Baid Finserv Limited has received penalty notices from both major Indian stock exchanges for regulatory non-compliance, according to a disclosure filed on December 16, 2025. The company informed investors about fines imposed by BSE Limited and National Stock Exchange of India Ltd. for violations of listing regulations.

Penalty Details and Regulatory Action

The regulatory communication reveals that both exchanges imposed identical penalties on the company for non-compliance with specific listing requirements.

Nature of Non-Compliance

The penalty notices specifically cite non-compliance with Regulation 29 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company received email communications from both exchanges regarding the payment of fines for this regulatory breach.

Financial and Operational Impact

Baid Finserv Limited has assessed the implications of these penalties on its business operations. The company's disclosure indicates that while there are financial implications up to the penalty amount levied by both exchanges, the fines do not materially impact the company's financial, operational, or other business activities.

Regulatory Compliance Framework

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations, demonstrating the company's commitment to transparency in regulatory matters. The communication includes detailed annexures providing comprehensive information as required under various SEBI circulars and master circulars, including:

• SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated February 25, 2025
• SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024

Corporate Governance and Disclosure

The regulatory filing was signed by Surbhi Rawat, Company Secretary and Compliance Officer (Membership No. A49694), ensuring proper corporate governance protocols were followed. The company has requested both stock exchanges to take the disclosed information on record, maintaining transparency with all stakeholders regarding the regulatory action.

Baid Finserv Limited , a financial services company, has successfully completed its rights issue, raising ₹30.02 crores through the allotment of 3,00,17,075 equity shares at ₹10.00 per share. The rights issue, which opened on November 25, 2025, and closed on December 03, 2025, was oversubscribed by 1.07 times, reflecting strong investor confidence in the company's growth prospects.

Rights Issue Performance and Structure

The issue was structured as a 1:4 rights offering at ₹10.00 per share, including a premium of ₹8.00 per share. Eligible equity shareholders could subscribe to approximately 1 equity share for every 4 shares held as on the record date.

Impact on Share Capital and Shareholding Pattern

Following the allotment approved by the Rights Issue Committee on December 08, 2025, the company's paid-up share capital increased significantly. The total number of shares rose from 12,00,68,300 to 15,00,85,375, representing a 25% increase in outstanding shares.

Planned Use of Proceeds

The company has outlined three key areas for deploying the net proceeds from the rights issue:

1. Capital Augmentation: Strengthening the capital base and resources for meeting funding requirements for business activities including onward lending
2. Debt Repayment: Repayment and/or prepayment of certain identified borrowings from banks and financial institutions
3. General Corporate Purposes: Supporting overall business operations and strategic initiatives

Management Commentary

Aman Baid, Whole-Time Director of Baid Finserv Limited, expressed gratitude for the overwhelming shareholder support, stating that the trust demonstrated by shareholders inspires the company to continue strengthening its position in the financial services sector. He emphasized that the raised capital will enhance the balance sheet and enable investments in key growth areas such as expanding the lending portfolio and achieving long-term strategic goals.

Company Profile and Market Position

Established in 1991, Baid Finserv operates as a Non Deposit Taking Base Layer NBFC, providing auto loans, commercial vehicle loans, MSME loans, and loans against property. The company focuses on serving underserved semi-urban and rural areas in Rajasthan and has recently expanded operations into Madhya Pradesh, Gujarat, and Maharashtra. The strong participation from promoters, high-net-worth individuals, and retail investors underscores the company's resilient fundamentals and growing role in the NBFC sector.