SBI Funds Management Limited appointed Dhruva Agarwal as Head of Alternates and Senior Management Personnel with effect from October 7, 2026. The appointment was approved by the Board of Directors through a circular resolution passed at 6:55 pm IST on the same date.

Appointment details

The appointment follows the recommendation of the Nomination and Remuneration Committee. It is made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was submitted to both the National Stock Exchange of India Limited and BSE Limited on October 7, 2026.

Agarwal is identified as a full-time employee of the company. His role involves leading the alternatives division, focusing on private capital investing and alternative asset strategies.

Professional background

Agarwal brings over 20 years of experience in private capital investing, fund raising, alternative asset strategy, and portfolio management. His career spans leading global institutions where he has led investment functions, driven strategic partnerships, executed India entry strategies, and managed diversified portfolios with strong governance and risk discipline.

Prior to joining SBI Funds Management, Agarwal served as Managing Director and Portfolio Manager at DWS Asset Management in Singapore. In that role, he led private capital investments across India, South-East Asia, and the Middle East.

Previous associations

Before his tenure at DWS Asset Management, Agarwal gained extensive experience with several reputed organizations:

• BlackRock Inc.: Asia Pacific Alternative Private Credit
• Baring Private Equity Asia: Credit Fund (formerly Religare Credit Advisors)
• Barclays PLC: UK and India operations
• Edelweiss Financial Services Ltd: India
• Infosys Technologies: APAC Region

Regulatory compliance

The company disclosed that this intimation is available on its website in compliance with Regulation 46 of the SEBI Listing Regulations. The details regarding the appointment, including the reason for change and brief profile, were enclosed as Annexure I to the exchange filing.

SBI Funds Management Limited appointed Amol Joshi as its new Chief Financial Officer and Key Managerial Personnel (KMP), effective October 1, 2026. This appointment follows the retirement of Inderjeet Ghuliani, who stepped down upon reaching the age of superannuation.

The decision was taken at a Board meeting held on September 29, 2026, based on recommendations from the Nomination and Remuneration Committee and the Audit Committee. The transition ensures continuity in the company’s financial leadership as it operates within the regulatory framework of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Leadership Transition Details

Inderjeet Ghuliani’s cessation from the role was due to superannuation, with his tenure ending at the close of business hours on September 30, 2026. His departure marks the end of his term as KMP, necessitating the immediate appointment of a successor to maintain compliance with SEBI regulations regarding key managerial personnel disclosures.

Amol Joshi joins with approximately 32 years of professional experience. His background includes leading finance functions with a focus on governance, regulatory compliance, and financial discipline in listed entities. Prior to this role, he served as the CFO of TransUnion CIBIL Limited. His career also encompasses significant tenures at organizations such as IndoStar Capital Finance, L&T Financial Services, Standard Chartered Bank, American Express Bank, and Oracle Financial Services.

Revised Key Managerial Personnel List

Effective October 1, 2026, the following individuals are authorized to determine materiality of events and make disclosures to stock exchanges:

What the Numbers Show

The filing highlights a routine succession plan driven by age-based retirement rather than performance or strategic restructuring. The inclusion of Amol Joshi, with 32 years of experience and prior CFO roles at major financial institutions like TransUnion CIBIL and Standard Chartered Bank, signals a preference for deep sector-specific expertise in banking and financial services compliance. This aligns with the stringent regulatory environment governing Asset Management Companies (AMCs) in India.