5paisa Capital Limited has officially completed the postal ballot process for appointing Mr. Zor Gorelov as Non-Executive Independent Director, with the company submitting the scrutinizer's report to stock exchanges on December 16, 2025. The special resolution received unanimous shareholder support through the e-voting process conducted by Central Depository Services (India) Limited (CDSL).

Official Completion and Regulatory Filing

The company formally notified BSE and NSE about the successful completion of the postal ballot process under Regulation 44 of SEBI Listing Regulations. The scrutinizer's report was submitted by Company Secretary Charvi Panchmatia, confirming compliance with all regulatory requirements.

Postal Ballot Results

The voting results, certified by scrutinizer M/s. Shah Patel Associates, demonstrate complete shareholder consensus for the appointment:

Scrutinizer Certification Process

Mr. Swapneel Vinod Patel from M/s. Shah Patel Associates served as the appointed scrutinizer, ensuring fair and transparent conduct of the postal ballot process. The scrutinizer confirmed compliance with Companies Act 2013 provisions and SEBI regulations.

Director Appointment Details

Professional Background and Committee Roles

Mr. Gorelov brings over 25 years of technology industry experience, currently serving as Senior Advisor at Klaros focusing on AI strategy in banking and fintech. He previously founded Kasisto, a leading AI-powered digital assistant provider for banking, and co-founded SpeechCycle, which was acquired by Synchronoss Technologies.

Upon appointment, Mr. Gorelov will serve as a member of the Independent Directors Committee and Information Technology Committee, strengthening the company's technological governance framework. The voting results and scrutinizer's report are available on the company's website and CDSL's e-voting platform for shareholder reference.

WF Asian Reconnaissance Fund Limited has recently reduced its shareholding in 5Paisa Capital through a secondary market transaction. The fund's stake in the company has decreased from 19.91% to 17.88%, representing a 2.03% reduction.

Transaction Details

The fund sold 37,404 shares carrying voting rights in the open market. Following this transaction, WF Asian Reconnaissance Fund now holds 24,61,046 shares out of 5Paisa Capital's total paid-up equity capital of 3,12,42,338 shares.

Shareholding Changes

To provide a clear picture of the changes in shareholding, here's a breakdown of the transaction:

Regulatory Compliance

This disclosure was made in compliance with the Securities and Exchange Board of India's (SEBI) Substantial Acquisition of Shares and Takeover Regulations, 2011. These regulations require investors to disclose their shareholdings when they cross certain thresholds, ensuring transparency in the market.

Market Implications

While the reduction in stake by WF Asian Reconnaissance Fund is significant, it's important to note that the fund still maintains a substantial position in 5Paisa Capital. This move could be part of the fund's portfolio rebalancing strategy or a response to market conditions.

Investors and market watchers may want to keep an eye on any further changes in the shareholding pattern of 5Paisa Capital, as large institutional investors' actions can sometimes influence market sentiment and stock performance.

As always, it's advisable for individual investors to conduct their own research and consider multiple factors before making investment decisions based on changes in institutional holdings.