Corrigendum to the Notice of Postal Ballot dated 27th October, 2025 of Thacker and Company Limited issued to its members, is enclosed.
THACKER · price
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Thacker & Company has issued a corrigendum to its Postal Ballot Notice dated 27 October 2025, adding SEBI-mandated disclosures for a proposed Material Related Party Transaction worth Rs. 2,000 Lakhs (Rs. 20 crore) with Biodegradable Products India Limited, a promoter group entity. The transaction is an Inter-Corporate Deposit (ICD) arrangement at an interest rate of 7–9% p.a., repayable on demand and unsecured, funded from internal accruals. The transaction size is approximately 652% of Thacker's own consolidated FY25 turnover, making it highly material. The related party had a turnover of just Rs. 0.25 Lakhs, a loss of Rs. 422.80 Lakhs, and a negative net worth of Rs. 4,104 Lakhs in FY25, though it holds ~25 acres of land near Hinjewadi, Pune with future development potential. E-voting for the Postal Ballot runs from 31 October to 29 November 2025.
Shareholders are being asked to approve a very large loan (over 6.5x the company's turnover) to a loss-making promoter group company, which carries significant concentration risk but is justified by potential value of the underlying Pune landholding. The corrigendum itself does not change the transaction – it only adds required disclosures – so it should not materially alter shareholder sentiment, though investors should weigh the related party's weak financials against the land asset.