Majestic Auto Completes ₹105.4 Cr SHPL Resolution Plan Funding

Majestic Auto Ltd has announced the full infusion of ₹1,05,42,80,536 towards the Resolution Plan for Sharan Hospitality Private Limited (SHPL). This includes ₹76,14,80,536 for subscription to SHPL securities and ₹29,28,00,000 as an Inter-Corporate Deposit. Following the allotment of 35,80,536 Non-Convertible Debentures and the disbursement of the ICD, Majestic Auto has completed the entire funding. The company has also completed the corporate action for 5,00,000 Equity Shares, making SHPL a wholly-owned subsidiary. The remaining NCDs and proposed Bonus Redeemable Preference Shares will be transferred to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund upon completion.