Sharp India executes ₹145.34 Cr debt assignment agreements
Sharp India Limited's Board approved the execution of three debt assignment agreements. The company's total debt of ₹145.34 Cr was assigned to new parties for a total consideration of ₹9.12 Cr. The first agreement involved Sharp Corporation, Japan (promoter) assigning ₹15.84 Cr External Commercial Borrowing to Unbounded Opportunities Fund SPC for ₹1.00 Cr. The second and third agreements saw Sharp Business Systems (India) Private Limited and Sharp Software Development India Private Limited (fellow subsidiaries) assign ₹126.65 Cr and ₹2.85 Cr of Sharp India's debt, respectively, to Kripa Anand Rishi Cellular Private Limited for ₹7.94 Cr and ₹0.18 Cr. All assignments were made on an "AS IS WHERE IS AND AS IS WHAT IS BASIS", indicating a significant discount on the debt's face value.
Key Highlights
- Sharp India executed three debt assignment agreements on April 10 and 14, 2026.
- A total debt of ₹145.34 Cr belonging to Sharp India was assigned.
- The assignments were completed for a total consideration of ₹9.12 Cr.
- Promoter Sharp Corporation and two fellow subsidiaries acted as assignors.
- The transactions were on an "AS IS WHERE IS" basis, implying debt restructuring.