SFSG Finserve539199Routine director change

Board approves financial results, two stake acquisitions, GIFT City plan; Alok Bhushan named Internal Auditor

SG Finserve Board, on October 16, 2026, approved Mr. Alok Bhushan as Internal Auditor with effect from October 17, 2026.

By ScoutQuest · Fri 16 Oct 2026, 2:16 PM IST · 3 min read

Internal Auditor Appointment

Mr. Alok Bhushan as Internal Auditor with effect from October 17, 2026

Head - Internal Audit Step Down

Mr. Saurabh Mishra steps down at close of business hours of October 16, 2026

Board Approval Date

October 16, 2026

Board meeting outcome

SG Finserve Limited's Board met on Friday, October 16, 2026, and approved the Un-Audited Financial Results (Standalone & Consolidated) for the quarter and half-year ended September 30, 2026, along with the Limited Review Report issued by M/s. S. P. Chopra & Co., Chartered Accountants, the statutory auditors.

Internal auditor change

• Mr. Saurabh Mishra will be transitioning from his current role as Head – Internal Audit and shall step down from this position with effect from the close of the business hours of October 16, 2026, to pursue other responsibilities within the organisation.
• Mr. Alok Bhushan is appointed as the Internal Auditor of the company with effect from October 17, 2026.
• Mr. Bhushan is described as a banking professional who has held senior positions with State Bank of India and Bank of Baroda, with experience in corporate banking, credit appraisal, risk management, stressed asset resolution, regulatory compliance and business operations. Prior to his superannuation from State Bank of India in August 2025, he served as Deputy General Manager.
• He is not related to any director or key managerial personnel of the company.

Stake acquisition one — SG Enterprise Solutions Private Limited

• Acquisition of 24.5% of the issued, subscribed and paid-up equity share capital, from SG Green Buildings Private Limited, a related party.
• Shares to be acquired: 12,250 equity shares; aggregate consideration ₹ 1,22,500, payable in cash.
• The target was incorporated on September 10, 2026 and is to act as a Group Shared Services Company providing common corporate support services to participating group entities through a centralised shared services model.
• Post acquisition, it becomes an associate of the company. The acquisition is expected to be completed by December 31, 2026.

Stake acquisition two — Successship Technologies Private Limited

• Acquisition of 15.5% of the issued, subscribed and paid-up equity share capital, for an aggregate cash consideration of ₹ 4.65 crore.
• This does not constitute a related party transaction.
• The target is in IT Services, was incorporated on August 30, 2024, and had turnover of Rs. 52.5 Lakh in FY 2025-26.
• Purpose: to enable and strengthen in-house AI and Digital capabilities for captive Supply Chain Financing and Digital Lending requirements, and to provide AI-enabled services to corporate and MSME customers.
• The acquisition is expected to be completed by March 31, 2027.

GIFT City finance company plan

• The Board approved an investment plan of up to USD 5 million (approximately ₹48 crore) for setting up a finance company in GIFT City as a wholly owned subsidiary, subject to obtaining the requisite regulatory and statutory approvals.
• The Board delegated the necessary powers to the Finance Committee to undertake all requisite actions and complete the formalities in connection with the proposed investment and incorporation of the subsidiary.

How to read the outcome

• The internal audit change is an internal transition plus a fresh appointment, with the outgoing Head – Internal Audit continuing in other responsibilities within the organisation.
• Both acquisitions are minority stakes bought for cash, one from a related party and one not, each with an expected completion timeline.
• The GIFT City step is an approved investment plan that is subject to obtaining regulatory and statutory approvals.
• The financial results were reviewed by the statutory auditors, not audited.

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