Praveg Ltd enters Supplemental Agreement with Promoter Group Entity Regarding Existing Loan
Praveg Ltd has executed a Supplemental Agreement dated July 13, 2026, with Jhaveri Credits and Capital Limited. The agreement concerns an amendment to an existing Loan Agreement originally dated May 7, 2025.The purpose of the Supplemental Agreement is to establish a framework for repaying the outstanding principal amount of the loan, along with any accrued and unpaid interest. Repayment may be conducted in whole or in part through the issuance and allotment of equity shares, convertible warrants, and/or other permissible securities of Praveg Ltd. This process remains subject to compliance with applicable laws and obtaining all necessary corporate, regulatory, and statutory approvals.
Jhaveri Credits and Capital Limited is identified as a promoter group entity of Praveg Ltd. The transaction has been categorized as a related party transaction.
Details regarding the transaction are provided below:
| Particulars | Details |
|---|---|
| Name(s) of counterparties | Jhaveri Credits and Capital Limited |
| Nature of relationship | Lender under the existing Loan Agreement and promoter group entity |
| Purpose of entering into the agreement | Amendment of the existing Loan Agreement dated May 7, 2025 to provide an enabling framework for repayment of outstanding loan and accrued interest through issuance of securities, subject to applicable laws and approvals. |
| Shareholding in the entity | Nil |
| Significant terms of the agreement (in brief) | The Supplement Agreement provides that the outstanding principal amount of loan actually disbursed and remaining unpaid together with accrued and unpaid interest thereon may be repaid through issuance and allotment of equity shares, convertible warrants and/or other permissible securities. |
| Extent and nature of impact on management or control | No, the Supplement Agreement itself does not result in any issuance of securities and does not impact management or control of the Company. |
The company emphasized that the execution of the Supplemental Agreement does not constitute immediate approval for the issuance or allotment of any securities. Any future issuance and allotment must be undertaken only after obtaining all requisite approvals in accordance with relevant statutes and regulations.
PRAVEG Stock Price Movement
Shares of Praveg Limited closed down by 0.45% today, settling at ₹238.15 after trading in the market session. The stock saw a total volume of 17,477 shares traded during the day.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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