On 23 February 2026 Fusion Finance Limited, hereafter the company, received a formal request from Devesh Sachdev and his family members seeking reclassification from promoter and promoter group category to the public shareholder category. The request follows a structured leadership and governance transition that began several months earlier. The submission represents a step intended to align shareholding classification with the company's current management arrangements.

Mr Sachdev resigned as Managing Director with effect from 30 September 2025 and stepped down from the board with effect from four November 2025, and he has not been involved in management or day-to-day affairs since then. The company conveyed these changes to stakeholders through timely stock exchange disclosures and communications with lenders. In January 2026 shareholders approved amendments to the articles of association that removed earlier special rights and aligned governance with a professionally managed structure.

The company notified the stock exchanges on 21 February 2026 in accordance with the SEBI listing obligations and disclosure requirements regulations, and the reclassification request will be considered by the board of directors. Following board consideration an application will be filed with the stock exchanges for no objection or approval and thereafter shareholders approval will be sought in compliance with Regulation 31A of the SEBI LODR regulations. The process is presented as a formal compliance pathway to reflect the changed management and control arrangements.

Other promoter entities including Honey Rose Investments Limited, Creation Investments Fusion LLC and Creation Investments Fusion II LLC will remain classified as promoters and will continue to hold majority shareholding in the company. Fusion Finance Limited reiterates its commitment to high standards of corporate governance, regulatory compliance and transparent stakeholder communication. The company will keep stakeholders informed as the reclassification process progresses.