Nuvama Wealth Management Limited announced the approval of its unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. The Board also approved the re-appointment of two independent directors, Mr. Birendra Kumar and Ms. Anisha Motwani, for a second term. Additionally, the company plans to raise funds up to ₹500 Crores through Non-convertible Debentures and acquire an additional 26% stake in Pickright Technologies, making it a wholly owned subsidiary. An investment of up to ₹100 Crores in Nuvama Asset Management Limited was also approved.
Financial Results and Board Decisions
Nuvama Wealth Management Limited has officially announced the outcome of its Board of Directors meeting held on July 30, 2026. The board considered and approved several key items, including the unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. The company also released its financial results, which are available on the BSE, NSE, and the company’s website.
Director Re-appointments
On the recommendation of the Nomination and Remuneration Committee, the Board approved the re-appointment of Mr. Birendra Kumar as an Independent Director and Chairperson for a second term of 3 years, effective July 22, 2027. Similarly, Ms. Anisha Motwani was re-appointed as an Independent Director for a second term of 3 years, also effective July 22, 2027. Both re-appointments are subject to the approval of the company’s members.
Fundraising and Investment Plans
In a move to strengthen its financial position, the company will seek member approval for an enabling annual resolution to raise funds amounting to ₹500 Crores through the issuance of Non-convertible Debentures. These debentures can be issued in one or more tranches on a private placement basis. Furthermore, Nuvama Wealth Management plans to acquire an additional equity stake of 26% in Pickright Technologies Private Limited, its subsidiary. Post-acquisition, Pickright will become a wholly owned subsidiary.
Investment in Asset Management Subsidiary
The Board also approved an investment of up to ₹100 Crores, in one or more tranches, through the subscription of equity shares in Nuvama Asset Management Limited, a wholly owned subsidiary. This strategic investment aims to further bolster the capabilities and growth of its asset management arm.
Source: BSE
