Sadbhav Engineering Limited (SADBHAV) — Announcement

1 Announcement 🔴 High Importance ⚠️ Negative 📄 PDF

Sadbhav Engineering Limited signed a Master Restructuring Agreement (MRA) on March 25, 2026, with a majority consortium of six lenders including Punjab National Bank, Union Bank of India, and Axis Bank. The agreement restructures ₹1,516.71 crores in total debt (₹906.35 crores fund-based, ₹610.36 crores non-fund-based) under RBI's stressed assets framework. Fund-based exposure will convert to debentures with interest components converting to equity; promoter debt will also convert to equity per restructuring terms.

2 Announcement ⚠️ Negative 📄 PDF

Sadbhav Engineering Limited executed a Master Restructuring Agreement on March 25, 2026, with a consortium of six lenders including Punjab National Bank, Union Bank of India, and Axis Bank to restructure ₹1,516.71 crores in debt (₹906.35 crores fund-based, ₹610.36 crores non-fund-based). The restructuring converts fund-based exposure into convertible debentures with interest components and promoter debt converting to equity. Lenders gain rights to appoint nominee directors and pre-emptive share subscription rights under the RBI stressed-asset framework.