Jay Jalaram Technologies Limited enters into Loan Agreement with Wholly Owned Subsidiary
Jay Jalaram Technologies Limited has entered into a significant loan agreement with its wholly owned subsidiary, Techgrind Solutions Private Limited. The transaction is designed to support the primary business activities of the subsidiary and was executed on July 30, 2026.The agreement establishes Jay Jalaram Technologies Limited as the lender and Techgrind Solutions Private Limited as the borrower. This loan is structured as an unsecured loan with a maximum amount not exceeding Rs. 30 Crore.
Key terms of the financing arrangement have been set out in the agreement, which involves a repayment period of five years from the date of execution. The interest rate on the unsecured loan has been fixed at 8.50% per annum. Interest payments are required to be made within 45 days following the end of each calendar quarter.
The transaction is classified as a related party transaction, given that Jay Jalaram Technologies Limited holds 100% equity shares in Techgrind Solutions Private Limited. The agreement specifies that no special rights, such as board appointment rights or restrictions on capital structure change, are associated with the loan.
Details regarding the lending arrangement and its terms are summarized below:
| Aspect | Details |
|---|---|
| Lender | Jay Jalaram Technologies Limited |
| Borrower | Techgrind Solutions Private Limited (Wholly Owned Subsidiary) |
| Nature of Loan | Unsecured Loan |
| Maximum Amount | Not exceeding Rs. 30 Crore (in one or more tranches) |
| Date of Execution | July 30, 2026 |
| Tenure | Five years from the date of first disbursement |
| Interest Rate | 8.50% per annum |
| Security Provided | NIL |
The funds are intended exclusively for the principal business activities of the subsidiary. The agreement stipulates that the borrower must repay the principal amount in full on or before the expiry of five years, unless prepayment occurs earlier.
KORE Stock Price Movement
As of 1:39 PM, Jay Jalaram Technologies Limited sheds value in live trading, dipping by 4.44% or ₹7.90 to stand at ₹170.00.The shares, which traded a volume of 2,000, remain above the day's low of ₹167.5.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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