Share price at the NSE close on 23 Oct 2026. Previous close ₹172.60.
- Next results date: the board meets on 29 Oct 2026 to consider: financial results.
- 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.
- ₹2,632 Cr926th 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.
- Lossover the last 12 months
- 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 27 May 2026
- 0.7
- 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 average of the latest balance sheet and the one a year before it. The filing of 29 Jul 2026
- −10.6%
- NIMNet interest margin. Net interest income ÷ the average assets that earn interest × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026.
- 7.35%
- Cost of fundsCost of funds. Interest paid ÷ the average of what the company pays interest on × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026.
- 10.02%
- Credit costCredit cost. What was set aside for loans that may not be repaid ÷ average loans given × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026.
- 15.61%
- ROAReturn on assets. Profit after tax ÷ average total assets × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. It equals net interest income + other income − operating expenses − provisions + exceptional items − tax + the lines below tax, each on the same base. For the year to Mar 2026.
- 1.23%
- LeverageAssets per rupee of net worth. Average total assets ÷ average net worth: rupees of assets for each rupee of net worth; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026.
- 3.07times net worth
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,74,36352.6% delivered
IndoStar Capital Finance board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonNaina Krishna Murthy
- Managing directorRandhir Singh
- Company Secretary and Compliance OfficerShikha Jain
8 directors3 independent1 executive4 non-executive
- Naina Krishna Murthy · ChairpersonIndependent · joined Feb 2018 · reappointed Feb 2023 · 100 months as independent · 5 listed boards · 5 as independent · 5 committee seats
- Sujatha MohanIndependent · joined Apr 2025 · 14 months as independent · 1 listed board · 1 as independent
- Hemant KaulIndependent · joined Feb 2018 · reappointed Feb 2023 · 100 months as independent · 1 listed board · 1 as independent · 3 committee seats, 3 as chair
- Randhir Singh · Managing directorExecutive · joined Jul 2024 · 1 listed board · 1 committee seat
- Devdutt MaratheNon-executive · joined Sep 2023 · 1 listed board · 2 committee seats, 1 as chair
- Aditya JoshiNon-executive · joined Jul 2020 · 1 listed board
- Bobby ParikhNon-executive · joined Mar 2025 · 4 listed boards · 3 as independent · 7 committee seats, 3 as chair
- Vishal GoenkaNon-executive · joined Aug 2025 · 1 listed board · 3 committee seats
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.
3 directors who left
- Dhanpal Jhaveri, left 28 Aug 2025: Others
- Karthikeyan Srinivasan, left 11 May 2025: Others
- Vibhor Kumar Talreja, left 3 Mar 2025: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 27 May 20267 of 8 present3 independent · 27 days in between
- 29 Apr 20266 of 8 present3 independent · 8 days in between
- 20 Apr 20266 of 8 present2 independent · 69 days in between
- 9 Feb 20267 of 8 present3 independent
Audit Committee
Chair Hemant Kaul
Devdutt Marathe, Naina Krishna Murthy
- 27 May 20263 of 3 present2 independent · 106 days in between
- 9 Feb 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Hemant Kaul
Naina Krishna Murthy, Devdutt Marathe
- 29 Apr 20263 of 3 present2 independent · 27 days in between
- 1 Apr 20263 of 3 present2 independent · 230 days in between
- 13 Aug 20252 of 3 present1 independent
Stakeholders Relationship Committee
Chair Devdutt Marathe
Naina Krishna Murthy, Bobby Parikh, Vishal Goenka, Randhir Singh
No meeting listed in the filing.
Risk Management Committee
Chair Hemant Kaul
Randhir Singh, Devdutt Marathe, Jayesh Jain, Nitin Gyanchandani
- 26 May 20263 of 3 present2 independent · 108 days in between
- 6 Feb 20263 of 3 present1 independent
Corporate Social Responsibility Committee
Chair Naina Krishna Murthy
Bobby Parikh, Vishal Goenka, Randhir Singh, Devdutt Marathe
No meeting listed in the filing.
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.
- MSKA & Associates LLPPeer-review certificate valid to Jul 2027
1 earlier auditor
- M S K A & AssociatesNamed in the filing for the quarter to Mar 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.
IndoStar Capital Finance 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.IndoStar Capital Finance dividend history
Annual general meeting, 25 Sep 2026
58,338 shareholders on the register on 18 Sep 2026; present: 2 promoters and 59 others; votes counted by Alifya Sapatwala / Mehta & Mehta, Company Secretaries.The company's voting result (opens in a new tab)
To receive, consider and adopt the audited standalone financial statements for the Financial Year ended March 31, 2026 and the Reports of the Board of Directors and the Reports of the Statutory Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 77.67% · promoters 100.00% · institutions 2.64% · other public 28.66%
- To receive, consider and adopt the audited consolidated financial statements for the Financial Year ended March 31, 2026 and the Reports of the Statutory Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 77.67% · promoters 100.00% · institutions 2.64% · other public 28.66%
- Appoint a Director in place of Mr. Aditya Hemant Joshi (DIN: 08684627), who retires by rotation and being eligible has offered himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 77.67% · promoters 100.00% · institutions 2.64% · other public 28.66%
- Appoint and fix remuneration of Statutory Auditors of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 77.67% · promoters 100.00% · institutions 2.64% · other public 28.66%
- Issue of Non-Convertible Debentures under Private PlacementSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 77.67% · promoters 100.00% · institutions 2.64% · other public 28.66%
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.
Annual general meeting, 25 Sep 2025, 6 resolutions
63,806 shareholders on the register on 18 Sep 2025; present: 2 promoters and 42 others; votes counted by Alifya Sapatwala / Mehta & Mehta.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31,2025, along with the report(s) of the Board of Directors and the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 73.26% · promoters 100.00% · institutions 3.94% · other public 0.40%
- To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31,2025 and the report of the Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 73.26% · promoters 100.00% · institutions 3.94% · other public 0.40%
- To appoint a director in place of Mr. Devdutt Marathe (DIN: 10294876), who retires by rotation and, being eligible, offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.44%
Turnout: all 73.26% · promoters 100.00% · institutions 3.94% · other public 0.40%
- Issue of non-convertible debentures under private placementSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 73.26% · promoters 100.00% · institutions 3.94% · other public 0.40%
- Appointment and payment of remuneration to Secretarial AuditorOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 73.26% · promoters 100.00% · institutions 3.94% · other public 0.40%
- Appointment of Mr. Vishal Goenka (DIN: 10084887) as a Non-Executive NonIndependent Director of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.95%
Turnout: all 73.26% · promoters 100.00% · institutions 3.94% · other public 0.40%
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, 3 Aug 2025, 1 resolution
63,055 shareholders on the register on 30 Jun 2025; votes counted by Ashwini Inamdar / Mehta & Mehta.The company's voting result (opens in a new tab)
- Re-designation and appointment of Mr. Randhir Singh (DIN: 05353131) as Managing Director designated as Executive Vice Chairman of the companySpecial99.76% for0.24% against
Against: promoters 0.00% · institutions 69.70% · other public 0.04%
Turnout: all 73.87% · promoters 100.00% · institutions 4.62% · other public 2.94%
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, 24 May 2025, 7 resolutions
63,645 shareholders on the register on 18 Apr 2025; votes counted by Alifya Sapatwala / Mehta & Mehta.The company's voting result (opens in a new tab)
- Appointment of Ms. Sujatha Mohan (DIN: 10743626) as a Non-Executive Independent Director for a term of five consecutive years with effect from April 21, 2025Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.10%
Turnout: all 73.47% · promoters 100.00% · institutions 3.43% · other public 0.03%
- Appointment of Mr. Bobby Parikh (DIN: 00019437) as a Non-Executive Non-Independent Director with effect from March 5, 2025Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 6.22% · other public 2.68%
Turnout: all 73.47% · promoters 100.00% · institutions 3.43% · other public 0.03%
- Amendment of IndoStar ESOP Plan 2012Special99.76% for0.24% against
Against: promoters 0.00% · institutions 100.00% · other public 3.59%
Turnout: all 73.47% · promoters 100.00% · institutions 3.43% · other public 0.03%
- Amendment of IndoStar ESOP Plan 2016Special99.76% for0.24% against
Against: promoters 0.00% · institutions 100.00% · other public 3.59%
Turnout: all 73.47% · promoters 100.00% · institutions 3.43% · other public 0.03%
- Amendment of IndoStar ESOP Plan 2016 - IISpecial99.76% for0.24% against
Against: promoters 0.00% · institutions 100.00% · other public 3.59%
Turnout: all 73.47% · promoters 100.00% · institutions 3.43% · other public 0.03%
- Amendment of IndoStar ESOP Plan 2017Special99.76% for0.24% against
Against: promoters 0.00% · institutions 100.00% · other public 3.59%
Turnout: all 73.47% · promoters 100.00% · institutions 3.43% · other public 0.03%
- Amendment of IndoStar ESOP Plan 2018Special99.98% for0.02% against
Against: promoters 0.00% · institutions 6.22% · other public 3.59%
Turnout: all 73.47% · promoters 100.00% · institutions 3.43% · other public 0.03%
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, 26 Oct 2024, 1 resolution
The company's voting result (opens in a new tab)
- Approve the sale of IndoStar Home Finance Private Limited, a material subsidiary of the Company.Special99.98% for0.02% against
Against: promoters 0.00% · institutions 4.87% · other public 15.04%
Turnout: all 64.96% · promoters 87.95% · institutions 5.60% · other public 0.05%
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.
Annual general meeting, 30 Sep 2024, 6 resolutions
Present: 2 promoters and 38 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2024, along with the report(s) of the Board of Directors and the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 2.55%
Turnout: all 74.01% · promoters 100.00% · institutions 9.57% · other public 0.04%
- To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2024 and the report of the Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.55%
Turnout: all 74.01% · promoters 100.00% · institutions 9.57% · other public 0.04%
- To appoint a Director in place of Mr. Aditya Joshi (DIN: 08684627), who retires by rotation and, being eligible, offers himself for reappointment.Ordinary99.82% for0.18% against
Against: promoters 0.00% · institutions 32.88% · other public 3.43%
Turnout: all 74.01% · promoters 100.00% · institutions 9.57% · other public 0.04%
- To appoint a Director in place of Mr. Dhanpal Jhaveri (DIN: 02018124), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary99.49% for0.51% against
Against: promoters 0.00% · institutions 93.67% · other public 3.43%
Turnout: all 74.01% · promoters 100.00% · institutions 9.57% · other public 0.04%
- Issue of Non-Convertible Debentures under Private Placement.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 3.23%
Turnout: all 74.01% · promoters 100.00% · institutions 9.57% · other public 0.04%
- Alteration of Articles of Association of the Company.Special99.98% for0.02% against
Against: promoters 0.00% · institutions 2.73% · other public 2.78%
Turnout: all 74.01% · promoters 100.00% · institutions 9.57% · other public 0.04%
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 Jun 2024, 4 resolutions
The company's voting result (opens in a new tab)
- Alteration of the Articles of Association of the CompanySpecial99.79% for0.21% against
Against: promoters 0.00% · institutions 100.00% · other public 6.63%
Turnout: all 73.76% · promoters 100.00% · institutions 4.05% · other public 0.06%
- Appointment of Mr. Randhir Singh (DIN: 05353131) as the Whole-Time Director on the Board of Directors of the Company designated as the Executive Vice ChairmanSpecial99.79% for0.21% against
Against: promoters 0.00% · institutions 100.00% · other public 7.46%
Turnout: all 73.76% · promoters 100.00% · institutions 4.05% · other public 0.06%
- Amendment of IndoStar ESOP Plan 2018Special99.79% for0.21% against
Against: promoters 0.00% · institutions 100.00% · other public 8.35%
Turnout: all 73.76% · promoters 100.00% · institutions 4.05% · other public 0.06%
- Approval of proposed Grant of Stock Options Equal to or exceeding 1% (One Percent) of Issued Capital of the Company under IndoStar ESOP Plan 2018 at the time of grant to identified employee(s)nSpecial99.79% for0.21% against
Against: promoters 0.00% · institutions 100.00% · other public 8.55%
Turnout: all 73.76% · promoters 100.00% · institutions 4.05% · other public 0.06%
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, 22 Mar 2024, 4 resolutions
Present: 2 promoters and 36 others.The company's voting result (opens in a new tab)
- Increase in the authorized share capital of the Company from INR 165 crores INR 200 crores and consequent alteration of clause V(a) of the Memorandum of Association of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 75.18% · promoters 100.00% · institutions 4.46% · other public 0.15%
- Alteration of the Articles of Association of the Company to insert necessary provisions for issue of warrants and related matters theretoSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 75.18% · promoters 100.00% · institutions 4.46% · other public 0.15%
- Issuance of warrants to BCP V Multiple Holdings Pte Ltd and/or BCP V Multiple FVCI Holdings Pte Ltd, promoters of the Company on a preferential basisSpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 75.18% · promoters 100.00% · institutions 4.46% · other public 0.15%
- Issuance of warrants to Florintree Tecserve LLP, a non-promoter entity on a preferential basisSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 75.18% · promoters 100.00% · institutions 4.46% · other public 0.15%
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 25 Sep 2025, 1 fund house
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31,2025, along with the report(s) of the Board of Directors and the Auditors thereon.MoreLess
1 for0 against- To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31,2025 and the report of the Auditors thereon.1 for0 against
- To appoint a director in place of Mr. Devdutt Marathe (DIN: 10294876), who retires by rotation and, being eligible, offers himself for re-appointment.1 for0 against
- Issue of non-convertible debentures under private placement1 for0 against
- Appointment of Mr. Vishal Goenka (DIN: 10084887) as a Non-Executive NonIndependent Director of the Company.1 for0 against
1 proposal not matched to one resolution
Appointment of M/s. Mehta and Mehta, Practicing Company Secretaries, (ICSI Unique Code P1996MH007500) (Peer Review Certificate No.3686/2023) ,as Secretarial Auditor of the Company, for a term of five (5) consecutive years, commencing from 2025-26 to 2029-30 and to conduct Secretarial Audit of the Company, including remuneration as may be determined by the Board of Directors (hereinafter referred to as the Board which term shall be deemed to include any committee constituted / may be constituted by the Board of Directors of the Company or any other person(s), for the time being exercising the powers conferred on the Board of Directors by this resolution and as may be authorised by the Board in this regard), in consultation with the said Secretarial Auditors.MoreLess
1 for0 against
Mutual fund votes, meeting of 3 Aug 2025, 1 fund house
- Re-designation and appointment of Mr. Randhir Singh (DIN: 05353131) as Managing Director designated as Executive Vice Chairman of the company
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundCompliant with law. No governance concern identified with regard to the profile, time commitments and attendance of Mr. Randhir Singh. No concern is identified with regard to change in designation per-se. However, governance and transparency concerns are identified with regard to the remuneration terms that will be applicable during the proposed period of office on account of the quantum of remuneration not being linked to performance targets when the performance of the Company has been impacted and there being inadequate data to ascertain the fairness of ESOPs such as quantum of grants made in FY 2024-25 and at what exercise price and whether the existing approved limit of 17,00,000 options make him eligible for further options during the proposed period of office.
0 for1 against
4 earlier meetings
Mutual fund votes, meeting of 24 May 2025, 1 fund house
- Appointment of Ms. Sujatha Mohan (DIN: 10743626) as a Non-Executive Independent Director for a term of five consecutive years with effect from April 21, 20251 for0 against
- Appointment of Mr. Bobby Parikh (DIN: 00019437) as a Non-Executive Non-Independent Director with effect from March 5, 2025
Against Groww Mutual Fund
- Groww Mutual FundAppointment compliant with law. No concern on the merits of the Appointee. Governance Concern: No cooling off period of 1 year served after completion of term as ID; Appointment as NED will raise questions over his independence in the previous term as ID. Transparency Concern: Attendance details are not available for Board meetings held during FY 2024-25 till the date of the Notice.
0 for1 against - Amendment of IndoStar ESOP Plan 2012
Against Groww Mutual Fund
- Groww Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Vesting Period & Exercise Price as per SEBI Regulations. NRC Discretion to extend the maximum Exercise Period.
0 for1 against - Amendment of IndoStar ESOP Plan 2016
Against Groww Mutual Fund
- Groww Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Vesting Period & Exercise Price as per SEBI Regulations. NRC Discretion to extend the maximum Exercise Period.
0 for1 against - Amendment of IndoStar ESOP Plan 2016 - II
Against Groww Mutual Fund
- Groww Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Vesting Period & Exercise Price as per SEBI Regulations. NRC Discretion to extend the maximum Exercise Period.
0 for1 against - Amendment of IndoStar ESOP Plan 2017
Against Groww Mutual Fund
- Groww Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Vesting Period & Exercise Price as per SEBI Regulations. NRC Discretion to extend the maximum Exercise Period.
0 for1 against - Amendment of IndoStar ESOP Plan 2018
Against Groww Mutual Fund
- Groww Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Vesting Period & Exercise Price as per SEBI Regulations.
0 for1 against
Mutual fund votes, meeting of 26 Oct 2024, 2 fund houses
- Approve the sale of IndoStar Home Finance Private Limited, a material subsidiary of the Company.
Against Groww Mutual Fund
- Groww Mutual FundTechnical non-compliance: Approval through majority of minority also required under regulation 37A of SEBI LODR Regulations. Governance Concern: Valuation Report not disclosed; Inadequate disclosure & transparency.
1 for1 against
Mutual fund votes, meeting of 30 Sep 2024, 2 fund houses
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2024, along with the report(s) of the Board of Directors and the Auditors thereon.MoreLess
2 for0 against- To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2024 and the report of the Auditors thereon.2 for0 against
- To appoint a Director in place of Mr. Aditya Joshi (DIN: 08684627), who retires by rotation and, being eligible, offers himself for reappointment.2 for0 against
- To appoint a Director in place of Mr. Dhanpal Jhaveri (DIN: 02018124), who retires by rotation and being eligible, offers himself for re-appointment.
Against Groww Mutual Fund, WhiteOak Capital Mutual Fund
- Groww Mutual FundNo concern regarding profile and time commitments. Governance concern: Low attendance in Board Meetings.
- WhiteOak Capital Mutual FundDhanpal Jhaveri, 55, is the Vice Chairman of the Everstone Group. He is also the Co_x0002_Founder and CEO of Eversource Capital, a climate investment manager. He has over three decades of experience in investments, strategy, M&A and investment banking. He has been on the board as a Non-Executive Non-Independent Director since September 2010. He is a nominee of Everstone Capital and represents their ~17.1% shareholding in the company (as on 30 June 2024). He has attended four out twelve (33%) board meetings in FY24 and eleven of twenty-eight (39%) board meetings in the last three financial years. We expect directors to take their responsibility seriously and attend all board meetings and at the very least 75% of the board meetings over a three-year period. We have a threshold of 75% attendance in the three years prior to reappointment.
0 for2 against - Issue of Non-Convertible Debentures under Private Placement.2 for0 against
- Alteration of Articles of Association of the Company.
Against Groww Mutual Fund
- Groww Mutual FundCompliant with law. Governance concern: Present 152 clause - Undermining role of NRC.
1 for1 against
Mutual fund votes, meeting of 28 Jun 2024, 1 fund house
- Alteration of the Articles of Association of the Company
Against Groww Mutual Fund
- Groww Mutual FundCompliant with Law. Governance concern: Disproportionate Nomination Rights provided to the promoters which may Limit the role of NRC and Right to nominate alternate director on the Board.
0 for1 against - Appointment of Mr. Randhir Singh (DIN: 05353131) as the Whole-Time Director on the Board of Directors of the Company designated as the Executive Vice Chairman
Against Groww Mutual Fund
- Groww Mutual FundCompliant with law. No concern on merit of appointee. Governance concern: Excessive Remuneration Compared to other ED.
0 for1 against - Amendment of IndoStar ESOP Plan 2018
Against Groww Mutual Fund
- Groww Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Lack of clarity in the Scheme w.r.t Exercise Price or Pricing Formula. Governance Concern: Accelerated vesting.
0 for1 against - Approval of proposed Grant of Stock Options Equal to or exceeding 1% (One Percent) of Issued Capital of the Company under IndoStar ESOP Plan 2018 at the time of grant to identified employee(s)n
Against Groww Mutual Fund
- Groww Mutual FundInterlinked with Resolution #3.
0 for1 against
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 Dec 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 IssuesNov 2025, checked by CRISIL Ratings Limited | – | Growth Objectives of the Company: The Company shall utilize at least 75% of the Issue Proceeds to meet the funding requirements and growth objectives of the Company, including to augment the Company’s capital base, for onward lending by way of disbursement of loans to borrowers in the ordinary course of the Company’s businesses (including under the Company’s and subsidiaries’ commercial vehicle financing, housing finance, SME financing and retail lending businesses), in such manner and proportion as may be decided by the Board from time to time, in compliance with applicable laws (referred to below as “ICF Growth Objectives”). | – | – | No |
| Preferential IssuesNov 2025, checked by CRISIL Ratings Limited | – | General Corporate Purposes: Up to 25% (twenty five percent) of the Issue Proceeds will be utilised for general corporate purposes, which includes, inter alia, meeting ongoing general corporate exigencies and contingencies, expenses of the Company, as applicable, in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws (referred to below as “General Corporate Purposes”). | – | – | No |
| Preferential IssuesDec 2025, checked by CRISIL Ratings Limited | – | Growth Objectives of the Company: The Company shall utilize at least 75% of the Issue Proceeds to meet the funding requirements and growth objectives of the Company, including to augment the Company’s capital base, for onward lending by way of disbursement of loans to borrowers in the ordinary course of the Company’s businesses (including under the Company’s and subsidiaries’ commercial vehicle financing, housing finance, SME financing and retail lending businesses), in such manner and proportion as may be decided by the Board from time to time, in compliance with applicable laws (referred to below as “ICF Growth Objectives”). | – | – | No |
| Preferential IssuesDec 2025, checked by CRISIL Ratings Limited | – | General Corporate Purposes: Up to 25% (twenty five percent) of the Issue Proceeds will be utilised for general corporate purposes, which includes, inter alia, meeting ongoing general corporate exigencies and contingencies, expenses of the Company, as applicable, in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws (referred to below as “General Corporate Purposes”). | – | – | No |