Ind-Swift Laboratories to Invest Up to INR 95 Crore in Khandelwal Finance Private Ltd

Ind-Swift Laboratories Ltd, a pharmaceutical company, has approved an investment of up to INR 95 Crores in Optionally Convertible Redeemable Preference Shares (OCRPS) of M/s. Khandelwal Finance Private Ltd (KFPL), a registered NBFC and a group company of SAI Group, Kolkata. The investment will be made in one or more tranches, with a dividend rate of 8.25% p.a. non-cumulative, a tenor of 5 years, and a lock-in of 2 years. The OCRPS will be redeemable at the issue price or fair market value, whichever is higher, or convertible into equity shares of KFPL after the expiration of the Lock-in Period.