NCL Research Plans Expansion into Retail Lending; Board to Consider New Business Verticals

• Digital personal loans
• Salary-based personal loans
• Loans for self-employed professionals
• Consumer finance solutions
• Other permissible retail lending products, subject to board approval

The board will also consider making necessary amendments to the company’s Memorandum of Association (MoA), if required, to facilitate the proposed expansion.

The notice has been issued in compliance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which governs prior disclosure of board meetings involving material corporate decisions.

If approved, the move would mark a strategic expansion for NCL Research & Financial Services Limited as it seeks to strengthen its presence in India’s growing retail credit market. The planned focus on digital and consumer lending reflects increasing demand for technology-driven financing solutions across salaried individuals, professionals, and retail borrowers.

No financial projections, launch timelines, or implementation details were disclosed in the filing. The final outcome will depend on the decisions taken by the Board during its meeting scheduled for July 29, 2026.

The notice was signed by Goutam Bose, Managing Director of NCL Research & Financial Services Limited.