star housing finance has announced the adjournment of the meeting for holders of its Non-Convertible Debentures (NCDs). The meeting, initially convened on May 22, 2026, was rescheduled due to a lack of quorum and will now take place on May 29, 2026. The adjournment follows a default in the payment of interest and outstanding principal on the debentures.

Meeting Details

The adjourned meeting is scheduled for Friday, May 29, 2026, at 4:00 p.m. It will be conducted through Video Conferencing (VC) and Other Audio Visual Means (OAVM). The agenda remains unchanged from the previous notice dated April 27, 2026. The Debenture Trustee, Vardhman Trusteeship Private Limited, will host the session, and the link for the meeting will be provided separately on their website.

Default and Agenda

The payment of interest and the outstanding principal was due on May 19, 2026. The default occurred under the ISIN INE526R07017 for NCDs aggregating to INR 20,00,00,000. The meeting aims to obtain the consent of investors for the enforcement of security and for signing the Inter Creditor Agreement (ICA) pursuant to the Debenture Trust Deed dated October 18, 2023.

NCD Details

The Debenture Trustee requires instructions from holders representing not less than 75% of the outstanding debentures by value and 60% of the debenture holders by number to proceed with the enforcement of security. If requisite consents are not received, the debenture holders may decide on further course of action during the meeting.

star housing finance Limited disclosed on 08 May 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has received a letter of intent from Bassinvictus Private Limited. The letter was addressed to the lenders of the company and outlines Bassinvictus's intention to infuse funds and acquire a controlling interest in the housing finance firm.

Proposed Equity Infusion and Stake Acquisition

Bassinvictus Private Limited has expressed its intent to infuse funds amounting to ₹200 crores into Star Housing Finance in the form of equity, subject to necessary statutory and regulatory approvals, in one or more tranches. The key parameters of the proposed transaction are summarised below:

In addition to the primary equity infusion, Bassinvictus intends to acquire a majority stake and buy out the stake of the promoters and ARKFIN Investment and Advisors Limited, described as the single largest investor, through a secondary purchase, subject to all approvals being in place.

Conditions Precedent for Firm Commitment

The letter of intent is contingent upon the agreement of lenders to specific restructuring measures. Bassinvictus has stated that the letter of intent will be converted into a firm commitment document only after lenders agree to the following:

• Restructure the term loan facilities by extending the balance tenor
• Grant a moratorium on interest and principal repayments for the next six months

Upon receiving lender concurrence on these conditions, Bassinvictus Private Limited has indicated it would immediately infuse ₹25 crores into Star Housing Finance in the form of an Inter-Corporate Deposit (ICD). These funds are intended to be used primarily towards clearing pending dues of lenders and payment of statutory dues, if any.

Leadership and Board Strengthening

As part of its commitment, Bassinvictus Private Limited has stated its intention to bring in a new leadership team to rebuild a strong foundation and to strengthen the Board through the onboarding of reputed professionals from the BFSI and allied space. The company reiterated its intent to provide sustainable long-term returns to all stakeholders, subject to the concurrence of lenders and the conversion of the letter of intent into a firm commitment.

The disclosure was signed by Nachiketa Purohit, Company Secretary and Compliance Officer of Star Housing Finance Limited, on 08 May 2026.