Nuvama Wealth Management received an administrative warning from the Securities and Exchange Board of India (SEBI) on July 17, 2026, regarding observations made during an inspection of public issues handled by the company as a merchant banker. The regulator advised the firm to be careful in the future and avoid recurrence of the observations. The company confirmed that this development has no impact on its financials, operations, or other activities of its subsidiaries or associates.

The administrative warning follows an inspection by SEBI concerning the public issues managed by Nuvama Wealth Management. The observations specifically pertain to the need for strengthening documentation and further improving the processes involved in its merchant banking operations. SEBI's communication directs the company to address these procedural aspects to ensure compliance and better oversight in future transactions.

Key Details of the Regulatory Communication

The disclosure was made to the stock exchanges in compliance with Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company submitted the specific details of the warning as an annexure to its filing.

The company, through its Company Secretary and Compliance Officer Sneha Patwardhan, confirmed that the necessary details have been submitted to the exchanges for record. The filing emphasizes that the warning is advisory in nature regarding operational processes rather than a punitive financial measure.

Nuvama Wealth Management has commenced the remote e-voting process to seek shareholder approval for special resolutions via postal ballot. The voting facility is available from July 3, 2026, at 9:00 a.m. until August 1, 2026, at 5:00 p.m. Members recorded in the Register of Members or the list of Beneficial Owners as of the cut-off date, June 25, 2026, are eligible to vote on the specified business.

The company dispatched the notice of postal ballot on July 1, 2026, through electronic mode to members with registered email addresses. Physical copies of the notice and postal ballot forms have not been dispatched; communication of assent or dissent will occur exclusively through the remote e-voting system. The results of the postal ballot will be declared by the Chairperson or an authorized person and displayed on the company's website and the stock exchanges.

Key Voting Details

The Board of Directors has appointed CS Nilesh Shah, or alternatively CS Mahesh Darji or CS Hetal Shah of M/s. Nilesh Shah and Associates, as the Scrutinizer to oversee the postal ballot remote e-voting process. Once a vote is cast, members cannot change their vote or cast it again. The proposed special resolutions, if approved, will be considered passed on the last date of remote e-voting by the requisite majority.