Board approves up to Rs 100 crore promoter loan for shareholder vote
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The board approved an unsecured loan of up to Rs 100 crore from promoter and Managing Director Sachidanand Upadhyay, with an option to convert it into fully paid equity shares. The interest rate, repayment period and conversion price still require shareholder approval. Remote voting runs from October 27 to November 25, 2026, with results due by November 27. Trading stays closed until 48 hours after the September quarter results are released.
Promoter funding supports the company. Conversion into shares may dilute existing holders; the final stake and terms depend on shareholder approval.