Board meet outcome: RTA change, CEO resignation and new CEO, compliance officer appointed, 4,50,000 ESOPs

Registrar & Transfer Agent to change from MUFG Intime India Private Limited to Purva Sharegistry (India) Private Limited; effective date to be communicated later.

Thu 1 Oct 2026

ESOP Grant

4,50,000 Employee Stock Options granted under the Finkurve ESOP Plan -2018

ESOP Exercise Price

Rs. 65/- per option

CEO Resignation Effective

close of business hours of October 20, 2026

New CEO Appointment Effective

December 13, 2026

RTA Change

from MUFG Intime India Private Limited to Purva Sharegistry (India) Private Limited

What was announced

Finkurve Financial Services has shared the outcome of its board meeting held on Thursday, October 1, 2026. The board considered and approved five items: a change of Registrar & Transfer Agent, the resignation of the Chief Executive Officer, the appointment of a new Chief Executive Officer, the appointment of a Chief Compliance Officer, and the grant of employee stock options.

Leadership transition

• Mr. Naveen Kottala has resigned as Chief Executive Officer with effect from the close of business hours of October 20, 2026. The update states that he tendered his resignation to pursue other professional opportunities aligned with his long-term career aspirations.
• The board appointed Mr. Siddharth Purandare as Chief Executive Officer with effect from December 13, 2026, on the recommendation of the Nomination and Remuneration Committee. He is designated as Key Managerial Personnel of the Company.
• The two dates set out a two-stage change: the outgoing CEO's resignation takes effect on October 20, 2026, and the incoming CEO's appointment takes effect from December 13, 2026.
• Mr. Purandare's profile: over 23 years of experience in the financial services industry, including setting up an MSME-focused NBFC in India for US-based AVANA Companies, and over a decade at Edelweiss Retail Finance Limited where he headed Credit Risk nationally for SME Lending. He holds an M.M.S. (Finance) from the Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai University, and a Bachelor's degree in Mechanical Engineering from Fr. Agnel, Mumbai University.

Registrar & Transfer Agent change

• The board approved changing the Registrar & Transfer Agent (RTA) for its equity shares from M/s. MUFG Intime India Private Limited to M/s. Purva Sharegistry (India) Private Limited.
• MUFG will continue to serve as the Company's RTA until completion of data transition, shifting of electronic connectivity and other related procedures, along with receipt of necessary confirmations or approval from NSDL, CDSL and other authority, if any.
• The effective date of appointment will be communicated after receiving a No Objection Certificate from the existing RTA and after entering into Tripartite Agreements between Purva, MUFG and the Company.
• The reason given is Purva's workforce of experienced professionals, multiple e-solutions to listed entities for shares and NCDs related activities, a scalable electronic interface to address shareholder queries and grievances, and reach to the shareholders' base of the Company.

Compliance officer

• Mr. Hussain Mohammed Pittalwala has been appointed Chief Compliance Officer with effect from October 1, 2026.

Employee stock options

• 4,50,000 (Four Lakh Fifty Thousand Only) Employee Stock Options have been granted by the Nomination and Remuneration Committee under the "Finkurve ESOP Plan -2018".
• These options are exercisable into not more than 4,50,000 equity shares of face value of Re. 1/- each fully paid-up.
• The exercise price determined is Rs. 65/- per option.
• The options carry a vesting period of minimum 1 (One) Year from the date of grant, and all vested options are exercisable within a maximum period of 5 (Five) years from the date of vesting of the respective options, as per the vesting schedule in the grant letter.
• The scheme is stated to be in terms of the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021.

How this can be read

The resignation of a Chief Executive Officer is normally followed closely because it concerns who runs the business day to day. Here, the update names a successor in advance and sets out his background and start date, which is the main substantive detail investors can weigh. The RTA change deals with the back-office function of maintaining the shareholder register and handling grievances, and the update ties its effective date to a No Objection Certificate and a tripartite agreement. The ESOP grant of 4,50,000 options at Rs. 65/- per option is the one item with a direct link to the equity share count over time, since exercise would result in the issue of up to 4,50,000 equity shares.

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