Board approves Rs 200 Cr borrowing limit, Rs 100 Cr NCD issue and director changes
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board met on July 9, 2026 and approved raising its borrowing limit to about Rs 200 Crores, creation of charges on company assets to secure these borrowings, and issuance of Secured Redeemable Non-Convertible Debentures worth up to Rs 100 Crores via private placement (unlisted) in one or more tranches for lending, refinancing and general purposes. Also approved adoption of a new Memorandum and Articles of Association and regularisation of two Non-Executive Directors (Akhil Mittal and Pratika Sharma) plus confirmation of Rohan Mehrotra as Independent Director for five years. All key items including the debt raising require shareholder approval by special resolution through postal ballot.
Company is gearing up to raise up to Rs 200 Cr in debt for growth and refinancing, pending shareholder approval. Signals expansion plans but also higher leverage.