V.B. Desai Financial Services Limited has issued a formal response to the BSE's surveillance department regarding recent price movements in its shares. The Category I Merchant Banker, registered with SEBI under registration number INM 000002731, addressed the exchange's inquiry dated April 08, 2026.

Company's Response to Price Movement Query

The company clarified that the observed price movements are purely market-driven phenomena connected to general market conditions. In its response dated April 09, 2026, V.B. Desai Financial Services emphasized that these fluctuations are not attributed to any specific company-related developments or undisclosed information.

Regulatory Compliance Confirmation

The merchant banker confirmed its adherence to regulatory requirements under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company specifically referenced Regulation 30, which governs the disclosure of material events and information to stock exchanges.

V.B. Desai Financial Services stated that it has been in compliance with these regulations and committed to continue informing the stock exchange of any material information as required. The company explicitly mentioned that to its knowledge, there is currently no information or event that is significant and price sensitive requiring dissemination to investors.

Management Statement

Managing Director Pradip R. Shroff, bearing DIN 00286291, signed the official response to BSE Limited's surveillance department. The communication was addressed to the Manager of the Surveillance Department at BSE's P.J. Towers location in Fort, Mumbai. The response requested BSE to acknowledge receipt and take the clarification on record.

VB Desai Financial Services Limited has submitted its quarterly compliance certificate to BSE Limited, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026.

Regulatory Compliance Submission

The company submitted the certificate on April 06, 2026, in compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The submission was made to BSE Limited's Corporate Relation Department and signed by Company Secretary Kamlesh M Gagavani.

Certificate Details

The certificate was issued by Purva Sharegistry India Private Ltd., which serves as the company's Registrar and Transfer Agent. Purva Sharegistry holds SEBI registration number INR000001112 as Category 1 Registrars to IPO & Share Transfer Agents.

Compliance Confirmation

The certificate confirms several key compliance aspects for the quarter ended March 31, 2026:

• All securities received from depository participants for dematerialisation were confirmed to depositories
• Securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received for dematerialisation were confirmed or rejected within prescribed timelines
• Security certificates were mutilated and cancelled after due verification by depository participants
• Depositories' names were substituted in the register of members as registered owners

The certificate was signed by Ms. Deepali Gaonkar, Compliance Officer at Purva Sharegistry India Private Ltd., confirming adherence to all regulatory requirements during the specified quarter.