Nature of change: Appointment of an Additional Director and Whole-time Director (Key Managerial Personnel), with a planned re-designation to Managing Director.
Appointment Details: Mr. Vasudev Jagannath (DIN not provided in disclosure) was appointed as an Additional Director and Whole-time Director for a period of three years. This appointment is subject to the approval of shareholders, regulators, and other applicable approvals. The effective date for this role will be from the date of requisite regulatory approval.
Re-designation Details: The Board approved the re-designation of Mr. Vasudev Jagannath as the Managing Director of the Company, effective from January 1, 2027, for a period of three years. This is also subject to shareholder and regulatory approvals. This transition is described as part of a "planned leadership succession to ensure a seamless and orderly transition" and is intended to ensure continuity of leadership and the Company's strategic and business priorities.
Previous KMP: The disclosure notes that Mr. R. Venkataraman will continue to serve as a member of the Board of Directors, implying he is the current Managing Director whose role is being succeeded. His nature of exit (resignation, retirement, etc.) is not explicitly stated, but the succession is described as planned.
Profile and Qualifications: Mr. Vasudev Jagannath is the Head of Institutional Equities at IIFL and brings over three decades of experience in the capital markets. His career began with CLSA in 1996 on the Sales Trading desk. He later moved to its New York Research Sales desk, covering the US market for five years. Before joining IIFL, he served as Head of Sales at CLSA. He holds a degree in Computer Engineering from Mumbai University, an MBA from IIM Calcutta, and is a Chartered Financial Analyst (CFA).
Eligibility and Compliance: The company confirmed that Mr. Vasudev Jagannath is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority, in accordance with BSE Circular No. LIST/COMP/14/2018-19 and NSE Circular No. NSE/CML/2018/24, both dated June 20, 2018.
Relationship with other Directors: It is disclosed that Mr. Vasudev Jagannath is not related to any director of IIFL Capital Services Limited.
Key Financial or Operational Approvals
The Board meeting, held on October 28, 2026, from 2:30 p.m. to 4:30 p.m, approved the aforementioned appointments. No other financial results, fundraising, or operational approvals are mentioned in this specific disclosure.
Strategic or Business Context
The appointment is framed within the context of the Company embarking on its "next phase of growth." Mr. Jagannath's nearly two decades with the Company, deep institutional knowledge, and broad leadership experience are cited as qualities that position him well to lead the Company forward.
Any Other Material Information
Regulatory Compliance: The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The required details are provided in the enclosed Annexure A, as per SEBI Circular No. HO/CFD/CFD-PoD-2/CIR/P/0155 dated January 30, 2026.
Company Information: The company's name is IIFL Capital Services Limited (formerly IIFL Securities Limited). Its Corporate Identity Number is L99999MH1996PLC132983. The Corporate Office is at Office No. 1, Ground Floor, Hubtown Solaris, N. S. Phadke Marg, Andheri (E), Near East West Flyover, Mumbai - 400 069. The Registered Office is at IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate, Thane - 400 604.
