Fusion Finance Limited has received a formal request from Mr Devesh Sachdev and his family seeking reclassification from the Promoter and Promoter Group category to the Public shareholder category, the company said in a press release dated 23 February 2026. The proposal follows a period of structured leadership and governance transition at the company. The reclassification request has been filed to ensure that shareholding classification reflects the current management and control arrangements.

Mr Sachdev resigned as Managing Director with effect from 30 September 2025 and subsequently stepped down from the Board with effect from four November 2025, after which he has not been involved in the management or day-to-day affairs of the company. The company said it has informed stakeholders through timely stock exchange disclosures and formal communications with lenders. These changes were implemented as part of a planned move to a professionally managed structure.

In January 2026 shareholders approved amendments to the Articles of Association, including the removal of special rights previously available to Mr Sachdev, aligning the governance framework with the company’s current operational model. The company informed the stock exchanges of the reclassification request on 21 February 2026 in accordance with applicable SEBI listing regulations. The request will be placed before the Board of Directors and, subject to no objection from the exchanges, will be brought to shareholders for approval under Regulation 31A.

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 said it remains committed to high standards of corporate governance, regulatory compliance and transparent communication with stakeholders. The company will update stakeholders as the reclassification process progresses.