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Morepen Laboratories Ltd. — Capital/Financing Update 2024
Dec 18, 2024
59389_rns_2024-12-18_73c9d839-be05-4f48-854b-9af83c803599.pdf
Capital/Financing Update
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Date: 18/12/2024
To,
National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 Symbol: MOREPENLAB
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001 Scrip Code: 500288
Subject: Disclosure under Regulations 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (“SEBI LODR Regulations”)
Dear Sir/ Madam,
This is to inform that the Finance Committee of the Board of Directors of the Company at its meeting held today i.e., 18[th] December, 2024 (commenced at 1.30 p.m. concluded at 4.40 p.m.) has approved, inter-alia, availing of working capital facility from Kotak Mahindra Bank Limited (‘the Bank’), to the extent of Rs. 99,00,00,000/- (Rupees Ninety Nine Crore Only) and entered into a ‘Loan Agreement’ with the bank.
The necessary disclosures pursuant to SEBI Circular no. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13[th] July, 2023, is enclosed herewith as Annexure.
Thanking you,
Yours faithfully,
For Morepen Laboratories Limited
Vipul Digitally signed by Vipul Kumar Kumar Srivastava Srivastava Date: 2024.12.18 16:47:46 +05'30'
Vipul Kumar Srivastava Company Secretary F-12148
Encl.: a/a.
Morepen Laboratories Limited
CIN NO. L24231 HP1984PLC006028
Corp. Off.: 2nd Floor, Tower C, DLF Cyber Park, Udyog Vihar-III, Sector-20, Gurugram, Haryana-122016, INDIA TEL.: +91 124 4892000, E-mail: [email protected], Website: www.morepen.com
Regd. Off.: Morepen Village, Malkumajra, Nalagarh Road, Baddi, Distt. Solan (H.P.) -173205, INDIA Tel.: +91 1795 266401-03, 244590, Fax: +91 1795 244591, E-mail: [email protected]
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Annexure
Disclosure under Regulations 30 of the SEBI LODR Regulations read-with circular no. SEBI/ HO/ CFD/ CFD-PoD-1/ P/ CIR/ 2023/ 123 issued by SEBI dated 13[th] July, 2023.
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Sr. Particulars Details
a) name(s) of parties with whom the Kotak Mahindra Bank Limited (‘Lender
agreement is entered; Bank’) & Morepen Laboratories Limited
(‘Borrower’).
Mr. Sushil Suri, Promoter, Chairman &
Managing Director (‘Guarantor’).
Solitary Investments and Financial Services
Private Limited and Square Investments and
Financial Services Private Limited, entities
belonging to promoter group (‘Corporate
Guarantors’).
b) purpose of entering into the agreement; Working capital facility.
c) size of agreement; In aggregate, Rs. 99,00,00,000/- (Rupees
Ninety Nine Crore Only).
d) shareholding, if any, in the entity with The company doesn’t hold shares in the
whom the agreement is executed; Banks/ Corporate Guarantors.
e) significant terms of the agreement (in WCDL: Rs. 79,00,00,000/- (Rupees Seventy
brief) special rights like right to appoint Nine Crore Only)
directors, first right to share Interest:11.00% p.a.
subscription in case of issuance of Tenure: Up-to maximum of 90 days/ valid
shares, right to restrict any change in for 12 months.
capital structure etc.;
CC: Rs. 20,00,00,000/- (Rupees Twenty
Crore Only)
Interest:11.00% p.a.
Tenure: 12 months /repayable on demand.
First charge by way of hypothecation of all
present and future current assets and fixed
assets of the Company and first charge on all
present and future movable and immovable
fixed assets of the Company in favour of
lender bank.
f) whether, the said parties are related to Mr. Sushil Suri, Promoter, Chairman &
promoter/promoter group/ group Managing Director (‘Guarantor’).
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Morepen Laboratories Limited
CIN NO. L24231 HP1984PLC006028
Corp. Off.: 2nd Floor, Tower C, DLF Cyber Park, Udyog Vihar-III, Sector-20, Gurugram, Haryana-122016, INDIA TEL.: +91 124 4892000, E-mail: [email protected], Website: www.morepen.com
Regd. Off.: Morepen Village, Malkumajra, Nalagarh Road, Baddi, Distt. Solan (H.P.) -173205, INDIA Tel.: +91 1795 266401-03, 244590, Fax: +91 1795 244591, E-mail: [email protected]
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| companies in any manner. If yes, nature of relationship; |
Solitary Investments and Financial Services Private Limited and Square Investments and Financial Services Private Limited (‘Corporate Guarantors’), members of promoter group of the Company. |
|
|---|---|---|
| g) | whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length”; |
Yes, the transaction is at arm’s length basis. |
| h) | in case of issuance of shares to the parties, details of issue price, class of shares issued; |
Not applicable. |
| i) | in case of loan agreements, details of lender/borrower, nature of the loan, total amount of loan granted/taken, total amount outstanding, date of execution of the loan agreement/sanction letter, details of the security provided to the lenders / by the borrowers for such loan or in case outstanding loans lent to a party or borrowed from a party become material on a cumulative basis; |
Lender:Kotak Mahindra Bank Limited Borrower:Morepen Laboratories Limited Nature of loan:Working capital demand loan & cash credit limits. Amount of loan:In aggregate, Rs. 99,00,00,000/- (Rupees Ninety Nine Crore Only). Amount of loan outstanding as on date of disclosure:Nil Date of execution of loan Agreement:18th December, 2024 Security provided, if any:Refer point (e) supra. _(Exclusive of vehicle loans of Rs. 6.89 Cr. _and loan against FD of Rs. 31.24 Cr., as on 30th November 2024) |
| j) | Any other disclosures related to such agreements, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreements, etc.; |
Nil. |
| k) | In case of termination or amendment of agreement, listed entity shall disclose additional details to the stock exchange(s): i. name of parties to the agreement; ii. nature of the agreement; iii. date of execution of the agreement; iv. details of amendment and impact thereof or reasons of termination and impact thereof. |
Not applicable. |
Morepen Laboratories Limited
CIN NO. L24231 HP1984PLC006028
Corp. Off.: 2nd Floor, Tower C, DLF Cyber Park, Udyog Vihar-III, Sector-20, Gurugram, Haryana-122016, INDIA TEL.: +91 124 4892000, E-mail: [email protected], Website: www.morepen.com
Regd. Off.: Morepen Village, Malkumajra, Nalagarh Road, Baddi, Distt. Solan (H.P.) -173205, INDIA Tel.: +91 1795 266401-03, 244590, Fax: +91 1795 244591, E-mail: [email protected]