VLS Finance Issues Corrigendum to Buyback Letter of Offer with Revised Ratios

VLS Finance Limited has made significant announcements regarding its share buyback program, including recent regulatory filings and a corrigendum to correct certain details in the Letter of Offer.

Share Buyback Program

The board of VLS Finance has approved a share buyback program with the following details:

Buyback Detail:	Value
Maximum shares to be bought back:	26.31 lakh equity shares
Buyback price per share:	₹380.00
Maximum buyback amount:	₹100.00 crores
Percentage of paid-up capital:	7.71%
Record date:	December 12, 2025

This move may be aimed at rewarding shareholders and potentially improving the company's earnings per share.

Corrigendum to Letter of Offer

VLS Finance Limited has submitted a corrigendum to the Letter of Offer for the buyback of equity shares. The corrigendum, submitted on December 20, 2025, corrects certain calculations and ratios without changing the fundamental terms or timelines of the offer:

Corrected Buyback Ratios:	Details
Reserved category (Small Shareholders):	39 shares out of every 415 shares held
General category (Other Eligible Shareholders):	23 shares out of every 248 shares held
Actual entitlement - Small Shareholders:	9.40%
Actual entitlement - General category:	9.27%

The company clarified that these ratios are approximate and provide indicative buyback entitlements, with actual computations potentially varying slightly due to rounding off.

Corrigendum Publication and Regulatory Compliance

The corrigendum has been published in newspapers as per regulatory requirements under SEBI Buy-back Regulations:

Publication Details:	Information
Newspapers:	Financial Express (English), Jansatta (Hindi)
Publication date:	December 21, 2025
Corrigendum release date:	December 21, 2025
Letter of Offer date:	December 16, 2025
Merchant banker:	NewBerry Capitals Private Limited
SEBI compliance:	Buy-back of Securities Regulations, 2018

Shareholding Details and Categories

The corrigendum provides updated information about shareholder categories:

Shareholder Category:	Details
Small Shareholders count:	25,498 shareholders
Small Shareholders' total holding:	42.00 lakh equity shares
Percentage of outstanding shares:	12.35%
Reserved shares for Small Shareholders:	3.95 lakh equity shares
General category allocation:	22.37 lakh equity shares
Promoter group participation:	VLS Capital Limited up to 1.00 lakh shares

Previous Timeline Correction

Earlier, VLS Finance Limited had issued a correction letter to stock exchanges regarding an error in its buyback schedule:

Timeline Detail:	Corrected Information
Original incorrect date:	Thursday, January 1, 2025
Corrected payment date:	Thursday, January 1, 2026
Letter submission date:	December 17, 2025
Exchanges notified:	BSE, NSE, Calcutta Stock Exchange

Board Changes

In addition to the buyback program, VLS Finance has made changes to its board composition with the appointment of Gaurav Goel as Additional Non-Executive Independent Director, subject to postal ballot approval by members.

Implications for Shareholders

Eligible shareholders as of the record date may participate in the buyback program according to the corrected ratios. The corrigendum ensures accurate information dissemination while maintaining all other terms of the original offer. Shareholders should note the corrected payment timeline and refer to the company's website for complete documentation.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.01%	+2.64%	-3.36%	+22.77%	-12.48%	+340.90%

VLS Finance Limited , a prominent player in the financial services sector, has announced a significant change in its board composition. Gaurav Goel, who has been serving as a Non-Executive, Non-Independent Director, has tendered his resignation effective November 21, 2025. This move is part of a strategic transition within the company's leadership structure.

Resignation Details

The company disclosed the following information regarding Mr. Goel's resignation:

Aspect	Details
Director Name	Gaurav Goel
DIN	00076111
Previous Position	Non-Executive, Non-Independent Director
Effective Date of Resignation	November 21, 2025
Reason for Resignation	To facilitate proposed appointment as Non-Executive, Independent Director

Transition to Independent Director Role

Mr. Goel's resignation is not a departure from the company but rather a strategic move to change his role within the organization. The resignation is aimed at facilitating his proposed reappointment as a Non-Executive, Independent Director. This transition is subject to the following conditions:

Approval by the Board of Directors
Shareholder approval
Compliance with applicable regulations, including:
- Companies Act, 2013
- SEBI (LODR) Regulations, 2015

Implications of the Transition

The shift from a Non-Independent to an Independent Director role is significant for several reasons:

Enhanced Corporate Governance: Independent directors play a crucial role in ensuring objective decision-making and protecting the interests of all stakeholders.
Regulatory Compliance: The move aligns with regulatory requirements for board composition, particularly regarding the ratio of independent to non-independent directors.
Fresh Perspective: As an Independent Director, Mr. Goel may bring a new level of objectivity to board discussions and decisions.

Next Steps

While Mr. Goel's resignation is effective immediately, his proposed appointment as an Independent Director will need to go through the necessary approval processes. Shareholders and market observers will likely be watching closely for announcements regarding:

The board's decision on the proposed appointment
The scheduling of a shareholder vote, if required
Any changes to board committee compositions that may result from this transition

VLS Finance Limited has not provided additional details about potential changes to the board structure or any impact on the company's operations. As this corporate action unfolds, it will be important to monitor how it influences the company's governance practices and strategic direction.