NSEChange in Director(s)27 Aug 2026 · 27 Aug 2026, 09:10 pm
Change in Director(s)
IndusInd Bank Limited · INDUSINDBK
✦ AI SummaryMgmt Change
IndusInd Bank Limited has informed the Exchange regarding the appointment of three new directors: Ms. Mini Ipe, Mr. Ganesh Sankaran, and Mr. Jagdeep Mallareddy. The appointments were approved by the shareholders at the 32nd Annual General Meeting held on August 27, 2026. The directors will serve for a period of 4 and 3 consecutive years, respectively.
Analysis Scores
Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk1/10
Liquidity Impact8/10
Market Sentiment5/10
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Indusind Bank Limited has informed the Exchange regarding Change in Director(s) of the company.
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INDUSINDBK1_27082026210959_SE_Appointment_of_Directors.pdf
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August 27, 2026
National Stock Exchange of India Limited (Symbol: INDUSINDBK)
BSE Limited (Scrip Code: 532187)
Luxembourg Stock Exchange
Madam / Dear Sir,
Sub.: Appointment of Directors
Ref.: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015
In furtherance of our letters dated August 3, 2026 and August 4, 2026, we wish to inform that the
Shareholders of IndusInd Bank Limited (“Bank”), at the 32nd Annual General Meeting (“AGM”) held on
August 27, 2026, have approved the appointment of the following Directors:
1. Ms. Mini Ipe (DIN: 07791184) as the Non-Executive Independent Director of the Bank for a period of
4 (four) consecutive years, with effect from August 3, 2026 upto August 2, 2030 (both days
inclusive).
2. Mr. Ganesh Sankaran (DIN: 07580955) as the Whole-time Director of the Bank, designated as
‘Executive Director (Whole-time Director)’ and Key Managerial Personnel of the Bank, for a period
of 3 (three) consecutive years, with effect from August 4, 2026 upto August 3, 2029 (both days
inclusive).
3. Mr. Jagdeep Mallareddy (DIN: 07492539) as the Whole-time Director of the Bank, designated as
‘Executive Director (Whole-time Director)’ and Key Managerial Personnel of the Bank, for a period
of 3 (three) years, with effect from August 4, 2026 upto August 3, 2029 (both days inclusive).
The details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-
POD2/I/3762/2026 dated January 30, 2026, are enclosed as Annexure I.
Ms. Mini Ipe, Mr. Ganesh Sankaran and Mr. Jagdeep Mallareddy are not debarred from holding the
office of a Director, by virtue of any order passed by SEBI or any other such authority.
This information is also being hosted on the Bank’s website at www.indusind.bank.in.
We request you to take the above information on record.
Thanking you,
Yours faithfully,
For IndusInd Bank Limited
Anand Kumar Das
Company Secretary
Encl.: as above
Solitaire Corporate Park Office: IndusInd Bank Limited, Building No.7, Ground floor, Solitaire Corporate Park,
Andheri –Ghatkopar Link Road, Chakala Andheri (E), Mumbai – 400 093, India, Tel: (022) 66412442
Registered Office: 2401 Gen. Thimmayya Road, Pune 411001, India
Contact us:(020) 2634 3201| Email us: reachus@indusind.com | Visit us:www.indusind.bank.in
CIN: L65191PN1994PLC076333
Page 1 of 3
Annexure I
Disclosure of information pursuant to Regulation 30 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master
Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
SN Particulars Ms. Mini Ipe (DIN:07791184) Mr. Ganesh Sankaran (DIN:07580955) Mr. Jagdeep Mallareddy (DIN:07492539)
1. Reason for change viz. Appointment Appointment Appointment
appointment,
resignation, removal,
death or otherwise
2. Date of August 3, 2026 August 4, 2026 August 4, 2026
appointment/cessation
Terms of appointment For a period of 4 (four) consecutive years, with For a period of 3 (three) consecutive years, with For a period of 3 (three) consecutive years, with
effect from August 3, 2026 upto August 2, 2030 effect from August 4, 2026 upto August 3, 2029 effect from August 4, 2026 upto August 3, 2029
(both days inclusive). (both days inclusive). (both days inclusive).
3. Brief Profile Ms. Mini Ipe, former Managing Director of Life Mr. Ganesh Sankaran is a seasoned banking Mr. Jagdeep Mallareddy has over three decades
Insurance Corporation of India (LIC), brings leader with over three decades of experience of experience in the financial services sector,
over 37 years of distinguished leadership across Wholesale, Retail Credit and SME. He with exposure across retail banking, lending,
experience across the insurance, banking, and has held senior leadership positions at leading credit, operations, and risk management.
financial services sectors. During her illustrious private sector Banks, playing a pivotal role in
career with LIC, she held several key positions building businesses, driving largescale business Mr. Jagdeep Mallareddy holds a Master of
across investment management, claims, finance transformations, and delivering consistent Business Administration from Andhra
and accounts, personnel administration, pension performance. His career reflects depth in University and a Bachelor of Commerce
and group schemes, policy servicing, and relationship management, credit and risk, (Honours) from Osmania University.
regulatory compliance. She also served as Chief product expertise, and board-level exposure.
Executive Officer of LICHFL Financial Prior to joining IndusInd Bank Limited, he was
Services Limited, a subsidiary of LIC Housing Prior to joining IndusInd Bank, his major associated with Piramal Finance Limited as
Finance Limited. banking career spans across Axis Bank, Federal Chief Executive Officer- Retail Lending.
Bank and HDFC Bank. Earlier, he was associated with Axis Bank
Ms. Ipe possesses significant exposure to the Limited, where he held senior leadership roles
banking sector, having served for Mr. Ganesh Sankaran had also served on the including Head – Retail Lending. His previous
approximately six years on the Boards of boards of Axis Capital, Equirus Capital, and experience also includes associations with
Central Bank of India and Axis Bank Limited, Fedbank Financial Services. He also acted as ICICI Prudential Life Insurance Company
Solitaire Corporate Park Office: IndusInd Bank Limited, Building No.7, Ground floor, Solitaire Corporate Park,
Andheri –Ghatkopar Link Road, Chakala Andheri (E), Mumbai – 400 093, India, Tel: (022) 66412442
Registered Office: 2401 Gen. Thimmayya Road, Pune 411001, India
Contact us:(020) 2634 3201| Email us: reachus@indusind.com | Visit us:www.indusind.bank.in
CIN: L65191PN1994PLC076333
Page 2 of 3
SN Particulars Ms. Mini Ipe (DIN:07791184) Mr. Ganesh Sankaran (DIN:07580955) Mr. Jagdeep Mallareddy (DIN:07492539)
where she contributed to governance, risk Executive Director & Board Member at Federal Limited, HDFC Bank Limited, Kotak Mahindra
oversight, and strategic decision-making. Her Bank. Prime Limited, Cholamandalam Investment and
extensive experience spans a broad spectrum of Finance Company Limited, and Bajaj Auto
financial services and Board-level leadership Finance Limited.
roles.
She served as Zonal Manager (In-Charge) of
LIC’s South Central Zone, Hyderabad, and
holds the distinction of being the first woman
appointed as Zonal Manager (In-Charge) in
LIC. In recognition of her contributions to the
financial sector, she was named among “India’s
Top 100 Women in Finance” by the Association
of International Wealth Management of India.
Ms. Ipe currently serves on the Boards of PTC
India Limited and PTC Financial Services
Limited, further strengthening her credentials in
the financial and corporate governance domain.
She holds a Master’s degree in Commerce and
has built a distinguished career marked by
extensive experience in insurance, banking,
financial services, investments, corporate
governance, and regulatory compliance,
acquired through executive and Board-level
roles across leading financial institutions.
4. Disclosure of None None None
relationship between
Directors inter se
Solitaire Corporate Park Office: IndusInd Bank Limited, Building No.7, Ground floor, Solitaire Corporate Park,
Andheri –Ghatkopar Link Road, Chakala Andheri (E), Mumbai – 400 093, India, Tel: (022) 66412442
Registered Office: 2401 Gen. Thimmayya Road, Pune 411001, India
Contact us:(020) 2634 3201| Email us: reachus@indusind.com | Visit us:www.indusind.bank.in
CIN: L65191PN1994PLC076333
Page 3 of 3