Allied Digital Services Ltd. Converts Loan to Equity in Subsidiary
Allied Digital Services Ltd. announced on March 26, 2026, that its wholly owned overseas subsidiary, Allied Digital Inc., has converted a loan into equity. The conversion, finalized on March 25, 2026, involved the issuance of 6,868 equity shares to the parent company at a price of USD 1,877.99 per share, with a face value of USD 10, resulting in a total consideration of USD 12.89 million.The transaction was executed via a Loan Conversion Agreement and represents a squaring off of the entire outstanding loan extended by Allied Digital Services Ltd. to Allied Digital Inc. Allied Digital Inc. is engaged in making investments in other corporates or entities. Currently, Allied Digital Inc. does not have any business operations. The acquisition was completed on an arm’s length basis.
The conversion is expected to be finalized by March 31, 2026. The Company currently holds 100% equity shares in its wholly owned subsidiary company, and there will be no change in the shareholding percentage as a result of this transaction.
| Particulars | Details |
|---|---|
| Name of subsidiary company | Allied Digital Inc |
| Size/Turnover | Nil |
| Consideration | 6,868 Equity Shares at USD 1,877.99 per share (FV of USD 10) aggregating to USD 12.89 million |
| Completion Date | March 31, 2026 |
| Shareholding Percentage | No change |
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