The Company has entered into loan agreement with Mr. Jatinbhai Ramanbhai Patel, Non-executive director of the company for conversion of unsecured loan into equity subject to approval of ....
Awaiting price reaction for this filing.
PAE Ltd has signed a loan agreement dated 27-02-2026 with its Non-Executive Director and Promoter Mr. Jatinbhai Ramanbhai Patel to convert an unsecured loan of Rs. 4.80 crores into equity shares. The conversion will be done via preferential allotment of 800,000 equity shares at Rs. 60 per share (face value Rs. 10 + Rs. 50 premium). Mr. Patel originally brought Rs. 5.80 crores in cash as the Successful Resolution Applicant between June and December 2024, of which Rs. 1 crore was already converted into shares in April 2025. The remaining Rs. 4.80 crore is now being treated as quasi-equity and will be formally converted to shares. The transaction is subject to shareholder approval at the upcoming Annual General Meeting.
This conversion will increase the promoter Mr. Patel's shareholding beyond his current 5.00% stake, signalling promoter commitment and confidence in the company. For existing shareholders, it means minor dilution at a price well above face value, and the transaction is exempt from related-party restrictions under SEBI rules as it is a preferential allotment.