Fusion Finance Ltd announces proposed reclassification of Mr. Devesh Sachdev & Family from Promoter & Promoter Group to Public

Fusion Finance Limited ("the Company") has received a formal request from Mr. Devesh Sachdev and his family members seeking reclassification of their status from the "Promoter & Promoter Group" category to the "Public" shareholder category.

This request follows the completion of a structured leadership and governance transition over the past several months. Mr. Sachdev resigned as Managing Director with effect from 30 September 2025 and subsequently stepped down from the Board of Directors with effect from 4 November 2025. Since then, he has not been involved in the management or day-to-day affairs of the Company. The Company had kept all stakeholders informed of these developments through timely stock exchange disclosures and formal communications with lenders.

In January 2026, shareholders approved amendments to the Articles of Association, inter alia, removing special rights previously available to Mr. Sachdev, thereby aligning the governance framework with the Company's current professionally managed structure. The proposed reclassification is therefore a natural progression of the governance transition already effected, ensuring that shareholding classification accurately reflects the Company's evolved management and control structure.

The Company has already intimated the Stock Exchanges about this reclassification request, on 21 February 2026, in accordance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The reclassification request will be placed before the Board of Directors and thereafter an application will be filed with the Stock Exchanges for their noobjection/ approval, followed by shareholders' approval, in compliance with Regulation 31A of the SEBI LODR Regulations.

The other promoter entities, namely Honey Rose Investments Ltd, Creation Investments Fusion LLC and Creation Investments Fusion II LLC, shall continue to remain classified as promoters and will continue to hold majority shareholding in the Company.

Fusion Finance Limited remains committed to high standards of corporate governance, regulatory compliance, and transparent stakeholder communication. The Company will keep stakeholders informed as the reclassification process progresses.

Shares of Fusion Finance Limited was last trading in BSE at Rs. 183.85 as compared to the previous close of Rs. 182.70. The total number of shares traded during the day was 18435 in over 375 trades.

The stock hit an intraday high of Rs. 185.25 and intraday low of 178.05. The net turnover during the day was Rs. 3342369.00.

Source : Equity Bulls

Keywords

FusionFinance INE139R01012 NBFC NonBankingFinanceCompany PromoterGroup StakeConversion Public