Heranba Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on April 27, 2026.
HERANBA · price
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Heranba Industries' board has approved converting Rs 450 crore of Inter-Corporate Deposits (ICDs) given to its wholly owned subsidiary Heranba Organics Private Limited (HOPL) into Optionally Fully Convertible Debentures (OFCDs). The OFCDs will be issued by HOPL to the parent company on a private placement basis with a 10-year tenure and 1% annual interest rate. The debentures are optionally convertible into equity shares of HOPL. The company states this is a restructuring of existing inter-company funding, undertaken in the ordinary course of business and at arm's length basis.
This is an internal group restructuring that simplifies inter-company finances by converting loans into debentures. It does not directly impact minority shareholders as it involves only a wholly owned subsidiary and is stated to be at arm's length.