National Stock Exchange of India Limited has imposed a penalty of ₹8,69,600 on Nuvama Wealth and Investment Limited (NWIL), a wholly owned material subsidiary of Nuvama Wealth Management Limited. The penalty was communicated through an official letter received on April 22, 2026, and pertains to operational observations related to margin statements and reporting identified during a comprehensive inspection.

Regulatory Filing Details

Nuvama Wealth Management Limited disclosed this development through a regulatory filing dated April 23, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was addressed to both BSE Limited and National Stock Exchange of India Limited, with BSE scrip code 543988 and NSE symbol NUVAMA.

Inspection and Violations

The penalty stems from operational observations noted during a comprehensive inspection conducted by SEBI jointly with exchanges and depositories. The inspection covered the period from December 2023 to September 2024, focusing on margin statements and reporting compliance. NSE has advised the company to ensure that non-compliance with the observations noted during the inspection do not reoccur in future.

Company Response and Impact

Nuvama Wealth Management Limited has clarified that there is no impact on the financials, operations, or other activities of the listed entity or its subsidiaries and associates as a result of this penalty. The company is in the process of filing a review application seeking waiver of the penalty and disciplinary action.

The regulatory disclosure was signed by Sneha Patwardhan, Company Secretary and Compliance Officer of Nuvama Wealth Management Limited. The official communication was filed under reference number NWML/SEC/2027/4 and submitted to both stock exchanges as per regulatory requirements.

Nuvama Wealth Management Limited has submitted its quarterly compliance certificate to stock exchanges for the quarter ended March 31, 2026, in accordance with SEBI Depositories and Participants Regulations. The filing demonstrates the company's adherence to mandatory regulatory requirements governing securities dematerialisation processes.

Regulatory Compliance Filing

The certificate was filed under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. Company Secretary and Compliance Officer Sneha Patwardhan submitted the documentation to both BSE Limited and National Stock Exchange of India on April 6, 2026.

Registrar Confirmation

MUFG Intime India Private Limited, serving as the company's registrar and share transfer agent, issued the compliance certificate dated April 1, 2026. The registrar confirmed that all securities received from depository participants for dematerialisation during the quarter were properly processed within prescribed timelines.

The certificate validates that security certificates received for dematerialisation were appropriately confirmed or rejected, with physical certificates being mutilated and cancelled after due verification. Additionally, the names of depositories were substituted in the register of members as registered owners according to regulatory requirements.

Corporate Governance

This quarterly filing represents part of Nuvama Wealth Management's ongoing compliance with SEBI regulations governing depositories and participants. The systematic submission of such certificates ensures transparency in securities handling and maintains investor confidence in the company's operational processes.

The documentation confirms that the company's securities infrastructure operates in accordance with established regulatory frameworks, supporting efficient dematerialisation services for shareholders.