Nuvama Board Approves Q1 FY27 Results, Director Re-appointments, Fund Raising, and Acquisitions
Nuvama Wealth Management approved Q1 FY27 results with ₹254.70 Cr standalone net profit. Mr. Birendra Kumar and Ms. Anisha Motwani were re-appointed as Independent Directors. The company will raise up to ₹500 Cr via NCDs and acquire 26% more in Pickright Technologies, making it wholly-owned. An investment of up to ₹100 Cr is planned in NAML.
The approvals for fundraising, full acquisition of a subsidiary, and substantial investment in another subsidiary, alongside director re-appointments, are strategic moves that will significantly impact the company's future operations and financial structure.
The company reported positive financial results, approved strategic re-appointments, planned significant fundraising, and made acquisitions to strengthen its subsidiaries, all indicating positive business momentum.
Nuvama Wealth Management Limited announced the outcome of its Board Meeting held on July 30, 2026. The Board approved the unaudited Consolidated and Standalone Financial Results for the quarter ended June 30, 2026.
Key decisions included the re-appointment of Mr. Birendra Kumar as Independent Director and Chairperson for a second 3-year term, effective July 22, 2027. Similarly, Ms. Anisha Motwani was re-appointed as an Independent Director for a second 3-year term, also effective July 22, 2027, both subject to shareholder approval.
The Board also approved an enabling annual resolution for raising funds up to ₹500 Crores through Non-convertible Debentures via private placement. Furthermore, the company will acquire an additional 26% stake in its subsidiary, Pickright Technologies Private Limited, making it a wholly-owned subsidiary. An investment of up to ₹100 Crores is also planned in Nuvama Asset Management Limited (NAML), a wholly-owned subsidiary.
The financial results for the quarter ended June 30, 2026, showed a Net Profit After Tax of ₹254.70 Crores on a standalone basis. The Board meeting commenced at 3:00 p.m. and concluded at 6:30 p.m.
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