Veefin Solutions Limited has announced strategic leadership appointments at PSB Xchange, its digital marketplace for financial solutions. The company disclosed the appointments of Ankush Aggarwal as Chief Experience Officer and Sahil Sikka as Chief Business Officer & Chief Financial Officer on January 2, 2026, under Regulation 30 of the SEBI LODR Regulations, 2015.

Strategic Leadership Strengthening

The appointments represent a significant step in strengthening PSB Xchange's leadership team as the platform accelerates scale, platform depth, and ecosystem-led growth. Both executives bring extensive experience in banking and financial services to support the company's expansion objectives.

Ankush Aggarwal's Appointment

Ankush Aggarwal joins as Chief Experience Officer, bringing over two decades of leadership experience across Corporate Banking and SME segments. His expertise includes building enterprise-scale client servicing frameworks, driving digital journey transformation, and enabling end-to-end process automation with a focus on experience-led growth.

In his previous leadership roles at Kotak Mahindra Bank Limited, IndusInd Bank Limited, and SG Finserve Limited, Ankush led large cross-functional initiatives spanning customer onboarding processes, credit lifecycle management, servicing operations, and digital platform development. At PSB Xchange, his primary focus will be on building intuitive, seamless, and outcome-driven experiences for banks, corporates, and ecosystem partners.

Sahil Sikka's Expanded Role

Sahil Sikka has been appointed as Chief Business Officer & Chief Financial Officer, contributing over 15 years of leadership experience across banking and financial services. He was part of the founding leadership team at SG Finserve Limited, where he played a pivotal role in building a listed NBFC from the ground up, covering business and capital strategy, product design, distribution, and governance.

In his dual role, Sahil will focus on strengthening PSB Xchange's growth strategy, scaling the business sustainably, and working closely with cross-functional teams to drive long-term value creation while overseeing financial operations.

Management Commentary

Sorabh Dhawan, CEO – PSB Xchange, Veefin Solutions Limited, commented on the appointments: "We are pleased to welcome Ankush and Sahil to the PSB Xchange leadership team. As the platform continues to scale and deepen its engagement with banks and financial institutions, strong leadership across experience, strategy, and execution is critical."

Dhawan emphasized that Ankush's expertise in building experience-led, technology-driven operating models, combined with Sahil's proven ability to scale businesses with strategic clarity and governance discipline, significantly strengthens the leadership bench.

Platform Overview

PSB Xchange operates as a multi-lender digital working capital marketplace led by the PSB Alliance and developed by Veefin Solutions. The platform brings together banks, NBFCs, corporates, MSMEs, and ecosystem partners on a single platform, enabling seamless participation across supply chain finance programs by standardizing onboarding, program discovery, and transaction execution.

With these appointments, PSB Xchange reinforces its commitment to building a robust leadership team capable of supporting innovation, scale, and ecosystem-led transformation across India's financial services landscape.

Veefin Solutions Limited has successfully completed its preferential allotment following the board meeting held on December 24, 2025. The company, listed on the BSE SME platform, allotted equity shares and convertible warrants after receiving necessary approvals from shareholders and BSE Limited.

Preferential Allotment Details

The board of directors approved the allotment of securities on preferential basis following the EGM approval received on October 13, 2025, and in-principle approval from BSE Limited on December 10, 2025.

Equity Shares Allotment

The company allotted 6,14,731 fully paid-up equity shares with a face value of ₹10.00 each at a price of ₹391.00 per share, including a premium of ₹381.00 per share. The total amount raised through equity shares stands at ₹24,03,59,821, allocated exclusively to non-promoter investors on preferential basis.

Convertible Warrants Details

Veefin Solutions allotted 11,12,820 convertible warrants at ₹97.75 per warrant, representing 25% of the total issue price of ₹391.00 per warrant. The company received ₹10,87,78,155 as upfront payment for the warrants from specified promoters and non-promoter shareholders.

Each warrant is convertible into one fully paid-up equity share of face value ₹10.00 upon payment of the balance consideration of ₹293.25 per warrant within 18 months from the allotment date.

Impact on Share Capital

Following the preferential allotment, the company's issued, subscribed and paid-up equity share capital has increased significantly.

Board Meeting Proceedings

The board meeting commenced at 6:20 PM and concluded at 8:40 PM on December 24, 2025. The board authorized key management personnel including Chairman & Managing Director Raja Debnath, Whole Time Director Gautam Vijay Udani, and Company Secretary Urja Harsh Thakkar to execute necessary documentation for the dematerialization of equity shares with NSDL, CDSL, and RTA.

The successful completion of this preferential allotment marks a significant milestone for Veefin Solutions Limited, strengthening its capital base for future growth initiatives and strategic expansion plans.