Mangal Credit & Fincorp Limited has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to operate as a Corporate Agent (Composite). The license, dated April 24, 2026, was granted under the Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015, and was communicated to stock exchanges in compliance with Regulation 30 and Regulation 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

License Details

The Corporate Agent (Composite) license authorizes the company to procure or solicit insurance business in the Composite category. This regulatory approval enables Mangal Credit & Fincorp Limited to offer insurance products directly to its customers, expanding its service portfolio.

Business Impact

With this license, the company gains the capability to solicit insurance products to its customers as a Corporate Agent. The approval represents a strategic expansion of the company's business operations into the insurance distribution segment. There are no withdrawals, cancellations, or suspensions of any existing licenses, and no penalties have been imposed by the regulatory authority.

Regulatory Compliance

The intimation was submitted by Hardik Meghraj Jain, Executive Director of the company, with DIN: 07871480. The communication was addressed to both BSE Limited and National Stock Exchange of India Limited for necessary record-keeping purposes. The disclosure was made in compliance with Regulation 30 and Regulation 51 of SEBI Listing Regulations and Para 12 of Part B of Annexure 18 to Section V-A of SEBI Master Circular.

Mangal Credit & Fincorp Limited has informed stock exchanges that it does not qualify as a Large Corporate under the SEBI framework established through circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023. The disclosure was made on April 15, 2026, confirming the company's status as of March 31, 2026.

Financial Position and Credit Rating

The company provided detailed information regarding its financial standing and credit profile to demonstrate non-applicability of the Large Corporate framework.

Regulatory Compliance Status

Based on the framework and applicability criteria prescribed in the SEBI circular, Mangal Credit and Fincorp Limited confirmed it does not meet the threshold requirements for classification as a Large Corporate. This determination was made following a comprehensive assessment of the company's financial parameters against the regulatory benchmarks.

Disclosure Requirements

As a result of not falling under the Large Corporate category, the company is exempt from specific regulatory obligations. The key implications include:

• No requirement for initial disclosure submission under the SEBI framework
• Annual disclosure requirements under the circular are not applicable
• The company will not be subject to the enhanced compliance measures prescribed for Large Corporates

Stock Exchange Communication

The disclosure was simultaneously submitted to both BSE Limited (Scrip Code: 505850) and National Stock Exchange of India Limited (Scrip Symbol: MANCREDIT). The communication was signed by Hardik Meghraj Jain, Executive Director (DIN: 07871480), confirming the company's compliance status and requesting the exchanges to take the information on record.

This regulatory disclosure provides clarity on the company's compliance obligations and confirms its current status under the SEBI framework for Large Corporates.