PAE Ltd. Enters Loan Agreement with Director, Convertible to Equity
PAE Ltd. announced on March 24, 2026, that it has entered into a loan agreement with Non-Executive Director Mr. Jatinbhai Ramanbhai Patel. The agreement, dated March 23, 2026, involves an unsecured loan of Rs. 100,00,00,000 (Rupees One Hundred Crores) which is convertible into equity shares at a later date. The board of directors approved the agreement on February 6, 2026, and shareholders approved it at the Annual General Meeting held on March 7, 2026.Mr. Patel holds 50,000 shares representing Rs. 500,000 (Rupees Five Lakhs) in the company, equating to a 5.00% stake in the equity share capital. The loan will be disbursed in tranches via banking channels.
The transaction qualifies as a related party transaction under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as it is not at arm's length due to the interest-free nature of the loan.
Loan Agreement Details:
| S. No | Particulars | Details |
|---|---|---|
| 1 | Names of the Parties to the agreements | PAE Limited (Borrower) and Mr. Jatinbhai Ramanbhai Patel (Lender) |
| 2. | Purpose of entering into the agreement | Borrow unsecured loan convertible into equity shares. |
| 3. | Size of the Agreement/Amount | Rs. 100,00,00,000.00 |
| 3A. | Date of Receipt of Funds | Disbursed in tranches via banking channels. |
| 4. | Shareholding in the entity with whom the agreement is executed | 50,000 shares representing Rs. 500,000 |
| 6. | Whether, the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship | Mr. Patel is a Promoter and Director holding 5.00% of the equity share capital of the company. |
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