Company Disclosures: Investment Redemption in Subsidiary
Transaction Details
The Company, acting as Investor, has redeemed its investment in Optionally Convertible Debentures (OCDs) issued by its wholly owned subsidiary Square Port Shipyard Private Limited (SPSPL).
Financial Details
- Investment Instrument: 0.01% Optionally Convertible Debentures (OCDs)
- Total Redemption Amount: ₹25 Crores
- Payment Status: Full and final payment received
- Redemption executed pursuant to mutual agreement between Company and subsidiary
Impact Assessment
- Company's investment in the OCDs stands extinguished
- No equity shares were allotted pursuant to the OCDs
- No change in the shareholding of Company in the wholly owned subsidiary
- Subsidiary continues to remain wholly owned by Hazoor Multi Projects Limited
- Redemption does not have any material adverse impact on the operations or financial position of the Company