The Board of Directors of Polo Queen Industrial and Fintech Limited ("the Company"), at its meeting held today, i.e., Friday, March 7, 2025, considered and approved to make a further investment of ?5,25,00,000 (Rupees Five Crore Twenty-Five Lakh only) in Polo Queen Capital Limited, its wholly-owned subsidiary, in two or more tranches. This investment is necessary to maintain the minimum Net Owned Fund requirement as prescribed under the RBI Directions applicable to Non-Banking Financial Companies (NBFCs).
As part of this investment, the Company will subscribe to 2,50,000 equity shares of ?10 each on a rights basis, making an initial investment of ?25,00,000 on or before March 31, 2025. The remaining amount will be invested in subsequent tranches.
The board also approved proposal to obtain a loan of up to ?100,00,00,000 (Rupees One Hundred Crore only) from Sanghai Holdings Private Limited, a Promoter Group Company, as and when required, subject to the approval of the Shareholders. The loan will be utilized for working capital requirements, settlement of outstanding loans, financing investments in subsidiaries, upcoming projects and other general corporate purposes, in accordance with the mutually agreed terms & conditions between the parties. |
