Marine Electricals (India) Limited has informed the Exchange about Memorandum of Understanding/Agreements
MARINE · price
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Marine Electricals (India) Limited will provide a loan of up to Rs. 5.5 crore to its 91.74%-owned subsidiary Evigo Charge Private Limited, in one or more tranches. The loan is convertible into equity at a future date at mutually agreed terms and price. The purpose is to meet the working capital needs of the subsidiary. The General Purpose Committee approved the loan on January 12, 2026, and the transaction is being done at arm's length. No security has been provided for the loan.
This is an internal capital infusion to an existing subsidiary and is unlikely to materially impact Marine Electricals' standalone financials. If converted to equity later, it could marginally increase the parent's stake in Evigo Charge but is not expected to affect the listed entity's share price significantly.