The Board of Directors of Religare Finvest Limited (RFL), a material subsidiary of Religare Enterprises Limited, has approved the appointment of Mr. Srinivasan Karthik as Chief Executive Officer (CEO) and Key Managerial Personnel (KMP) of RFL, effective May 05, 2026. The decision was taken at a Board meeting held on April 28, 2026, based on the recommendation of the Nomination & Remuneration Committee (NRC). The development was disclosed to the stock exchanges on May 08, 2026.

Appointment Details

Alongside his designation as CEO and KMP, Mr. Srinivasan Karthik (DIN: 02449770) has also been appointed as an Additional Director of RFL, designated as Managing Director & CEO. This additional appointment is subject to prior approval from the Reserve Bank of India (RBI) and RFL's shareholders, with the Managing Director role taking effect only upon receipt of RBI approval. The key details of the appointment are summarised below:

Professional Profile

Mr. Srinivasan Karthik brings over 30 years of experience across financial services, consumer and asset financing, and the BPO/ITES industry, along with early entrepreneurial experience. He joins RFL from HDB Financial Services, where he spent a decade building the Consumer Finance and Asset Finance portfolios across multiple products, including Consumer Loans, Two-Wheeler and Auto Loans, Commercial Vehicle and Tractor Loans, growing them at significant scale. He also led the company's digital transformation agenda in recent years.

Prior to HDB Financial Services, Mr. Srinivasan Karthik led large global teams as an operating leader at Intelenet Global Services and SERCO, working with major banking and financial services clients across India, UK, US, and beyond. Earlier in his career, he co-founded entrepreneurial ventures in education and technology. His academic credentials include a B. Tech. degree in Electrical Engineering from IIT Delhi and a PGDM in Accounting and Finance from IIM Bangalore.

Key Highlights

• Appointment as CEO and KMP of RFL effective May 05, 2026
• Additional Director role (designated Managing Director & CEO) subject to RBI and shareholder approval
• 30+ years of experience in financial services, consumer and asset financing, and BPO/ITES
• Previous role: HDB Financial Services — built Consumer Finance and Asset Finance portfolios and led digital transformation
• Earlier experience: Operating leader at Intelenet Global Services and SERCO across India, UK, US, and beyond
• Education: B. Tech. (Electrical Engineering) from IIT Delhi; PGDM (Accounting and Finance) from IIM Bangalore

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations and was communicated to the exchanges by Anuj Jain, Company Secretary & Compliance Officer of Religare Enterprises Limited.

Religare Enterprises Limited has announced that its step-down subsidiary, Religare Housing Development Finance Corporation Limited (RHDFCL), has appointed Mr. Pankaj Rathi as Additional Director and Whole-Time Director, designated as Executive Director and Chief Financial Officer (CFO), effective April 06, 2026. The appointment was approved by the Board of Directors of RHDFCL at its meeting held on March 30, 2026, following the recommendation of the Nomination & Remuneration Committee (NRC) of RHDFCL. This appointment is in addition to Mr. Rathi's existing role as Chief Financial Officer of RHDFCL. His appointment as Whole-Time Director remains subject to the approval of shareholders of RHDFCL.

Appointment Details

The key details of Mr. Pankaj Rathi's appointment are summarised below:

Profile of Mr. Pankaj Rathi

Mr. Pankaj Rathi is a qualified Chartered Accountant with experience of more than 15 years in Banking and Financial Services. His areas of expertise span Financial Reporting, Fund Raising (Equity & Debt), Mergers & Acquisitions (M&A), Balance Sheet & Treasury Management, Regulatory and Corporate Compliances, Business Strategy, Budgeting, and Taxation.

Prior to this appointment, Mr. Rathi served as Chief Financial Officer at Grihum Housing Finance Ltd, where he spearheaded two major M&A transactions. During his tenure at Grihum, he raised over $1.3 Bn in five years across diverse instruments and orchestrated a credit rating migration strategy through institutional identities, achieving an uplift from AA- to AAA. He also led the digitization of finance and compliance platforms, resulting in reduced turnaround time.

His previous professional assignments included roles at Xander Finance Ltd, JM Financial Products Ltd, EY, and PwC.

Regulatory Disclosure

The disclosure was made by Religare Enterprises Limited to the National Stock Exchange of India Ltd and BSE Limited on May 08, 2026, in compliance with Regulation 30. The communication was signed by Anuj Jain, Company Secretary & Compliance Officer of Religare Enterprises Limited.