VLS Finance Limited has successfully completed its comprehensive share buyback program and finalized the extinguishment of 26,31,578 equity shares on January 13, 2026, marking the complete conclusion of the company's ₹100.00 crore capital restructuring initiative.

Buyback Program Overview

The company executed a complete buyback of 26,31,578 equity shares at ₹380.00 per share through the tender offer method:

Strong Investor Participation

The buyback program received robust investor response with oversubscription across both categories. The registrar RCMS Share Registry Private Limited processed 5,814 valid bids for 32,15,716 equity shares, representing 1.22 times the maximum shares proposed for buyback:

Share Extinguishment Process Completed

VLS Finance completed the final regulatory step by extinguishing all bought-back shares on January 13, 2026, in compliance with Regulation 24 of SEBI Buy-Back Regulations 2018. The extinguishment process was certified by multiple parties including the company, RCMS Share Registry Private Limited, and A Aggarwal & Associates Company Secretaries:

Final Capital Structure Impact

The extinguishment process has finalized the company's capital structure changes, with the paid-up equity share capital officially reduced:

Enhanced Shareholding Pattern

The post-extinguishment shareholding pattern shows increased promoter holding percentage due to the reduction in total share count:

Regulatory Compliance and Documentation

The company has fulfilled all regulatory requirements with comprehensive documentation. National Securities Depository Limited confirmed the debit of 26,31,578 equity shares from the NSDL system on January 13, 2026. The extinguishment certificate was signed by Managing Director S.K. Aggarwal, Director-Finance & CFO K.K. Soni, along with representatives from RCMS Share Registry Private Limited and A Aggarwal & Associates Company Secretaries.

With the successful completion of the extinguishment process, VLS Finance has concluded its ₹100.00 crore buyback program, effectively returning capital to shareholders while enhancing the ownership percentage of continuing shareholders. The company has notified BSE Limited, National Stock Exchange of India Limited, and Calcutta Stock Exchange Association Limited of the completion.

VLS Finance Limited has issued a comprehensive postal ballot notice to shareholders, seeking approval for the appointment of Gaurav Goel as Independent Director and revisions in executive remuneration. The e-voting process will commence on December 31, 2025, and conclude on January 29, 2026.

Gaurav Goel's Transition to Independent Director

Following his resignation as Non-Executive, Non-Independent Director on November 21, 2025, Gaurav Goel has been appointed as Additional Director in the category of Independent Director effective November 22, 2025. The postal ballot seeks shareholder approval for his formal appointment as Independent Director for a five-year term ending November 21, 2030.

Executive Remuneration Revisions

The postal ballot also seeks approval for remuneration revisions for three key executives, effective from April 1, 2025:

Managing Director - Suresh Kumar Agarwal

Director-Finance & CFO - Kishan Kumar Soni

Executive Director - Keshav Tandan

Voting Process and Timeline

The company has appointed Ashutosh Aggarwal (COP: 7467) as Scrutinizer for the postal ballot process. Key dates for the voting process include:

Corporate Governance Enhancement

Gaurav Goel brings extensive experience as Vice Chairman and Managing Director of Dhampur Sugar Mills Limited, with over two decades in the sugar industry. His appointment as Independent Director is expected to enhance the company's corporate governance standards and provide objective oversight of management decisions.

The company has engaged National Securities Depository Limited (NSDL) for facilitating the e-voting process, with voting restricted to electronic means only. Shareholders are advised to register their email addresses with the company's registrar, RCMC Share Registry Private Limited, to participate in the voting process.