Majestic Auto settles SHPL resolution dispute with ARC, signs securities deal

Consent Order AcceptedCourt Stay ObtainedRegulatory & Legal View source PDF

MAJESAUT · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+2.5%1-day move

₹389.00

prior close

₹392.80

base price

After-mkt

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+0.6+0.2+0.1—+2.5+9.5+11.3+10.5+10.8+10.5————

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AI summary

Majestic Auto signed a Consent and Settlement Agreement with ARC (which took over SHPL debt from Axis Bank) to implement the SHPL Resolution Plan. Total value about Rs 105.4 crore (Rs 81.84 crore plan amount plus Rs 23.59 crore interest), subject to Supreme Court approval. Also entered a securities purchase deal with NovumLake and 360 ONE funds. No special rights or related party concerns.

Likely market impact

Clears a major hurdle in SHPL resolution plan. Removes lender uncertainty. Implementation still awaits Supreme Court order.