Star Housing Finance Limited (STARHFL) has announced the appointment of Mr. Nachiketa Purohit as its new Company Secretary, Compliance Officer, and Key Managerial Personnel (KMP). The appointment, effective from September 16, 2025, was approved by the company's Board of Directors on September 13, 2025, following a recommendation from the Nomination & Remuneration Committee.

Appointment Details

Mr. Purohit, a qualified Company Secretary with ICSI membership number ACS 25011, brings over 15 years of experience to his new role. His appointment aligns with Regulation 6 of the SEBI Listing Regulations and Section 203 of the Companies Act, 2013.

Professional Background

Nachiketa Purohit's extensive experience spans corporate governance, secretarial functions, and regulatory compliance, with a primary focus on the financial services sector. His qualifications include:

• Associate Company Secretary (ACS) from the Institute of Company Secretaries of India (ICSI)
• Post Graduate Diploma in Business Management (PGDBM)
• Bachelor of Commerce (B.Com)

Key Expertise

Mr. Purohit's professional expertise includes:

• End-to-end listing and compliance work for equity and debt issuances
• Management of NHB/RBI inspection readiness for Housing Finance Companies (HFCs)
• Oversight of SEBI and stock exchange filings
• Handling of high-visibility regulatory matters, including SEBI-related proceedings
• Implementation of governance best practices such as Structured Digital Database (PIT/SDD), e-AGMs, and e-voting

Corporate Governance Impact

The appointment of Mr. Purohit is expected to strengthen Star Housing Finance's corporate governance framework. His extensive experience in the financial services sector, particularly with NBFCs and HFCs, positions him well to navigate the complex regulatory landscape faced by the company.

Board Meeting Details

The Board of Directors meeting that approved this appointment was held on September 13, 2025. The meeting commenced at 3:00 PM and concluded at 3:25 PM, as disclosed in the company's regulatory filing.

This strategic appointment underscores Star Housing Finance Limited's commitment to maintaining robust corporate governance practices and ensuring compliance with regulatory requirements in the dynamic financial services sector.

Star Housing Finance Limited (STARHFL) has announced a significant move to bolster its financial position through a rights issue of equity shares. The company's board of directors has given the green light to raise funds up to Rs. 99.00 crores, marking a notable development for existing shareholders and potential investors alike.

Rights Issue Details

The board has approved the issuance of fully paid-up equity shares with a face value of Rs. 5.00 each. This rights issue will be offered to eligible equity shareholders, with the record date for determining eligibility yet to be announced. The total fund-raising target is set at an amount not exceeding Rs. 99.00 crores (Rs. 99,00,00,000).

Key Approvals and Committee Formation

In addition to approving the rights issue, the board has taken several other important steps:

1. Approved the draft letter of offer for the rights issue.
2. Constituted a Rights Issue Committee to oversee the process.

The newly formed Rights Issue Committee comprises:

Pending Determinations

Several crucial aspects of the rights issue remain to be finalized, including:

• Issue price
• Rights entitlement ratio
• Record date
• Timing of the issue

These details will be determined by the board and/or the Rights Issue Committee in due course, subject to necessary regulatory approvals.

Regulatory Compliance

The company has emphasized that the rights issue will be conducted in accordance with applicable laws and regulations, including:

• Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
• SEBI Listing Regulations
• Companies Act, 2013 and related rules

Investor Implications

This rights issue presents an opportunity for existing shareholders to increase their stake in Star Housing Finance Limited. However, investors should note that specific terms, including the price and entitlement ratio, are yet to be determined.

The move to raise capital through a rights issue could indicate the company's plans for expansion or strengthening its financial position. Shareholders and potential investors will likely keep a close eye on further announcements regarding the specifics of this rights issue.