Date: November 11, 2026
Board Meeting Outcomes
The Board of Directors of Glottis Limited, at its meeting held on Wednesday, November 11, 2026, approved the proposal for availing unsecured, interest-free loans from the Managing Directors of the Company up to an aggregate amount of ₹60.00 Crores.
Fundraising / Financing
Loan Details:
- Total Loan Amount: ₹60.00 Crores
- Lender 1: Mr. Kuttappan Manikandan, Managing Director - ₹30.00 Crores
- Lender 2: Mr. Ramkumar Senthilvel, Managing Director - ₹30.00 Crores
- Nature: Unsecured, interest-free loans
- Purpose: To meet Long-Term and Short-Term working capital requirements and general business operations of the Company
- Disbursement: To be availed in one or more tranches as required by the Company
Significant Terms:
- Tenure: Up to 5 years from each disbursement of the tranches of loan
- Repayment Schedule: Up to 5 years from the date of disbursement of each tranche of loan
- Extension/Prepayment: The tenure can be extended or prepaid subject to mutual agreement by the parties with no additional charges
Related Party Transactions
The transaction falls within the purview of a Related Party Transaction (RPT) in terms of the proviso to Regulation 2(1)(zc) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction is not at arm's length, considering that the loan is extended on an interest-free basis.
Promoter/Director Shareholding:
- Mr. Kuttappan Manikandan: 3,38,94,180 shares of ₹2 each aggregating to ₹67,77,88,360 (36.68% of equity share capital)
- Mr. Ramkumar Senthilvel: 3,38,94,180 shares of ₹2 each aggregating to ₹67,77,88,360 (36.68% of equity share capital)
Both lenders are Promoters and Managing Directors of the Company.
Compliance Disclosure
The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
The actual amounts drawn and other relevant particulars shall be disclosed wherever applicable in accordance with the applicable provisions of the SEBI Listing Regulations.