Board meeting on 13 Oct 2026 to consider housing finance subsidiary and promoter reclassification

Minolta Finance has informed the exchanges that its Board of Directors will meet on Tuesday, October 13, 2026.

Thu 8 Oct 2026

Board Meeting Date

Tuesday, October 13, 2026

Proposed Subsidiary

100% wholly-owned subsidiary, proposed to be named Wagad Housing Finance Private Limited

Authorised Share Capital of Proposed Subsidiary

₹10,00,000/-

The board meeting

Minolta Finance Ltd has informed BSE and the Calcutta Stock Exchange that a meeting of its Board of Directors will be held on Tuesday, October 13, 2026. The notice lists two business items that the board will consider and approve.

Item 1: A wholly-owned subsidiary

• The board will consider and approve the incorporation of a 100% wholly-owned subsidiary of Minolta Finance Ltd.
• The proposed name of the new company is Wagad Housing Finance Private Limited.
• Its authorised share capital is proposed at ₹10,00,000/-.
• The incorporation is subject to such approvals as may be required.

What authorised share capital means: it is the ceiling up to which a company can issue shares. It is not the amount invested or the paid-up capital, and it is not a figure of profit or revenue.

Item 2: Promoter and Promoter Group reclassification

• The board will consider and approve a request for reclassification of certain members from the Promoter and Promoter Group category to the Public category.
• This is proposed to be done in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• It is subject to the necessary approvals from the Stock Exchanges and other applicable regulatory authorities.
• The company states that the reclassification will be undertaken subject to fulfilment of all applicable conditions and approvals.

What reclassification means: under Indian listing rules, shareholders are grouped into promoter and public categories, and this affects how shareholding patterns are reported and how certain rules apply. If some promoter-group members move to the public category, the promoter group's reported holding would reduce and the public holding would rise by the same extent, provided the conditions in Regulation 31A are met and approvals come through.

How to read this announcement

• It is a notice of a board meeting, not the outcome of one. The items are placed for consideration and approval, so the outcome will be known only after the meeting.
• Both items carry conditions: the subsidiary incorporation is subject to approvals as may be required, and the reclassification is subject to stock exchange and other regulatory approvals.
• The only figure tied to the new company in this notice is the proposed authorised share capital of ₹10,00,000/-.
• The notice does not specify which members have sought reclassification, or how many shares are involved.

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