Avasara Finance Limited has announced a significant change in its board composition with the appointment of Mr. Venkatraman Venkitachalam as Additional Non-Executive Non-Independent Director. The appointment, effective January 30, 2026, was disclosed to BSE Limited in compliance with regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Appointment Details

The company has provided comprehensive information regarding the new director's appointment as mandated by regulatory guidelines:

Professional Background and Expertise

Mr. Venkitachalam brings extensive qualifications and experience to the board. He is a qualified Chartered Accountant, Cost Accountant, and Company Secretary. Additionally, he has passed the Level III examination of the Chartered Financial Analyst examination conducted by CFA Institute, USA. His academic achievements include qualifying for the Indian Civil Services examination in 2001 with an All India rank of 250.

The new director possesses over 20 years of holistic work experience across multiple domains:

• Business Strategy & Development
• Project Financing
• Mergers & Acquisitions
• Accounting operations
• Four years of government experience

Corporate Experience

Mr. Venkitachalam has worked across several marquee companies throughout his career. He served as Chief Financial Officer of Jupiter Capital Private Limited and currently holds the position of Executive Director. His professional journey includes associations with prominent organizations such as Reliance ADA Group, ICRA Management Consulting Services, Maytas, GMR, L&T Infrastructure Finance, Embassy Group, and Hindusthan Infrastructure Projects and Engineering Private Limited.

Regulatory Compliance

The appointment fulfills all regulatory requirements under SEBI guidelines. The company has confirmed that Mr. Venkitachalam is not debarred from holding the office of director by virtue of any SEBI order or other regulatory authority. He currently holds no directorships in other listed entities and has no shareholding in Avasara Finance Limited as a beneficial owner.

Documentation and Formalities

The appointment process has been completed with proper documentation, including the submission of Form DIR-2 (Consent to act as a director) as required under section 152(5) of the Companies Act and rule 8 of Companies (Appointment and Qualification of Directors) Rules, 2014. Company Secretary & Compliance Officer Khandavalli Madhavi (Membership No 6844) has overseen the regulatory compliance aspects of this appointment.

Avasara Finance Limited has successfully completed the allotment of equity shares under its rights issue, as announced following the Board of Directors meeting held on January 21, 2026. The company finalized the allotment process in consultation with Purva Sharegistry (I) Pvt. Ltd., the registrar for the rights issue, and the Bombay Stock Exchange as the designated stock exchange.

Rights Issue Performance

The rights issue demonstrated strong investor confidence, achieving a subscription rate of 187.22% of the issue size. The company received overwhelming response from eligible shareholders, reflecting positive market sentiment towards the financing initiative.

The Board approved the allotment of 1.00 crore fully paid-up equity shares with a face value of ₹10.00 each, priced at ₹10.00 per rights equity share to eligible equity applicants and shareholders.

Capital Structure Enhancement

The rights issue has significantly strengthened Avasara Finance Limited's capital base, with the paid-up equity share capital witnessing substantial expansion following the allotment.

The company's equity base has expanded three-fold from 50.01 lakhs shares to 1.50 crore shares, providing enhanced financial flexibility for future business operations and growth initiatives.

Corporate Governance

The Board meeting, which commenced at 7:00 PM and concluded at 7:30 PM on January 21, 2026, was conducted in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Khandavalli Madhavi (FCS No. 6844) signed the regulatory filing, ensuring adherence to corporate governance standards.

The successful completion of this rights issue positions Avasara Finance Limited with strengthened capital resources, enabling the company to pursue its strategic objectives while maintaining regulatory compliance and transparency with stakeholders.