SP Capital Financing Ltd Board Approves Major Related Party Transaction and Increased Borrowing Limit
SP Capital Financing Ltd's Board of Directors has approved key corporate actions following a meeting held on July 03, 2026. The decisions include sanctioning a Material Related Party Transaction (MRPT) with Pride Hotels Limited and enhancing the company’s borrowing powers.The Board approved entering into an MRPT with Pride Hotels Limited for an aggregate amount not exceeding ₹ 95,00,00,000 (Rupees Ninety-Five Crore only). This transaction remains subject to the approval of the Company's shareholders through a Postal Ballot and any other requisite approvals.
In addition to the related party transaction, the company’s Board also approved an increase in borrowing powers under Section 180(1)(c) of the Companies Act, 2013. The enhanced limit authorizes the Board to borrow monies from time to time, up to an aggregate outstanding amount not exceeding ₹ 200,00,00,000 (Rupees Two Hundred Crore only). This borrowing power increase is also contingent upon shareholder approval.
To facilitate these special business matters, the Board has approved a draft Postal Ballot Notice and Explanatory Statement intended for seeking shareholder approval of the aforementioned transactions. Furthermore, the Board fixed July 03, 2026, as the cut-off date for determining the eligibility of shareholders entitled to vote through remote e-voting.
Stock Price Movement
As of 13:23, SP Capital Financing Ltd. is ticking down, trading at ₹52.98 after a 1.49% drop. The shares have moved within their intraday range, testing lows near ₹52.20 and highs up to ₹53.00.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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