Spectrum Electrical to Convert Inter-Company Loans to Equity

Spectrum Electrical Industries Ltd's board approved the conversion of a portion of inter-company loans extended to its wholly-owned subsidiary, Spectrum Electrical Technologies Private Limited, into equity shares. The conversion, amounting to ₹2.5 Cr, will be completed within three months from the board approval date. This transaction does not involve any fresh infusion of capital and is exempt from related party transaction provisions under Listing Regulations as it is between a holding company and its wholly-owned subsidiary on an arm’s length basis. The target company manufactures electrical press components, injection moulding plastic components, and provides electroplating services.