Indiabulls CEO, MD, chairman, board of directors and AGM
NSE: IBULLSLTDBSE: 533520Commercial Services & SuppliesSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹33.29.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹7,435 Cr910th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 31 Jul 2026
- 17.7
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹65 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 15.4
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 20 Jul 2026
- 2.4
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the latest balance sheet's; the one a year before is not on record. The filing of 31 Jul 2026
- 13.6%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹65 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 15.7%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 31 Jul 2026
- 10.7%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 20 Jul 2026
- 0.15
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,63,91,52554.5% delivered
Indiabulls board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonGurbans Singh
- Chief executiveDivyesh Bharatkumar Shah
- Company Secretary and Compliance OfficerRam Mehar
8 directors4 independent3 executive1 non-executive
- Gurbans Singh · ChairpersonExecutive · joined Oct 2025 · 1 listed board
- Divyesh Bharatkumar Shah · Chief executiveExecutive · joined Oct 2025 · 1 listed board
- Kubeir KheraExecutive · joined Jan 2021 · 1 listed board · 2 committee seats
- Praveen Kumar TripathiNon-executive · joined Apr 2025 · 3 listed boards · 2 as independent · 10 committee seats, 3 as chair
- Surina RajanIndependent · joined Aug 2025 · reappointed Aug 2025 · 13 months as independent · 1 listed board · 1 as independent · 1 committee seat
- Prabhat KumarIndependent · joined Oct 2025 · reappointed Oct 2025 · 11 months as independent · 2 listed boards · 2 as independent · 1 committee seat, 1 as chair
- Rajinder Singh NandalIndependent · joined Oct 2025 · reappointed Oct 2025 · 11 months as independent · 1 listed board · 1 as independent · 3 committee seats
- Sushi SinghIndependent · joined Aug 2026 · reappointed Aug 2026 · 1 month as independent · 1 listed board · 1 as independent · 1 committee seat
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
6 directors who left
- Labh Singh Sitara, left 26 Aug 2026: Others
- Gurinder Singh, left 31 Oct 2025: Others
- Aishwarya Katoch, left 31 Oct 2025: Others
- Vikas Sachdeva, left 31 Oct 2025: Others
- Prem Prakash Mirdha, left 22 Sep 2025: Tenure Completion
- Supriya Bhatnagar, left 4 Sep 2025: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 11 Sep 20268 of 8 present4 independent · 49 days in between
- 23 Jul 20266 of 8 present3 independent · 49 days in between
- 3 Jun 20267 of 8 present3 independent · 34 days in between
- 29 Apr 20268 of 8 present4 independent
Audit Committee
Chair Prabhat Kumar
Surina Rajan, Sushi Singh, Kubeir Khera
- 23 Jul 20262 of 3 present2 independent · 84 days in between
- 29 Apr 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Sushi Singh
Praveen Kumar Tripathi, Rajinder Singh Nandal
- 26 Aug 20262 of 2 present1 independent · 36 days in between
- 20 Jul 20262 of 3 present1 independent · 65 days in between
Stakeholders Relationship Committee
Chair Praveen Kumar Tripathi
Rajinder Singh Nandal, Kubeir Khera
- 20 Jul 20262 of 3 present1 independent
Risk Management Committee
Chair Kubeir Khera
Rajinder Singh Nandal, Praveen Kumar Tripathi, Rajeev Lochan Agrawal
- 15 May 20263 of 3 present2 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- G A R U D & Associates (formerly M/s. Raj Girikshit & Associates)Peer-review certificate valid to Feb 2027
1 earlier auditor
- Raj Girikshit & AssociatesNamed in filings from Mar 2025 to Jun 2025
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Indiabulls AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Indiabulls dividend history
Annual general meeting, 28 Sep 2026
2,58,605 shareholders on the register on 21 Sep 2026; present: 5 promoters and 88 others; votes counted by Mr. Raj Kumar / M/s. AMRK & Associates.The company's voting result (opens in a new tab)
- Adoption of the Audited Standalone and Consolidated Financial Statements of the Company as at March 31, 2026, and Reports of the Board’s and Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 45.06% · promoters 100.00% · institutions 33.27% · other public 14.22%
- Re-appointment of Mr. Praveen Kumar Tripathi (DIN: 02167497), Non-Executive, Non-Independent Director of the Company, as a Director, liable to retire by rotation.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.06%
Turnout: all 45.06% · promoters 100.00% · institutions 33.27% · other public 14.22%
- Approval to increase in the remuneration of Mr. Gurbans Singh (DIN: 06667127), Whole-time Director and Key Managerial Personnel designated as Executive Chairman of the Company, w.e.f. April 1, 2026.Special99.68% for0.32% against
Against: promoters 0.00% · institutions 3.02% · other public 0.06%
Turnout: all 44.92% · promoters 100.00% · institutions 33.27% · other public 13.96%
- Appointment of Dr. Sushi Singh (DIN: 06561359), as an Independent Director of the Company for a period of one year w.e.f August 26, 2026.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 45.06% · promoters 100.00% · institutions 33.27% · other public 14.22%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 2 Jul 2026, 1 resolution
2,57,555 shareholders on the register on 25 Jun 2026; present: 5 promoters and 99 others; votes counted by Mr. Nishant Mittal / M/s. N Mittal & Associates.The company's voting result (opens in a new tab)
- Preferential issue of INR 1000.07 Crore through issue of warrants convertible into equivalent number of equity shares of the Company.SpecialPromoters have an interest in it99.79% for0.21% against
Against: promoters 0.00% · institutions 1.15% · other public 0.02%
Turnout: all 48.40% · promoters 100.00% · institutions 49.83% · other public 13.30%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 28 Jan 2026, 9 resolutions
2,60,181 shareholders on the register on 26 Dec 2025; votes counted by RAJ KUMAR / M/S AMRKS & ASSOCIATES.The company's voting result (opens in a new tab)
Approval to the appointment of Mr. Gurbans Singh (DIN: 06667127), as a Whole-time Director and Key Managerial Personnel designated as Executive Chairman of the Company, for a period of five years, with effect from October 31, 2025.MoreLess
Special98.48% for1.52% againstAgainst: promoters 0.00% · institutions 8.33% · other public 0.79%
Turnout: all 53.68% · promoters 100.00% · institutions 47.52% · other public 24.94%
Approval to the appointment of Mr. Divyesh B. Shah (DIN: 00010933), as a Whole Time Director and Key Managerial Personnel designated as Chief Executive Officer of the Company, for a period of five years, with effect from October 31, 2025.MoreLess
Ordinary98.63% for1.37% againstAgainst: promoters 0.00% · institutions 8.33% · other public 0.02%
Turnout: all 52.42% · promoters 100.00% · institutions 47.52% · other public 22.38%
- Approval to the appointment of Dr. Prabhat Kumar, IAS (Retd.) (DIN: 06415793), as an Independent Director of the Company, for a period of three years, with effect from October 31, 2025.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 53.72% · promoters 100.00% · institutions 47.52% · other public 25.01%
- Approval to the appointment of Mr. Rajinder Singh Nandal (DIN: 03094903), as an Independent Director of the Company, for a period of three years, with effect from October 31, 2025.Special100.00% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 53.72% · promoters 100.00% · institutions 47.52% · other public 25.01%
- Approval to the appointment of Brig. Labh Singh Sitara (Retd.) (DIN: 01724648), as an Independent Director of the Company, for a period of three years, with effect from October 31, 2025.Special99.42% for0.58% against
Against: promoters 0.00% · institutions 3.57% · other public 0.02%
Turnout: all 53.72% · promoters 100.00% · institutions 47.52% · other public 25.01%
- Approval to the re-appointment of Mr. Kubeir Khera (DIN: 03498226), as a Whole Time Director and Key Managerial Personnel of the Company, for a period of five years, with effect from January 1, 2026.Special98.66% for1.34% against
Against: promoters 0.00% · institutions 8.33% · other public 0.03%
Turnout: all 53.72% · promoters 100.00% · institutions 47.52% · other public 25.01%
- Approval to alter the Main Objects clause of the Memorandum of Association of the Company.Special99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 53.72% · promoters 100.00% · institutions 47.52% · other public 25.01%
- Approval for making donation/contribution pursuant to section 181 of the Companies Act 2013.Special98.55% for1.45% against
Against: promoters 0.00% · institutions 8.34% · other public 0.13%
Turnout: all 50.21% · promoters 100.00% · institutions 47.52% · other public 17.87%
- Approval to increase the remuneration of Statutory Auditors’ for FY 2025-26 and 2026-27.Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 53.72% · promoters 100.00% · institutions 47.52% · other public 25.01%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.
Mutual fund votes, meeting of 5 Feb 2020, 2 fund houses
- Approval for giving loan and/or providing guarantee or security by the Company for purchase of its own shares by the Trust/Trustees for the benefit of Employees under Employee Scheme(s).0 for0 against
1 abstained
- Approval of Trust Route and Secondary market acquisition for implementation of ESOP Scheme(s).0 for0 against
1 abstained
- Enabling authorization for increase in borrowing limits of the Company0 for0 against
1 abstained
To authorise the Board of Directors for borrowing from time to time, any sum or sums of monies, which together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained by the Company’s bankers in its ordinary course of business), may exceed the aggregate of its paid-up capital and free reserves, that is to say, reserves not set apart for any specific purpose, provided that the total outstanding amount so borrowed shall not at any time exceed the limit of Rs 2,000 Crores.MoreLess
0 for0 against1 abstained
To authorise the Board of Directors to grant loan, to provide guarantee or security in connection with a loan granted or to be granted to the Employees Welfare Trust (hereinafter referred to as “Trust”), to be set up by the Company, in one or more tranches and on such terms and conditions as may be deemed fit by the Board, for an amount not exceeding 5% (Five percent) of the aggregate of the paid up share capital and free reserves of the Company or any other limits as prescribed under SBEB Regulations read with the Companies Act and applicable Rules, for the purpose of purchase of fully paid-up equity shares of the Company by the Trust/Trustees, in one or more tranches, for implementation of ‘Indiabulls Integrated Services Limited - Employee Stock Option Scheme – 2011 and Employee Stock Option Scheme - 2018’’MoreLess
0 for0 against1 abstained
- To implement ‘Indiabulls Integrated Services Limited - Employee Stock Option Scheme – 2011 and Employee Stock Option Scheme - 2018’ through an Employees Welfare Trust0 for0 against
1 abstained
Mutual fund votes, meeting of 30 Sep 2019, 1 fund house
- To appoint a Director in place of Mr. Ajit Kumar Mittal (DIN: 02698115), Non-Executive Director, who retires by rotation and being eligible, offers himself for re-appointment.0 for0 against
1 abstained
To appoint Mr. Praveen Kumar Tripathi, a retired IAS and Ex-Chief Secretary, Govt of NCT Delhi (DIN: 02167497), as an Independent Director of the Company for a term of three years, with effect from March 28, 2019 till March 27, 2022, not liable to retire by rotation.MoreLess
0 for0 against1 abstained
To appoint Mr. Shamsher Singh Ahlawat (DIN: 00017480) as an Independent Director of the Company for a term of three years, with effect from September 26, 2019 till September 25, 2022, not liable to retire by rotation.MoreLess
0 for0 against1 abstained
To issue Redeemable Non-Convertible Debentures (“NCDs”) secured or unsecured and/or Bonds, for cash, either at par or premium or discount to the face value, under one or more shelf disclosure documents and/or under one or more letters of offer, as may be issued by the Company, and in one or more series, on private placement basis, from time to time, during a period of one year from the date of passing of this Resolution, such that the total amount to be raised through issue of such NCDs / Bonds shall be within the borrowings limits, as per shareholders’ authorization, of upto Rs. 1,000 Crores.MoreLess
0 for0 against1 abstained
- To re-appoint M/s Agarwal Prakash & Co., Chartered Accountants (Firm Registration Number: 005975N), as Statutory Auditors of the Company and to fix remuneration.0 for0 against
1 abstained
To reappoint Justice Gyan Sudha Misra (Retd. Justice Supreme Court of India) (DIN: 07577265) as an Independent Director of the Company for a term of three years, with effect from December 8, 2019 till December 7, 2022, not liable to retire by rotation.MoreLess
0 for0 against1 abstained
To reappoint Mr. Gurrappa Gopalakrishna (Ex-Executive Director, Reserve Bank of India, and Director (with the rank of Deputy Governor) CAFRAL) (DIN: 06407040) as an Independent Director of the Company for a term of three years, with effect from December 8, 2019 till December 7, 2022, not liable to retire by rotation.MoreLess
0 for0 against1 abstained
- To receive, consider and adopt the audited standalone and consolidated financial statements of the Company as at March 31, 2019, and the Reports of the Board of Directors and Auditors thereon.0 for0 against
1 abstained
Each fund house counted once, from its own disclosure; the reasons are its own words.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Sep 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far. A statement's amounts are left out where the raise it states is more than ten times everything the company owns, a figure typed at the wrong scale.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesSep 2025, checked by Acuite Ratings & Research Limited | – | Funding growth plans of subsidiary(ies) | – | – | No |
| Preferential IssuesSep 2025, checked by Acuite Ratings & Research Limited | – | Working capital requirements of subsidiary(ies) | – | – | No |
| Preferential IssuesSep 2025, checked by Acuite Ratings & Research Limited | – | Debt repayment of subsidiary(ies) | – | – | No |
| Preferential IssuesSep 2025, checked by Acuite Ratings & Research Limited | – | General Corporate purposes | – | – | No |
| Preferential IssuesSep 2025, checked by Acuite Ratings & Research Limited | – | Funding growth plans of subsidiary(ies) | – | – | No |
| Preferential IssuesSep 2025, checked by Acuite Ratings & Research Limited | – | Working capital requirements of subsidiary(ies) | – | – | No |
| Preferential IssuesSep 2025, checked by Acuite Ratings & Research Limited | – | Debt repayment of subsidiary(ies) | – | – | No |
| Preferential IssuesSep 2025, checked by Acuite Ratings & Research Limited | – | General Corporate purposes | – | – | No |