Usha Financial Services has appointed Mr. Gopal Rawat as its interim Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective July 1, 2026. The decision was approved by the Board of Directors during its meeting held on Wednesday, following recommendations from the Nomination and Remuneration Committee and the Audit Committee. This appointment is a temporary measure to ensure continuity in the company's financial leadership until a regular CFO is appointed.

Mr. Rawat, who has been serving as Senior Manager – Accounts at Usha Financial Services Limited since April 2018, brings extensive experience to the role. He holds an MBA in Finance & Operations Management, a Master of Commerce, and a Bachelor of Commerce. His career spans approximately 20 years across financial services, real estate, retail, and property management sectors.

Profile of the Interim CFO

The appointment details were disclosed to the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the interim appointment will continue until the earlier of the appointment of a regular CFO by the Board or a date determined by the Board.

Prior to his current role, Mr. Rawat held key finance and accounts positions at Sare Homes Project Services Pvt. Ltd., Aerens GS International Limited, E-city Property Management & Services Pvt. Ltd., and Pantaloon Retail (India) Limited. His expertise covers financial reporting, taxation, statutory compliance, budgeting, treasury management, and internal controls.

Usha Financial Services allotted 426 secured, redeemable, non-convertible debentures (NCDs) on June 22, 2026, aggregating to ₹4.26 crore. The NCDs, designated as Series Q, carry a fixed coupon rate of 12% per annum payable monthly and will be redeemed at par on maturity. This allotment is part of a total issue size of ₹7 crore approved by the board on May 21, 2026.

The instruments have a tenure of four years, with the date of allotment recorded as June 22, 2026, and the maturity date set for June 21, 2030. The NCDs are secured by a first and exclusive charge on identified receivables, created by way of hypothecation in favour of the debenture trustee for the benefit of the debenture holders. The issuance was conducted on a private placement basis and the securities are not proposed to be listed on any stock exchange.

The board meeting to approve the allotment commenced at 12:00 P.M. and concluded at 12:30 P.M. on June 22, 2026. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Allotment