IndoStar Capital Finance Limited has announced a key senior management appointment, naming Mr. Amandeep Singh Sandhu as Chief Operating Officer - Vehicle Finance, effective December 15, 2025. The company disclosed this appointment under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The appointment details are outlined in the following table:

Professional Background

Mr. Sandhu brings extensive experience to his new role, with a 25-year career in the Banking, Financial Services, and Insurance (BFSI) sector. His professional credentials include managing portfolios exceeding ₹22,000.00 crores and leading teams of 1,200 employees across multiple zones.

Key Expertise Areas

Sandhu's expertise spans several critical areas of financial services:

• Revenue growth management and P&L ownership
• Receivables management and collection strategies
• Market-aligned product development and launch
• High-performing team building and leadership
• Industry-leading delinquency reduction initiatives
• OEM dealer partnership strengthening

His track record demonstrates consistent achievement in surpassing sales and collection targets while executing transformational business strategies.

Career History

Prior to joining IndoStar Capital Finance Limited, Mr. Sandhu served as Executive Vice President at Cholamandalam Investment and Finance Company Ltd. His career journey also includes positions at several prominent financial institutions:

• HDFC Bank Ltd
• The Tractor Station
• Mahindra Financial Services Limited

Regulatory Compliance

The appointment was formally communicated to both the National Stock Exchange of India Limited and BSE Limited, ensuring compliance with listing regulations. The company has fulfilled its disclosure obligations under Regulation 30 read with Schedule III of the Listing Regulations, as amended, along with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

IndoStar Capital Finance Limited has completed a significant warrant conversion exercise, allotting 1.39 crore new equity shares to BCPV Multiple Holdings Pte Ltd. This latest development follows the company's ongoing capital strengthening initiatives and represents a substantial boost to its equity base.

Latest Warrant Conversion Details

The company's Board of Directors approved the allotment through a circular resolution passed on December 20, 2025. The conversion involved BCPV Multiple Holdings Pte Ltd., a promoter entity, exercising their rights to convert warrants into equity shares.

Impact on Share Capital Structure

The warrant conversion has resulted in a significant expansion of IndoStar's equity base. The company's paid-up equity share capital has increased substantially following this allotment.

Warrant Conversion Process

The warrants were originally allotted on November 26, 2024, carrying the right to subscribe to one equity share per warrant. The conversion process involved a two-stage payment mechanism where 80.00% of the issue price was paid during warrant allotment and the remaining 20.00% was paid during conversion.

Financial Implications

This warrant conversion brings several positive developments for IndoStar Capital Finance:

Capital Strengthening: The infusion of Rs. 256.67 crores significantly bolsters the company's equity base, enhancing its financial flexibility and lending capacity as a non-banking financial company.

Promoter Commitment: The conversion by BCPV Multiple Holdings Pte Ltd., a promoter entity, demonstrates strong confidence in the company's long-term prospects and strategic direction.

Regulatory Compliance: The newly allotted equity shares will rank pari-passu with existing shares and will be listed on BSE Limited and National Stock Exchange of India Limited upon receipt of listing approval.

Market Position

With the completion of this warrant conversion, IndoStar Capital Finance has successfully expanded its equity base while maintaining promoter participation. The company continues to strengthen its position in the financial services sector through strategic capital initiatives that support its growth objectives and regulatory requirements.