Star Housing Finance Limited is engaging with a potential investor interested in acquiring a majority stake through the purchase of shares held by promoters and the single largest shareholder. This move facilitates a complete exit for existing promoters.

The update, dated August 27, 2026, follows an earlier intimation on August 13 regarding a Letter of Intent executed with Cateye Consultancy Services Private Limited. The potential investor has also proposed infusing funds through the primary route to strengthen the company’s balance sheet, subject to requisite approvals.

Governance Changes

Pursuant to recommendations from the potential investor, two Independent Directors have already been appointed to the Board. The process of further strengthening the Board, including the induction of Executive Directors, will continue in due course, subject to necessary approvals.

Strategic Objective

These measures aim to result in new ownership and a complete transition of the existing promoters and the current single largest shareholder. The company stated these steps are being undertaken to safeguard stakeholder value and ensure the revival of the company.

The announcement was signed by Nachiketa Purohit, Company Secretary & Compliance Officer.

Star Housing Finance has initiated a postal ballot process to seek shareholder approval for three key board appointments. The company’s Company Secretary, Nachiketa Purohit, confirmed on August 17, 2026, that the published copy of the notice was submitted to BSE Limited, following newspaper advertisements in Financial Express and Pratahkal on August 15, 2026.

The postal ballot seeks to amend the composition of the board through electronic voting. Shareholders holding shares as of the cut-off date, August 7, 2026, are eligible to vote. The voting window opened on the cut-off date and closed at 5:00 pm on August 15, 2026.

Proposed Resolutions

The ballot covers three distinct resolutions regarding director appointments:

• Nominee Director: Appointment of Yogesh Limbachiya (DIN: 11709935) as a nominee director via an ordinary resolution.
• Independent Directors: Appointment of Shewta Mehta (DIN: 01263063) and Abhaykumar J. Pal (DIN: 11820566) as independent directors via special resolutions.

Voting Mechanism

In compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company facilitated remote e-voting. Physical copies of the postal ballot notice were sent to shareholders without registered email addresses, while digital notices were dispatched to those with registered emails.

The voting rights were reckoned based on the paid-up value of equity shares held by members as of the cut-off date. The company emphasized that only individuals appearing in the Register of Members or Register of Beneficial Owners on August 7, 2026, were entitled to cast their votes.