Industrial investment trust Limited has announced the resignation of its Chief Executive Officer-NBFC Operations, marking a significant leadership change in the company's non-banking financial services division. The resignation was formally communicated to stock exchanges on February 24, 2026, in compliance with regulatory disclosure requirements.

Executive Departure Details

Mr. Sameer Gaikwad, who served as Chief Executive Officer-NBFC Operations and Key Managerial Personnel, submitted his resignation letter on February 24, 2026, citing personal reasons for his departure. The company management has accepted his resignation, with the effective date set for April 23, 2026.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all required details as mandated under the listing regulations and SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Mr. Gaikwad has confirmed in his resignation letter that there are no material reasons for his departure other than the personal reasons mentioned. The resignation letter was addressed to Dr. B Samal, Chairman of Industrial Investment Trust Limited, and was formally accepted by the company on February 24, 2026.

Company Response

The disclosure was signed by Cumi Banerjee, CEO (Secretarial, Legal and Admin) & Company Secretary, on behalf of Industrial Investment Trust Limited. The company has requested stock exchanges to take note of this leadership change and has assured compliance with all applicable regulatory requirements.

The transition period extends until April 23, 2026, providing the company with approximately two months to manage the handover process and ensure continuity in NBFC operations.

Nimbus India Limited has announced another strategic acquisition, purchasing an additional 50,000 equity shares of Industrial Investment Trust Limited (IITL) on February 12, 2026. This follows the company's previous acquisitions, demonstrating continued investment in the target company.

Latest Acquisition Details

The recent share purchase was executed through open market transactions on February 12, 2026. The company filed the mandatory disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeover) Regulations, 2011, with both BSE and NSE on February 13, 2026.

Updated Shareholding Pattern

Following this latest acquisition, Nimbus India's individual shareholding in IITL has increased from 19.80% to 20.06% of the total voting capital. The company's holding in terms of diluted share capital has risen from 17.22% to 17.44%.

Persons Acting in Concert

Nimbus India operates alongside several persons acting in concert (PACs), including N. N. Financial Services Private Limited, Mr. Bipin Agarwal, and Mr. Swarn Mohinder Singh. The combined holding of the acquirer group has increased from 56.21% to 56.47% of the total voting capital.

Target Company Information

Industrial Investment Trust Limited is listed on both the Bombay Stock Exchange Limited and National Stock Exchange of India Limited. The company's equity share capital consists of 1,96,08,780 equity shares of Rs. 10/- each, aggregating to Rs. 19,60,87,800/-. The total diluted share capital stands at 2,25,47,550 equity shares aggregating to Rs. 22,54,75,500/-.

Regulatory Compliance

The disclosure was signed by Lalit Agarwal, Director of Nimbus India Limited (DIN: 00003903), and submitted to the stock exchanges and IITL's compliance officer as required under SEBI regulations. Nimbus India belongs to the promoter group of Industrial Investment Trust Limited, making these acquisitions part of the promoter group's strategic investment in the target company.