TruCap Finance Limited, a prominent player in the financial services sector, announced a significant change in its leadership team. Saurabh Sethi, the company's Finance Head and a designated Senior Management Personnel, has submitted his resignation, marking the end of his tenure with the organization.

Resignation Details

According to an official communication from TruCap Finance Limited to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE), Saurabh Sethi's resignation will take effect from the close of business hours on September 30, 2025. The company's Company Secretary and Compliance Officer, Sonal Sharma, formally notified the stock exchanges about this development.

Regulatory Compliance

The announcement was made in accordance with Regulations 30 and 51, read with Part A of Schedule III of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. This ensures transparency and timely disclosure of material events to the company's stakeholders and the broader market.

Additional Information

TruCap Finance Limited provided further details as required by SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company confirmed that Sethi's departure is categorized as a resignation, and no additional information regarding the appointment of a successor was disclosed in the current notification.

Market Impact

As Finance Head, Saurabh Sethi played a crucial role in TruCap Finance's financial strategies and operations. His departure may be of interest to investors and market analysts who closely follow the company's performance and management changes.

TruCap Finance Limited will likely face questions from stakeholders about the transition plan for this key position and any potential impact on the company's financial management strategies going forward.

The company's board and management will be expected to address the succession plan for the Finance Head role in due course, ensuring a smooth transition and maintaining investor confidence in the company's financial leadership.

TruCap Finance Limited has announced the termination of significant agreements with Marwadi Chandarana Intermediaries Brokers Private Limited, marking a notable shift in the company's anticipated ownership structure and capital infusion plans.

Agreement Termination Details

The terminated agreements, originally executed on May 26, included:

1. A share purchase agreement (SPA) for the acquisition of 3,68,00,220 equity shares from the company's promoters and promoter group.
2. A securities subscription agreement (SSA) for 11,56,80,000 equity shares and 9,37,00,000 convertible warrants.

Marwadi Chandarana Intermediaries Brokers Private Limited, acting as the acquirer, communicated the termination through a letter dated September 22, which was received by TruCap Finance on September 23.

Impact on Ownership and Control

As a result of this termination, Marwadi Chandarana will no longer be able to gain control over TruCap Finance as initially planned. The acquisition would have led to their classification as part of the promoter and promoter group, significantly altering the company's ownership structure.

Financial Implications

TruCap Finance has stated that the termination does not have a material impact on the company's operations. However, it noted that the expected fund infusion from the equity shares and convertible warrants subscription will no longer occur. This development may affect the company's previously anticipated capital plans.

Parties Involved

The terminated agreements involved several parties:

• Marwadi Chandarana Intermediaries Brokers Private Limited (Acquirer)
• Mrs. Minaxi Kishore Mehta, Mr. Kishore Gangadas Mehta, Wilson Holdings Private Limited, Wilson Growth Private Limited, and Anjaneya Realty Management LLP (Sellers)
• Prolific Ventures Private Limited, Ms. Rushina Mehta, and NM Family Investment Trust (Specified Parties)
• TruCap Finance Limited (Company)

Regulatory Compliance

TruCap Finance has made this disclosure in compliance with Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The company's prompt communication of this development underscores its commitment to transparency and adherence to regulatory requirements.

As the financial landscape continues to evolve, stakeholders and investors will be keen to observe TruCap Finance's next steps in light of this significant change in its strategic direction.