Praveg Ltd Enters Supplemental Loan Agreement for Debt Repayment
Praveg Ltd has executed a Supplemental Agreement with Jhaveri Credits and Capital Limited, a promoter group entity, to amend an existing Loan Agreement dated May 7, 2025. The amendment provides a framework for repaying outstanding loan principal and accrued interest through the issuance of equity shares, convertible warrants, or other securities. This is subject to compliance with applicable laws and obtaining necessary corporate, regulatory, and statutory approvals. The company clarified that this agreement does not constitute an approval for any securities issuance, which will only proceed after requisite approvals are obtained. The Board of Directors meeting to discuss this concluded on July 13, 2026.
Key Highlights
- Supplemental agreement signed with promoter group entity Jhaveri Credits and Capital Limited.
- Loan repayment can be made via issuance of equity shares or warrants.
- Repayment is contingent on legal and regulatory approvals.
- Agreement itself does not constitute issuance approval.
- Transaction is considered a related party transaction.
Price Impact
More from PRAVEG