Shalibhadra Finance Limited has announced the resignation of its Company Secretary, Ms. Darshana Chauhan, effective April 15, 2026. The company made this disclosure to stock exchanges in compliance with regulatory requirements, citing personal reasons for the resignation.

Official Resignation Communication

The company informed both BSE Limited and NSE Limited about this key managerial personnel change pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made on April 16, 2026, one day after the effective resignation date.

Resignation Letter Details

Ms. Darshana Chauhan submitted her resignation letter directly to the Board of Directors on April 15, 2026, requesting immediate effect from the same date. In her resignation letter addressed to the Board, she stated that the decision was made after due consideration owing to personal reasons. The company has received confirmation from Ms. Chauhan that there are no other material reasons for her resignation beyond those mentioned in her resignation letter.

Interim Compliance Arrangements

To ensure continuity in regulatory compliance functions, the company has made interim arrangements for the Company Secretary position. Mr. Vatsal Doshi, Managing Director (DIN: 07950770), will act as Compliance Officer until a new company secretary is appointed. This arrangement ensures that the company maintains its regulatory compliance obligations without interruption.

Corporate Information and Transition

Shalibhadra Finance Limited operates from its corporate office located at 3, Kamat Industrial Estate, 396, Veer Savarkar Marg, Opp. Siddhi Vinayak Temple, Prabhadevi, Mumbai – 400025. The company is incorporated under CIN: L65923MH1992PLC064886.

Ms. Chauhan expressed her gratitude to the Board of Directors and management for their support during her tenure and assured reasonable cooperation for facilitating a smooth transition process. The company has indicated that necessary filings with the Registrar of Companies and requisite intimations to concerned regulatory authorities will be completed as required.

Shalibhadra Finance Limited has successfully raised ₹19.50 crore through the issuance of Non-Convertible Debentures (NCDs), marking a significant milestone in the company's capital raising efforts. The fundraising was announced on 15th April 2026, demonstrating strong investor confidence in the NBFC's business model and growth prospects.

NCD Structure and Terms

The Non-Convertible Debentures offer attractive terms for investors while providing the company with structured financing. The key features of the NCD issuance include:

The monthly interest payment structure ensures regular cash flows to investors, while the six-monthly principal repayment schedule provides additional liquidity benefits. The NCDs are secured and carry a credit rating of BBB- (Stable) from ICRA, reflecting the company's creditworthiness.

Management Commentary

Commenting on this fundraising milestone, Mr. Vatsal M. Doshi, Managing Director, emphasized the strategic importance of this capital raising exercise. He stated that this fundraiser marks a key step in optimizing the company's liability profile and enhancing financial flexibility. The successful completion of the NCD issuance reflects strong investor confidence in the business model and supports efficient asset-liability management.

The proceeds from the NCD issuance will be utilized to support the company's lending operations and help optimize the overall cost of funds while driving disciplined growth and long-term value creation.

Company Profile and Operations

Shalibhadra Finance Limited operates as a retail-focused NBFC with a strong presence in rural and semi-urban areas across three key states. The company's operational footprint and business metrics highlight its established market position:

The company offers a comprehensive range of small ticket asset financing and customized retail products, including financing for new and used two-wheelers, four-wheelers, and property loans. This diversified product portfolio caters to the specific financial needs of customers in rural and semi-urban markets.

Business Model and Risk Management

Shalibhadra Finance follows a prudent, asset-backed lending model with a strong emphasis on risk management, asset quality, and sustainable growth. The company's approach is supported by robust governance frameworks and technology-enabled operations, which enhance operational efficiency and customer service delivery.

The successful NCD issuance demonstrates the company's ability to access diverse funding sources and optimize its capital structure. This fundraising initiative positions the company well for continued growth in its target markets while maintaining financial discipline and risk management standards.