+
Fusion Finance Seeks Reclassification Of Former Promoter To Public
ECONOMY & POLICY

Fusion Finance Seeks Reclassification Of Former Promoter To Public

Fusion Finance Limited (the Company) has received a formal request from Mr. Devesh Sachdev and his family to reclassify their shareholding from the Promoter and Promoter Group category to the Public shareholder category. The request follows a structured leadership and governance transition undertaken by the Company over recent months. The board will consider the reclassification request in line with regulatory requirements and internal governance processes.

Mr. Sachdev resigned as Managing Director with effect from 30 September 2025 and vacated his board position 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 states that stakeholders were kept informed through timely stock exchange disclosures and formal communications with lenders. The reclassification request is described as reflecting the evolved management and control structure of the Company.

Shareholders approved amendments to the Articles of Association in January 2026 that removed special rights previously available to Mr. Sachdev, aligning the governance framework with the current professionally managed structure. The Company notified the stock exchanges of the reclassification request on 21 February 2026 and intends to place the matter before the board, seek the exchanges no objection or approval, and thereafter obtain shareholders' approval in compliance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These procedural steps are expected to formalise the classification change if approvals are granted.

Honey Rose Investments Ltd, Creation Investments Fusion LLC and Creation Investments Fusion II LLC will continue to be classified as promoters and will retain majority shareholding in the Company. The Company reiterated its commitment to high standards of corporate governance and regulatory compliance and said it will keep stakeholders informed as the reclassification process progresses. The Company also confirmed that the request follows prior governance changes and does not alter the existing promoter composition beyond the specific reclassification sought.

Fusion Finance Limited (the Company) has received a formal request from Mr. Devesh Sachdev and his family to reclassify their shareholding from the Promoter and Promoter Group category to the Public shareholder category. The request follows a structured leadership and governance transition undertaken by the Company over recent months. The board will consider the reclassification request in line with regulatory requirements and internal governance processes. Mr. Sachdev resigned as Managing Director with effect from 30 September 2025 and vacated his board position 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 states that stakeholders were kept informed through timely stock exchange disclosures and formal communications with lenders. The reclassification request is described as reflecting the evolved management and control structure of the Company. Shareholders approved amendments to the Articles of Association in January 2026 that removed special rights previously available to Mr. Sachdev, aligning the governance framework with the current professionally managed structure. The Company notified the stock exchanges of the reclassification request on 21 February 2026 and intends to place the matter before the board, seek the exchanges no objection or approval, and thereafter obtain shareholders' approval in compliance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These procedural steps are expected to formalise the classification change if approvals are granted. Honey Rose Investments Ltd, Creation Investments Fusion LLC and Creation Investments Fusion II LLC will continue to be classified as promoters and will retain majority shareholding in the Company. The Company reiterated its commitment to high standards of corporate governance and regulatory compliance and said it will keep stakeholders informed as the reclassification process progresses. The Company also confirmed that the request follows prior governance changes and does not alter the existing promoter composition beyond the specific reclassification sought.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train’s Surat-Vapi Section Set for 2027

The first section of the Mumbai-Ahmedabad Bullet Train corridor, linking Surat and Vapi, is targeted to begin services in 2027. Construction is expected to be completed by December 2026, while Railway Minister Ashwini Vaishnaw has indicated that an inauguration could take place around the middle of 2027. The National High Speed Rail Corporation (NHSRCL) said the train being manufactured in India is expected to reach the tracks around April or May 2027. The train will undergo extensive testing before the section is opened for passenger services. The project began construction in 2021 and includ..

Next Story
Infrastructure Transport

Indian Railways Approves Four Projects Worth Rs. 7.36 bn Across Four States

Indian Railways has approved four projects with a combined value of Rs. 7.36 bn across Uttar Pradesh, Maharashtra, Andhra Pradesh and Gujarat. The programme covers train protection, signalling, electric traction supply and a road overbridge, with each project assigned to a different railway zone. In Uttar Pradesh, Rs. 2.52 bn has been approved to extend the Kavach 4.0 automatic train protection system across 607.7 km in the Lucknow Division of North Eastern Railway. The system monitors train movements and can apply the brakes if a driver fails to observe a signal or exceeds a safe speed. The w..

Next Story
Infrastructure Urban

Chandru Raheja Sells 1.49% Stake in Mindspace REIT for Rs. 5 bn

Billionaire Chandru Lachmandas Raheja has sold a 1.49 per cent holding in Mindspace Business Parks REIT for Rs. 5 bn through a bulk deal on the BSE. The transaction involved 9.9 mn units and was executed at an average price of Rs. 505 per unit, according to exchange data. Following the sale, units of Mindspace Business Parks REIT were trading 0.18 per cent lower at Rs. 504.05 on Tuesday. Exchange data did not identify the buyers involved in the transaction. Raheja is the chairman of real estate company K Raheja Corp. The sale involved 99,00,990 units, representing 1.49 per cent of the Mumbai-b..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code