Grover Jewells Board Approves Increased Borrowing Limits, NCD Issue, and Remuneration Packages
Grover Jewells Limited announced the outcomes of its Board of Directors meeting held on May 05, 2026. The Board approved several material corporate actions, including increasing the company's borrowing threshold, planning a significant raise through the issue of Non-Convertible Debentures, and revising managerial remuneration for key directors.During the meeting, which commenced at 1:45 pm and concluded at 3:15 pm, the Board of Directors recommended and approved the following key resolutions:
Financial and Debt Financing
The company approved increasing its existing borrowing threshold limit. The limit was proposed to increase from Rs. 1,00,00,00,000 (Rupees One Hundred Crore only) to Rs. 5,00,00,00,000 (Rupees Five Hundred Crore only).
Furthermore, the Board approved raising funds by issuing rated, listed, interest bearing Non-Convertible Debentures (NCDs) up to Rs. 2,00,00,00,000 (Rupees Two Hundred Crore). This funding will be structured through a private placement basis, implemented in one or more tranches.
Management and Related Party Transactions
The directors also approved increasing the overall managerial remuneration payable to the Company’s Directors up to Rs. 7,00,00,000 (Rupees Seven Crore only). Specific increases were approved for the managerial remuneration of Managing Director Mr. Deepak Kumar Grover and Executive Director Mr. Lavkesh Kumar Grover.
In terms of related party transactions, the Board sanctioned an agreement with S.S. Bulliions, a proprietorship concern owned by Mr. Lavkesh Kumar Grover. This approval permits the purchase of goods or bullion in the ordinary course of business at arm's length basis, with the transaction amount not exceeding Rs. 50,00,00,000 (Rupees Fifty Crores only).
Governance Matters
The Board also resolved to approve the Postal Ballot Notice for circulation to members regarding these business matters. Additionally, Mr. Avnish Sharma, through M/s Avnish Sharma and Associates, Practicing Company Secretary, was appointed as the Scrutinizer.
Summary of Approved Resolutions
The following table details the key financial and governance matters approved by the Board of Directors:| Matter | Previous Limit / Details | Approved Limit / Details |
|---|---|---|
| Borrowing Threshold Limit | Rs. 1,00,00,00,000 (One Hundred Crore) | Rs. 5,00,00,00,000 (Five Hundred Crore) |
| Fund Raising (NCDs) | N/A | Up to Rs. 2,00,00,00,000 (Two Hundred Crore) |
| Overall Managerial Remuneration | N/A | Up to Rs. 7,00,00,000 (Seven Crore) |
| Related Party Transaction Limit | N/A | Not exceeding Rs. 50,00,00,000 (Fifty Crores) |
GJL Stock Price Movement
Today, Grover Jewells Limited shares closed at ₹157, effectively holding steady with zero change for the session. The stock settled at this level, reflecting a stable close after trading concluded today.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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