RBI Approves Change in Management Control Ahead of Open Offer

RBI has approved the change in management control/ownership of more than 50 percent.

Wed 30 Sep 2026

RBI Approval Date

30.09.2026

Application Shared Date

26.08.2026

Draft Letter of Offer Date

August 7, 2026

Ownership Change Threshold

more than 50 percent

Company Status

Authorized Dealer (Category-II)

What was shared

The company informed BSE under Regulation 30 that the Reserve Bank of India has approved its application for 'Approval for Change in Management Control, or Ownership of more than 50 percent'.

Background

• A Draft Letter of Offer dated August 7, 2026 was shared for an Open Offer to public shareholders, with Fintellectual Corporate Advisors Private Limited as Manager to the Open Offer.
• Para 7.4 of the DLOF noted that the company, being an Authorized Dealer (Category-II) registered with RBI, must obtain prior RBI approval for any acquisition or transfer of control of a Non-Banking Finance Company.
• The application was shared electronically on 26.08.2026 through the RBI PRAVAAH portal.
• RBI conveyed approval by email dated 30.09.2026; the portal shows the application status as Approved.

What it means for investors

This is a regulatory clearance step in the process of change in control linked to the Open Offer. It removes one of the conditions that had to be satisfied before the change in management control and ownership can proceed. Further steps relating to the Open Offer would follow the regulatory process set out in the Letter of Offer.

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