Fusion Finance Submits Formal Application for Promoter Reclassification to Stock Exchanges

2 min read Updated on 02 Mar 2026, 08:30 PM

Reviewed by

Shriram SScanX News Team

AI Summary

Fusion Finance Limited has formally submitted its reclassification application to NSE and BSE on March 2, 2026, seeking approval to reclassify Mr. Devesh Sachdev and family from promoter to public category. The application follows systematic regulatory notifications throughout February 2026 and represents a significant milestone in the governance transition that began with leadership changes in 2025.

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Fusion Finance Limited has formally submitted its application to the National Stock Exchange of India Limited (NSE) and BSE Limited on March 2, 2026, seeking approval for the reclassification of Mr. Devesh Sachdev and his family members from the "Promoter & Promoter Group" category to the "Public" shareholder category. The company disclosed this regulatory milestone through Letter No. FFL/SEC/2025-26/SE-130, marking a significant step forward in the reclassification process initiated in February 2026.

Application Submission Details

The formal application submission represents the culmination of preliminary notifications sent to stock exchanges throughout February 2026. The company has submitted all requisite documents to both exchanges in compliance with Regulation 31A(3) of SEBI (LODR) Regulations, 2015.

Parameter	Details
Application Date	March 2, 2026
Stock Exchanges	NSE and BSE Limited
Regulation	31A(3) of SEBI LODR Regulations
Letter Reference	FFL/SEC/2025-26/SE-130
NSE Symbol	FUSION
BSE Scrip Codes	543652, 977381, 977412

Leadership Transition Timeline

The reclassification request follows a comprehensive governance transition that unfolded over several months in 2025. The structured leadership changes created the foundation for this shareholding category modification.

Event	Date	Details
Managing Director Resignation	30 September 2025	Mr. Sachdev stepped down from executive role
Board Resignation	4 November 2025	Complete withdrawal from Board of Directors
Articles Amendment	January 2026	Shareholders approved removal of special rights
Initial Notification	21 February 2026	Stock exchanges formally notified
Application Submission	2 March 2026	Formal application with requisite documents

Regulatory Compliance Process

Fusion Finance has now completed the initial application phase of the reclassification process. The company referenced previous intimation letters dated February 21, 2026, February 23, 2026, and February 27, 2026, demonstrating systematic regulatory communication throughout the process.

The remaining approval pathway includes:

Stock exchange review and no-objection/approval
Board of Directors formal approval
Shareholders' approval in compliance with Regulation 31A of SEBI LODR Regulations

Promoter Structure Impact

While Mr. Sachdev and his family seek reclassification to public category, the company's promoter structure will remain intact through other entities. The continuing promoter entities will maintain majority shareholding in Fusion Finance Limited.

Entity Category	Status
Honey Rose Investments Ltd	Continuing as promoter
Creation Investments Fusion LLC	Continuing as promoter
Creation Investments Fusion II LLC	Continuing as promoter
Mr. Devesh Sachdev & Family	Proposed reclassification to public

Next Steps and Compliance

Fusion Finance Limited, formerly known as Fusion Micro Finance Limited, has indicated that further steps regarding the reclassification will be undertaken in due course in compliance with SEBI LODR Regulations. The application and supporting documentation are available on the company's website at www.fusionfin.com . Company Secretary & Compliance Officer Vikrant Sadana signed the formal communication from Gurugram, emphasizing the company's commitment to transparent regulatory compliance throughout this governance transition process.