Glottis Ltd Grants Inter-corporate Loan up to Rs 5 Crore to Texas Subsidiary Glottis Inc
Glottis Limited has extended an inter-corporate loan facility to its foreign wholly owned subsidiary, Glottis Inc, located in Texas. The transaction was approved by the Board of Directors on July 03, 2026, and involves a loan agreement for up to Rs 5.00 Crore (or equivalent USD).The purpose of the inter-corporate loan is to meet working capital requirements for Glottis Inc. As per the agreement signed on July 03, 2026, Glottis Limited, acting as the lender, has provided the financing to its subsidiary.
Key details regarding the loan arrangement between the parent company and the wholly owned subsidiary have been established as follows:
| Detail | Particulars |
|---|---|
| Lender | Glottis Limited (Company) |
| Borrower | Glottis Inc |
| Loan Amount | Up to Rs 5.00 Crore |
| Nature of Loan | Inter Corporate Loan |
| Date of Agreement | July 03, 2026 |
| Security Provided | NIL (Unsecured) |
| Repayment Period | Within five years from the date of disbursement |
Glottis Inc is wholly owned by Glottis Limited. The transaction has been executed at arm's length basis. No collateral or security was provided for the loan, which is designed to support the subsidiary's working capital needs.
GLOTTIS Stock Price Movement
Today, Glottis Limited shares edged higher to settle at ₹67.00 after gaining 0.25%. The stock recorded a traded volume of 50,897 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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