S. P. Apparels Limited Enters Unsecured Loan Agreement with Wholly Owned Subsidiary
S.P. Apparels Limited has formalized a loan agreement with its wholly owned subsidiary, S.P. Apparels (UK) (P) Limited. The transaction was structured to provide a specialized financing facility for the business and operations of the British entity.The agreement establishes S. P. Apparels Limited as the Lender, while S.P. Apparels (UK) (P) Limited serves as the Borrower. As the company holds 100% shares in the subsidiary, the transaction constitutes a related party dealing that was affirmed to be conducted at arm's length.
The loan facility is intended for business and operational purposes within the UK entity. The maximum limit set for the agreement amounts up to GBP 4,50,000.
Key terms of the loan agreement include:
| Particular | Details |
|---|---|
| Lender | S.P. Apparels Limited |
| Borrower | S.P. Apparels (UK) (P) Limited |
| Nature of Loan | Unsecured loan |
| Total Amount Granted | Up to GBP 4,50,000 |
| Date of Execution | July 29, 2026 |
| Security Provided | None |
The terms related to the agreement specify that the loan shall be repayable on demand or within three years, whichever comes earlier. The Borrower has committed to paying interest on the Facility Amount at a rate of 7% per annum, payable with annual rests.
There were no specific restrictive terms regarding the appointment of directors or constraints on capital structure noted in the agreement; however, the company holds 100% shareholding in the subsidiary.
SPAL Stock Price Movement
Today, shares of S. P. Apparels Limited rallied, settling at ₹1009 following a strong gain of 2.96%. The stock traded within an intraday range defined by the low of ₹976.1 and high of ₹1021.9, with 84,872 shares transacted 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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.