SBFC's co-founder CFO steps down; internal successor named
Narayan Barasia resigns effective July 15, 2026. Sanket Agrawal, the current Chief Strategy Officer, takes over a day later.
What's new
- CFO Narayan Barasia resigns effective July 2026 to pursue an entrepreneurial venture.
- Sanket Agrawal, Chief Strategy Officer, appointed as new CFO from July 16, 2026.
- Barasia was a co-founder and central to scaling the NBFC over seven years.
Why this matters
A co-founder CFO leaving suddenly raises questions about management stability, especially with recent borrowing limit expansion and NCD fundraising in play. The internal hire mitigates execution risk, but the timing is sensitive.
What we're watching
- Any further senior departures in the coming quarters.
- Clarity on Barasia's transition and any non-compete or advisory role.
- How the market prices the leadership change in a ~₹10,057 cr market-cap NBFC.
The full read
SBFC Finance's co-founder and CFO Narayan Barasia is stepping down after over seven years to start his own venture. He was central to the NBFC's growth story. The board acted fast, appointing Sanket Agrawal, the current Chief Strategy Officer and a former Deloitte auditor, effective the next day. The timing isn't ideal: SBFC recently expanded its borrowing limits and raised NCDs. A sudden co-founder exit, even with an internal replacement, puts management stability under the lens. Investors now look for any further departures and will gauge if the transition is truly orderly — or a sign of deeper churn.
Questions answered
- Why is Narayan Barasia leaving SBFC Finance?
- Barasia resigned to pursue an entrepreneurial venture. He did not cite any dispute or disagreement with the board.
- Who is the new CFO and what is his background?
- Sanket Agrawal, a chartered accountant and former Deloitte auditor, has been with SBFC since 2020 as Chief Strategy Officer and head of investor relations. He will take over as CFO on July 16, 2026.
- Does this affect the company's borrowing plans or recent NCD fundraising?
- There is no immediate impact stated. Agrawal was involved in strategic planning and digital transformation, so continuity in financial oversight is expected.
- Is there a risk of further leadership instability?
- The sudden departure of a co-founder is notable, but a qualified internal successor suggests an orderly transition. No other departures have been announced.