.

The appointments were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The Nomination and Remuneration Committee recommended the hires before they were put forward to the Board.

Appointment Details

Atul Ramshankar Jaiswal brings over eight years of professional experience in financial reporting, taxation, auditing, and business advisory services. A Commerce graduate from the University of Mumbai, he previously worked as a practicing Chartered Accountant from September 2017 to January 2026 and is currently an Independent Consultant. His expertise spans direct and indirect taxation, statutory and internal audits, GST, ROC matters, and financial planning.

Jitesh Kothari offers over nine years of diversified experience in audit, assurance, taxation, capital markets, and fundraising. Also a Commerce graduate from the University of Mumbai, he practiced as a Chartered Accountant from February 2016 to July 2024 and is now an Independent Consultant. Kothari has served as faculty for ICAI Orientation Programmes and possesses experience as a Research Analyst in financial markets, advising clients on IPOs, Alternative Investment Funds (AIFs), and investment strategies.

Compliance Declarations

Both appointees have declared that they are not related to any existing Director or Key Managerial Personnel (KMP) of Arco Leasing Limited. Furthermore, in accordance with BSE Circular No. LIST/COMP/14/2018-19 dated June 20, 2018, the company affirmed that neither Jaiswal nor Kothari is debarred from holding the office of director by any order of SEBI or other authorities.

The Board meeting commenced at 3:00 PM and concluded at 4:30 PM on July 23, 2026. Akash Dubey, Managing Director of Arco Leasing Limited, signed the disclosure.

Mr. Jitesh Kothari and Mr. Atul Ramshankar Jaiswal have initiated a mandatory open offer to acquire up to 27,74,970 equity shares, representing 25.57% of the expanded voting share capital of Arco Leasing Limited , at a price of ₹10.00 per share. The offer, aggregating to a maximum consideration of ₹2,77,49,700, is pursuant to the substantial acquisition of shares and change in control triggered by the execution of a share purchase agreement and a share subscription agreement. The tendering period for the open offer is scheduled to commence on Friday, July 03, 2026, and conclude on Thursday, July 16, 2026.

The Committee of Independent Directors (IDC) reviewed the offer documents and recommended that shareholders evaluate the offer independently, noting the price is in line with SEBI (SAST) Regulations. The offer is not conditional upon a minimum level of acceptance and is not a competing offer. The acquirers have made adequate financial arrangements, including an escrow account deposit, to fulfil their obligations.

Key Offer Details

Background and Approvals

The open offer follows the acquirers' agreement to purchase 1,28,600 equity shares from the selling promoter shareholders and subscribe to 79,50,000 equity shares via a preferential issue. The subsidiary of the target company, Ansu Trade & Fiscals Private Limited, has received necessary approvals from the Reserve Bank of India for the proposed change in control and management. The shareholders of the target company approved the preferential issue at the Extraordinary General Meeting held on April 13, 2026, and the company received in-principle approval from BSE dated June 29, 2026.

The offer price of ₹10.00 per share has been determined in accordance with the SEBI (SAST) Regulations, 2011, being higher than the negotiated price of ₹6.00 per share under the share purchase agreement and the issue price of ₹10.00 per share under the share subscription agreement. The equity shares of the target company are infrequently traded on the BSE Limited.