Vikran Engineering Limited Closes Rs 49.15 Crore Loan Arrangement with Composite Amendment Agreement

Vikran Engineering Limited Closes Rs 49.15 Crore Loan Arrangement with Composite Amendment Agreement​

Vikran Engineering Limited announced the closure of a significant loan arrangement totaling Rs 49.15 Crores. The loan was settled following the execution of a Composite Amendment and Supplement Agreement entered into on May 20, 2026.

The agreement was executed among multiple parties, including Vikran Engineering Limited, Onix Renewable Limited, NACOF Oorja Private Limited, and NOPL Solar Projects Private Limited. The purpose of the agreement was the formal closure of the existing loan arrangement.

The settlement mechanism involved adjusting the outstanding loan receivable of Rs 49.15 Crores. The total amount was adjusted through two primary components:

1. An amount of Rs 10 Crores was adjusted towards the consideration payable for the acquisition or transfer of shares of NOPL Solar Projects Private Limited.
2. The remaining balance of Rs 39.15 Crores was adjusted against an unsecured loan provided by Onix Renewable Limited to NOPL Solar Projects Private Limited, which was treated as a Promoter's contribution for project expenses.

Following these adjustments, the amount of Rs 39.15 Crores was subsequently treated as a working capital contribution in the form of an unsecured loan to NOPL Solar Projects Private Limited by Vikran Engineering Limited, which holds a 100% stake in NOPL Solar Projects Private Limited.

The successful completion of these adjustments and the agreed settlement mechanism ensures that the loan arrangement, initially aggregating to approximately Rs 49.15 Crores, stands formally closed.

VIKRAN Stock Price Movement​

Vikran Engineering Limited shares slipped by 3.01% on Wednesday, closing at ₹65.39. The equity finished the day trading 2.53 million shares, marking a significant drop from the previous close of ₹67.22.