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Morepen Laboratories Ltd. — Capital/Financing Update 2025
May 23, 2025
59389_rns_2025-05-23_758e76c2-a6eb-4401-95e1-ad2a7c7d3575.pdf
Capital/Financing Update
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Date: 23/05/2025
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., Friday, May 23, 2025 (commenced at 9.00 a.m. concluded at 9.55 a.m.) has approved, inter-alia , availing of working capital demand loan facility, packing credit facility and post shipment facility from Qatar National Bank (‘the Bank’), to the extent of, in aggregate, Rs. 50,00,00,000/- (Rupees Fifty Crores Only) and entered into various agreements 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: 2025.05.23 10:03:16 +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
| Sr. No. | Particulars | Details |
|---|---|---|
| 1. | Name(s) of parties with whom |
Qatar National Bank (‘Lender’/ ‘Bank’) & Morepen |
| the agreement is entered; | Laboratories Limited (‘Borrower’). | |
| Mr. Sushil Suri, Promoter, Chairman & Managing Director | ||
| (‘Guarantor’). | ||
| 2. | Purpose of entering into the agreement; |
The Company has entered into agreements withQatar National Bankfor funding of working capital and/ or packing credit facility and/ or post shipment facility. |
| 3. | Size of agreement; | In aggregate, Rs. 50,00,00,000/- (Rupees Fifty Crore Only). |
| 4. | Shareholding, if any, in the entity with whom the agreement is executed; |
Nil |
| 5. | Significant terms of the agreement (in brief); special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure etc.; |
Working Capital Demand Loan Facility (WCDL) / Packing Credit Facility (‘PCF’)/ Post Shipment Facility (‘PSF’):Rs. 50,00,00,000/- (Rupees Fifty Crore Only); For WCDL Interest:Tenor linked Marginal Cost of Funds based Lending Rate + 1.25% p.a. Tenure:Up-to 90 days Repayment:On Demand For PCF/ PSF Interest:6 (six) months Secured Overnight Financing Rate + 2.00% p.a. Tenure:Up-to 180 days Repayment:On Demand |
| 6. | Whether the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship; |
Mr. Sushil Suri, Promoter, Chairman & Managing Director, has extended his personal guarantee against the aforesaid facility(ies)availed by the Company, to the Bank. |
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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| 7. |
Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length”; |
Not Applicable. |
|---|---|---|
| 8. |
In case of issuance of shares to the parties, details of issue price, class ofsharesissued; |
Not Applicable. |
| 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:Qatar National Bank Borrower:Morepen Laboratories Limited Nature of Loan/ Facility: Working Capital Demand Loan/ Packing Credit Facility / Post Shipment Facility Amount of Loan/ Facility to be availed from Qatar National Bank: Rs. 50,00,00,000/- (Rupees Fifty Crore Only) Amount of Loan Outstanding as on date (excluding this loan): Rs. 83.87 Crore (excluding Rs. 7.63 Crore as Vehicle Loan Rs. 13.14 Crore Loan against FD as on May 23, 2025. Date of Execution of the Agreements:May 23, 2025 Security provided to the lenders:First ranking_pari passu_ charge by way of hypothecation on entire current assets, including but not limited to, stocks of raw materials, finished goods, work in progress, consumables (store and spares), and book debt / receivables of the Borrower, both present and future. The aforesaid facility(ies) 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 ofthe agreement; |
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]
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c) Date of execution of the agreement;
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d) Details of amendment and impact thereof or reasons of termination and impact thereof.
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]