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Arrow Greentech Limited — Capital/Financing Update 2024
Mar 15, 2024
61698_rns_2024-03-15_720f584e-da5c-4268-b043-436377b76ca6.pdf
Capital/Financing Update
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GREENTECH LTD
ARROW
March 15, 2024
To To Manager (CRD) Manager (CRD) BSE Ltd. (BSE) National Stock Exchange of India Ltd. (NSE ) P.J. Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex Mumbai 400 001 Bandra (E), Mumbai - 400051 Ref: Scrip Code - 516064 Ref: Scrip Code - ARROWGREEN
Sub: Outcome of the Board Meetings held on March 15, 2024
Dear Sir,
With reference to above, we hereby submit/ inform that:
The Board of Directors at its Meeting held today i.e. on March 15, 2024 at 3:00 PM and concluded at 3:30 PM, has approved below:
Approved acceptance of conversion of loan given to Avery Pharmaceuticals Private Limited (Wholly Owned Subsidiary Company) into Equity Shares
The Company had given an unsecured loan of Rs.27,20,00,000/- (Rupees Twenty-Seven Crores Twenty Lacs only) as on 29[th] Feb 2024 to M/s Avery Pharmaceuticals Private Limited (Wholly Owned Subsidiary Company) of Arrow Greentech Limited and the same carries an option of conversion into Equity Shares of M/s. Avery Pharmaceuticals Private Limited (Wholly Owned Subsidiary Company). On recommendation of Audit Committee, the Board of Directors at its meeting held on today,15[th] March 2024 approved to convert the loan amounting Rs.36,13,81,000/- (including principal & interest) into Equity Shares of M/s. Avery Pharmaceuticals Private Limited (Wholly Owned Subsidiary Company) and accordingly 4,64,500 numbers of Equity Shares at the issue price of Rs. 778/- (Rupees Seven Hundred Seventy-Eight only) each which is not less than the fair market value as per the valuation report obtained from the registered valuer, consisting face value of Rs.10/- (Rupees Ten Only) each and premium of Rs.768/- (Rupees Seven Hundred Sixty Eight only) each will be allotted and issued by M/s. Avery Pharmaceuticals Private Limited (Wholly Owned Subsidiary Company) to M/s Arrow Greentech Limited against conversion of outstanding loan.
This is for your information and records.
Thanking you,
Yours faithfully,
For Arrow Greentech Limited
POONAM BANSAL Digitally signed by POONAM BANSAL DN: c=IN, o=Personal, postalCode=401107, l=Thane, st=Maharashtra, street=FLAT NO. 002, C WING, DREAMLAND PARK, GOKULDHAM ROAD, MIRA ROAD EAST, THANE - 401107, 2.5.4.20=6337f5cfdd00610e79373fbe6e22a9c15469cb53523b0329e0abb0fee3961df0, serialNumber=29767aaf72264d6279ab82bc0fb1eb97d435ad1e02b910ea1dfae0216f2b0898, [email protected], cn=POONAM BANSAL Date: 2024.03.15 15:44:00 +05'30' Company Secretary
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ARROW GREENTECH LTD
CIN No.: L21010MH1992PLC069281
Registered Office: 1/F Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai 400 053, Maharashtra, Phone: +91 22‐4974 3758, Email : [email protected] Website: www.arrowgreentech com Works: Plot No 531 0,5311, GIDC, Ankleshwar 392002, Gujarat, INDIA Phone : +912646‐224743/224744 E‐mail : [email protected]