Thinkink Picturez Ltd Board Approves Raising Funds via Foreign Currency Convertible Bonds
Thinkink Picturez Ltd announced several corporate actions approved by its Board of Directors during a meeting held on Friday, April 10, 2026. The Board meeting commenced at 05:00 P.M. and concluded at 05:30 P.M. at the company's registered office.The board approved the plan to raise funds through the issuance of Foreign Currency Convertible Bonds (FCCBs). The total quantum for this issuance is up to and not exceeding USD 700 Million (US Dollars Seven Hundred Million Only), or its equivalent in Indian rupees or any other currency. This funding is proposed to be structured through one or more private placements, contingent upon necessary approvals from the shareholders and regulatory authorities.
Furthermore, the Board authorized the FCCB Committee of the Company to finalize the terms and conditions related to the FCCB issuance and to undertake all requisite actions in connection with this process.
Increase in Borrowing and Investment Proposals
In addition to the debt financing, the Board took approval on other major corporate proposals. The Directors approved an increase in the borrowing limits of the Company by ₹ 10,000,00,00,000 (Rupees Ten Thousand Crores Only), subject to the approval of the Company's shareholders.The Board also approved a proposal to provide loans, guarantees, secure assets, or make investments up to Rs. 1000 crore (Rupees One thousand Crores only). This amount exceeds the limits specified under Section 186 of the Companies Act, 2013, and is subject to shareholder approval via a Special Resolution at an upcoming Extraordinary General Meeting (EGM).
Operational Approvals
To manage the FCCB issuance, the company constituted an FCCB (or Bond) Committee. This committee is tasked with overseeing and managing all aspects of the FCCBs, including structuring, pricing, documentation, and execution of the issue.The Board further approved the notice convening an Extraordinary General Meeting (EGM) for the Members of the Company. The EGM is scheduled for Friday, May 08, 2026, at 12:00 P.M. This meeting, which will be held physically at the corporate office in Navrangpura, Ahmedabad, aims to seek member approval for the business matters outlined in the EGM Notice.
Details on FCCB Issuance
The details pertaining to the proposed FCCB issuance are summarized in the following table, based on the company's annexure:| Particulars | Details |
|---|---|
| Type of securities proposed to be issued | Foreign Currency Convertible Bonds ('FCCBs') |
| Type of issuance | International offering on a private placement basis |
| Total amount proposed to be issued | FCCB upto USD 700 Million (US Dollars Seven Hundred Million Only) |
The FCCBs proposed are optionally convertible bonds, granting bondholders the option to convert them, in whole or in part, into equity shares of the Company, subject to necessary adjustments and applicable laws.
Stock Price Movement
At the close of trade today, Thinkink Picturez Ltd settled at ₹0.21, marking a decline of 4.55% for the session. Throughout the day, the shares traded within a tight range, moving between a low of ₹0.21 and a high of ₹0.22.Source:
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