Baid Finserv Ltd

Rating Details

• Rating reaffirmed for Baid Finserv bank facilities: Long Term BBB, Stable; Short Term A3.
• Total facilities size: Rs 305 crore.
• Letter reference CARE/HO/RL/2026-27/2993 dated September 29, 2026.

Dividend declaration

• At the 35th AGM on Sep 23, 2026 via VC/OAVM, final dividend of Rs 0.10 per share approved.

Appointment of Non-Executive Independent Director

• Himanshu Kumar Jain appointed Non-Executive Independent Director for five-year term from Aug 13, 2026 to Aug 12, 2031.
• Profile: Journalism degree holder with over five years' professional experience.
• Not related to any director; not debarred by SEBI.

CMD Re-appointment

• Type of change: Re-appointment of Mr. Panna Lal Baid as Chairman and Managing Director.
• Reason: Re-appointment to continue leadership, approved by shareholders.
• Effective term: Three consecutive years from 01-Apr-2027 to 31-Mar-2030, approved at the 35th AGM.
• Profile: Founder with over 56 years in financial services; pivotal growth driver.
• Related parties: Related to Aman Baid (grandson), Aditya Baid (grandson), and Alpana Baid (daughter-in-law).
• Compliance: Not debarred from holding office by SEBI or other authorities.

AGM details

• Date, time and mode: 23 September 2026, 03:00 PM, via VC/OAVM.
• Remote e-voting window: 19-22 September 2026, 09:00 AM to 05:00 PM.
• Voting entitlement cut-off: 16 September 2026.
• Share count: 15,48,88,107 shares on record.

Key resolutions

• Item 1: Ordinary resolution to adopt financial statements for the year ended 31 March 2026.
• Item 2: Ordinary resolution to declare final dividend of Rs 0.10 per share.
• Item 3: Ordinary resolution for appointment of Alpana Baid by rotation.
• Item 4: Special resolution for re-appointment of Chairman and Managing Director.
• Item 5: Special resolution appoint Himanshu Kumar Jain as Independent Director.
• Item 6: Special resolution to alter the MOA object clause.

Voting results

• Item 1 passed with 99.9999% in favour.
• Item 2 passed with 99.9999% in favour.
• Item 3 passed with 99.9999% in favour.
• Item 4 passed with 99.9988% in favour.
• Item 5 passed with 99.6978% in favour.
• Item 6 passed with 99.9988% in favour.

Dividend

• Final dividend proposed/declared at Rs 0.10 per equity share (5% of par).

Director changes

• Alpana Baid reappointed by rotation.
• Panna Lal Baid reappointed as Chairman and Managing Director.
• Himanshu Kumar Jain appointed as Independent Director.

Auditors

• No auditor appointments or changes disclosed.

Related party transactions

• No material related party transactions disclosed.

Other material approvals

• Alteration of the object clause of the Memorandum of Association.

AGM Details

• AGM held on 23 Sep 2026 via VC/OAVM, 3:00–3:37 PM IST.
• Remote e-voting window: 19–22 Sep 2026, 9:00 AM–5:00 PM IST.
• Quorum: 48 members attended; meeting chaired by CMD.
• Conducted in accordance with MCA/SEBI circulars and Companies Act provisions.

Resolutions Put to Vote

• Adoption of financial statements for year ended 31 Mar 2026.
• Final dividend on equity shares for FY 2025-26: Rs 0.10 per share.
• Reappointment of Alpana Baid (retiring by rotation) as director.
• Re-appointment of Panna Lal Baid as Chairman and Managing Director for three years from Apr 2027.
• Appointment of Himanshu Kumar Jain as Non-Executive Independent Director for five years.
• Alteration of Memorandum Object Clause to widen lending/financing activities.

Voting Results

• Voting results pending; to be announced within two working days after meeting.

Dividend

• Final dividend of Rs 0.10 per equity share proposed.

Director Changes

• Alpana Baid to be reappointed as director.
• Panna Lal Baid reappointed as CMD for three-year term.
• Himanshu Kumar Jain appointed as Non-Executive Independent Director for five years.

Auditors

• No new statutory/secretarial/cost auditor appointments announced.
• Statutory and Secretarial Audit observations explained in the Board's report.

Other Material Updates

• Rights issue completed; aggregate proceeds ₹30.02 crore.
• Equity shares allotted on conversion of convertible warrants.
• CARE Ratings reaffirmed BBB with Positive outlook.
• Annual report and AGM notice taken as read.

Related Party Transactions

• No material related party transactions approved.

Baid Finserv Limited — Trading Window will be closed from October 01, 2026 till the end of 48 hours after the declaration of Unaudited Financial Results for the quarter and half year ended on September 30, 2026 for the Designated Persons of the Company and their relatives.

Warrant conversion and promoter allotments

• Warrants issued on private placement: 12,006,831 converted into equal equity shares.
• Issue price Rs 15.10 per warrant, including Rs 13.10 premium; face value Rs 2.
• 75% upfront consideration received totaling Rs 8,15,86,421; board approved 72,04,099 promoter shares.
• Board to allot promoter shares upon receipt of remaining 75% of the issue price.
• March 12, 2026: 48,02,732 promoter shares allotted on conversion rights.
• Total equity shares issued on conversion: 1,20,06,831; no warrants outstanding.
• Independent Auditor ABSM & Associates certifies ICDR Regulation 169(5) compliance and records maintained.
• Certificate dated August 26, 2026; submission to NSE and BSE.
• Earlier promoter group: Dream Realmart Pvt Ltd and Niranjana Properties Pvt Ltd received 48,02,732 shares on March 12, 2026.
• All warrants have been fully converted; no warrants remain outstanding.

Key transaction details

• Target Company: Baid Finserv Limited.
• Disclosing Party: Promoter Group of Baid Finserv Limited.
• Acquirers/PAC: Panna Lal Baid; Aman Baid; Aditya Baid; Alpana Baid.
• Acquirer PACs: Mahendra Baid; Rakesh Baid; Meena Baid; Panna Lal Baid & Sons HUF.
• Acquirer PACs: Carewell Builders Private Limited; Dream Realmart Private Limited.
• Acquirer PACs: Tradeswift Developers Private Limited; Niranjana Properties Private Limited.
• Acquirer PACs: Ganpati Holdings Ltd.; Tradeswift Broking Private Limited.
• Acquirer PACs: Dream Prime Developers Pvt Ltd; Tradeswift Commodities Pvt Ltd.
• Transaction Type: Acquisition via conversion of warrants into equity shares.
• Mode/Date: Preferential Allotment; Aug 26, 2026.
• Pre-Transaction: 7,33,99,736 voting rights (47.39%), 45.28% diluted.
• Transaction Details: 72,04,099 shares acquired (4.44%).
• Post-Transaction Holding: 8,06,03,835 voting rights (49.73%).
• Date of Transaction: August 26, 2026.
• Share Capital Context: Pre-acquisition 15,48,88,107 shares; Post-acquisition 16,20,92,206 shares.
• Total diluted post-acquisition: Rs 32,41,84,412.
• Note: Warrants converted into 1,20,06,831 equity shares; no warrants remain.