PTC India Financial Services extended the tenure of Rajiv Malhotra as Managing Director and Chief Executive Officer (Additional Charge) for one year, effective December 1, 2026, through November 30, 2027.

The decision was taken by the board at its meeting held on October 12, 2026, following the recommendation of the Nomination and Remuneration Committee. Malhotra initially assumed the role of MD&CEO (Additional Charge) on July 1, 2026, with his initial term set to conclude on November 30, 2026. The extension is subject to approval from shareholders via a postal ballot process that will be initiated in due course.

Leadership continuity and governance updates

In addition to the executive leadership extension, the board approved the continuation of Manohar Balwani as Company Secretary and Compliance Officer. His tenure has been extended for one year, effective November 6, 2026, until November 5, 2027. Balwani joined the company as Company Secretary Designate in November 2024 and assumed full charge in December 2024.

The board also appointed Govinda Garg, AVP-CS, or other officers nominated by the MD&CEO, as the Nodal Officer. This appointment facilitates coordination with PTC India Limited and its advisors regarding the exploration of opportunities for monetizing its investment in the subsidiary.

Strategic context: Stake monetization efforts

The appointment of the Nodal Officer follows a disclosure by holding company PTC India Limited on May 19, 2026, regarding its decision to re-initiate processes for exploring stake monetization opportunities. The company clarified that this authorization does not constitute approval of any divestment or transfer of shares, nor does it indicate that any transaction has been finalized.

Profile highlights

Rajiv Malhotra brings over 36 years of experience in the utility and energy sector. He holds a Mechanical Engineering degree from NIT Kurukshetra and a Post Graduate Program in Management from IIM Lucknow, along with a Chartered Financial Analyst (CFA) charter. Prior to his current role, he served as Executive Director and Group Chief Risk Officer at PTC India Ltd since June 2013.

Manohar Balwani is a Company Secretary and Cost and Work Accountant with over four decades of experience. Before joining PTC India Financial Services, he served as Executive Director - Company Secretary at Power Finance Corporation Limited.

PTC India Financial Services Limited has submitted its half-yearly statement of outstanding debt securities as on September 30, 2026. The filing details two plain vanilla debt securities with a coupon rate of 9.15% and annual payment frequency.

The disclosure was made pursuant to SEBI Master Circular SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025. The company provided the data to BSE Limited, National Stock Exchange of India Limited, National Securities Depository Limited, and Central Depository Services (India) Limited.

Outstanding debt securities details

The statement lists two specific ISINs issued on March 30, 2012, both maturing on March 30, 2027. Both instruments feature a put option available every year after seven years post allotment, starting from March 30, 2019.

What the Numbers Show

The data reveals a reduction in outstanding amounts for both listed securities compared to their issuance values. For the first security, the outstanding amount of ₹2,13,70,000 is lower than the issued amount of ₹2,61,25,000. Similarly, the second security shows an outstanding balance of ₹6,44,55,000 against an issuance of ₹8,41,45,000. This indicates partial repayment or redemption activity since the original issue date in 2012.