Optiemus Approves ₹50 Crore Loan to Subsidiary GDN

Key Quantitative Figures

• Total loan amount approved: ₹50,00,00,000 (Rupees Fifty Crore Only)
• Loan tenure: 3 years
• Interest rate: 8.50% per annum or such other rate as per the Benchmark of State Bank of India
• Existing loan outstanding to the same subsidiary: ₹100 Crore

Parties Involved

• Lender: Optiemus Infracom Limited
• Borrower: GDN Enterprises Private Limited (a Wholly Owned Subsidiary of Optiemus Infracom Limited)

Purpose or Rationale

The purpose of the loan is to provide financial assistance to GDN Enterprises Private Limited to support its business operations and meet its working capital requirement.

Significant Terms of the Agreement

• The loan is unsecured.
• The amount of up to ₹50 Crore can be disbursed in one or more tranches based on the borrower's fund requirements.
• GDN Enterprises Private Limited is a Wholly Owned Subsidiary, therefore the agreement does not contain any special rights pertaining to appointment of directors, first right to share subscription, or right to restrict any change in capital structure.
• No security has been provided by the borrower.

Relationship between Parties

• GDN Enterprises Private Limited is a Wholly Owned Subsidiary of Optiemus Infracom Limited.
• Mr. Ashok Gupta and Mr. Neetesh Gupta are common directors in both the Company and GDN.
• The transaction falls under the ambit of Related Party transactions.

Transaction Basis

The transaction will be carried out on an Arm's Length basis.

Existing Exposure

As of the date of the disclosure, an amount of ₹100 Crore is outstanding under an existing loan from Optiemus Infracom Limited to GDN Enterprises Private Limited.