Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable
Nature of Filing / Announcement: Outcome of Board Meeting - Loan to Wholly Owned Subsidiary
Date of Board Meeting / Approval: Tuesday, 25th August 2026
Meeting Commencement Time: 4:00 P.M.
Meeting Conclusion Time: 4:25 P.M.
Corporate Actions:
The Board of Directors approved the grant of a loan to Viyom Steel Infra Private Limited, a wholly owned subsidiary of the Company.
Loan Details:
- Lender: Vibhor Steel Tubes Limited
- Borrower: Viyom Steel Infra Private Limited (100% subsidiary)
- Loan Amount: INR 20 Crore
- Interest Rate: 9.5%
- Repayment Terms: Repayable on Demand subject to Maximum Period of 10 years
- Security: Unsecured loan (No security provided)
- Date of Execution: 25th August, 2026
- Outstanding Amount: NIL as on date of disclosure
Purpose of Loan:
The Borrower shall utilize the Facility Amount for:
- Working capital requirements
- Purchase of land to set up commercial manufacturing facility for infrastructure-related manufacturing activities
- Manufacturing of transmission towers, monopoles, crash barriers, octagonal poles, high mast poles, pre-fabricated structures and other allied products
Significant Terms:
- The Agreement does not contain terms pertaining to special rights to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure etc.
- Transaction qualifies as related party transaction but is conducted at arm's length
- No potential conflict of interest arising out of such agreements