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Morepen Laboratories Ltd. — Capital/Financing Update 2025
Mar 29, 2025
59389_rns_2025-03-29_257f08ca-cc72-4524-8748-619d01cff93e.pdf
Capital/Financing Update
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Date: 29/03/2025
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: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")
Dear Sir/ Ma’am,
This is to inform that the Finance Committee of the Board of Directors of the Company at its meeting held today i.e., Saturday, March 29, 2025 (commenced at 1.30 p.m. concluded at 2.10 p.m.) has approved, inter-alia , term loan facility from Shinhan Bank (‘the Bank’), to the extent of Rs. 25,00,00,000/- (Rupees Twenty-Five Crores Only) and entered into a ‘Loan Agreement’ with the Bank.
The details, as required under the SEBI Listing Regulations, read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, is given under as Annexure .
You are requested to take note of the same in your records.
Thanking you,
Yours faithfully,
For Morepen Laboratories Limited
Vipul Digitally signed by Vipul Kumar Kumar Srivastava Srivastava Date: 2025.03.29 14:20:55 +05'30' Vipul Kumar Srivastava Company Secretary & Compliance Officer 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 in terms of Regulation 30 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
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Sr. No. Particulars Details
1. Name(s) of parties with whom Shinhan Bank (‘Lender’) & Morepen Laboratories Limited
the agreement is entered; (‘Borrower’).
Mr. Sushil Suri, Promoter, Chairman & Managing Director
(‘Guarantor’).
2. Purpose of entering into the The Company has entered into the loan agreement with
agreement; Shinhan Bank to secure the credit facilities for general
business purposes.
3. Size of agreement; In aggregate, Rs. 25,00,00,000/- (Rupees Twenty Five Crore
Only).
4. Shareholding, if any, in the Nil
entity with whom the agreement
is executed;
5. Significant terms of the Term Loan Facility: Rs. 25,00,00,000/- (Rupees Twenty-
agreement (in brief); special Five Crore Only)
rights like right to appoint Interest: 9.25% p.a. [floating rate (Repo linked)]
directors, first right to share Tenure: 36 months.
subscription in case of issuance Repayment: 10 equal quarterly instalments with a
of shares, right to restrict any Moratorium period of 6 months.
change in capital structure etc.;
6. Whether the said parties are Mr. Sushil Suri, Promoter, Chairman & Managing Director, has
related to promoter/promoter extended his personal guarantee against the aforesaid term loan
group/ group companies in any facility availed by the Company, to the Bank.
manner. If yes, nature of
relationship;
7. Whether the transaction would Not Applicable.
fall within related party
transactions?
If yes, whether the same is
done at “arm’s length”;
8. In case of issuance of shares to Not Applicable.
the parties, details of issue
price, class of shares issued;
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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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| 9. | 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:Shinhan Bank Borrower:Morepen Laboratories Limited Nature of Loan: Term Loan Amount of Loan availed from Shinhan Bank: Rs. 25,00,00,000/- (Rupees Twenty five Crore Only) Amount of Loan Outstanding as on date (excluding this loan): Rs. 48.50 Crore (excluding Rs. 7.62 Crore as Vehicle Loan Rs. 12.11 Crore Loan against FD as on March 29, 2025) Date of Execution of Agreement:March 29, 2025 Security provided to the lenders:The aforesaid term loan facility is supported by personal guarantee of Mr. Sushil Suri, Promoter, Chairman & Managing Director. |
|---|---|---|
| 10. | 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.; |
Not Applicable |
| 11. | In case of termination or amendment of agreement, listed entity shall disclose additional details to the stock exchange(s): a) Name of parties to the agreement; b) Nature of the agreement; c) Date of execution of the agreement; d) 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]