Board approves NCDs worth Rs 99.19 cr for 62% stake in Tikona Infinet
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Grand Foundry's board approved issuing secured unlisted NCDs worth up to Rs 99.19 crores to acquire 62.01% stake in Tikona Infinet Private Limited. Total deal value is Rs 99.22 crores, paid via Rs 86.80 cr in 36-month NCDs at 1% coupon, Rs 12.39 cr in 12-month NCDs at 6% coupon, and Rs 3 lakh cash. NCDs are secured by SAR Televenture Limited assets. SPA was signed on September 12, 2026. Convertible warrants issue via preferential allotment deferred.
Material acquisition funded largely through debt; deferred warrant issue may delay capital raise. Shareholder approval needed for related party aspects.