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

Consent order acceptedRegulatory & Legal View source PDF Explain this filing

MAJESAUT · price

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Price reactionminutes from the announcement price · days from the prior close

+2.0%Reaction day

₹389.00

prior close

₹392.80

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%+2.5% vs market

Diversified Commercial Services peers, median of 75sector-0.0%+2.0% vs sector

On the reaction day the stock moved 2.5 pts more than Nifty Microcap 250 and 2.0 pts more than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Diversified Commercial Services peers, median of 75Pending

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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.