RMC Switchgears Pledges 51% IHSPL Stake for Loan

RMC Switchgears Limited

Pledge Agreement Execution and Investment Approval

Main Body

The Board of Directors of RMC Switchgears Limited, in its meeting held on August 27, 2026 (commencing at 9:30 AM and concluding at 10:10 AM), approved two significant corporate actions:

1. Pledge Agreement Execution:

• The company approved execution of a Pledge Agreement with CTL Trusteeship Limited (Security Trustee) regarding pledging of 51% of shares held by RMC Switchgears Limited in its associate company, Intelligent Hydel Solutions Private Limited (IHSPL).
• Parties Involved: RMC Switchgears Limited (Pledger), Aseem Infrastructure Finance Limited (Lender), CTL Trusteeship Limited (Security Trustee), and Intelligent Hydel Solutions Private Limited (Borrower).
• Purpose: To provide security for and secure the due and timely repayment and discharge of the financial obligations of IHSPL under the Facility Agreement and other Financing Documents, pursuant to the financing facility granted by Aseem Infrastructure Finance Limited.
• Date of Execution: August 27, 2026
• Security Provided: 51% shareholding of RMC Switchgears Limited in Intelligent Hydel Solutions Private Limited pledged in favor of CTL Trusteeship Limited as Security Trustee.
• Relationship: Intelligent Hydel Solutions Private Limited is an associate of RMC Switchgears Limited. CTL Trusteeship Limited is not related to the promoter/promoter group/group companies of RMC Switchgears Limited.
• Shareholding Structure: RMC holds 51% in IHSPL, while Saatvik Cleantech EPC Private Limited holds 49% shareholding in IHSPL.
• Related Party Transaction: The transaction does not fall within the ambit of related party transactions as per the provisions of the Companies Act, 2013 and SEBI LODR Regulations.

2. Investment Approval:

• The Board of Directors approved the proposed investment in RMC NextGen Systems LLP, pursuant to which the Company shall hold a 51% stake in the LLP, making it a majority-owned entity.