Shivam Autotech Limited (SHIVAMAUTO) — Board Meeting

📢 Key Event
Board approved utilization of ₹120 crores from preferential issue of optionally convertible debentures.

🔄 What Changed
₹105.15 crores utilized for NCD repayment, with ₹37.15 crores funded from existing resources causing delay; ₹4.99 crores unutilized in long-term working capital due to missed deadlines.

🔮 What's Next
No explicit future statements or deadlines provided in the document.

💡 Investor Takeaway
The company faces execution delays in deploying funds as per offer document, risking liquidity and requiring potential future funding if conversion does not occur.

The Board approved the utilization of ₹120 crores raised via a February 2026 preferential issue of optionally convertible debentures, primarily for repayment of non-convertible debentures to Alpha Alternatives Structured Credit Opportunities (AASCO) and partial long-term working capital deployment. The Monitoring Agency report highlights ₹105.15 crores utilized by March 31, 2026, with ₹37.15 crores of NCD repayment funded from existing company resources rather than issue proceeds, causing a delay in object completion. ₹4.99 crores remained unutilized under the long-term working capital object due to missed deployment deadlines, and the company continues to report net losses of ₹33.28 crores in 9MFY26.

📄 View Original Announcement (PDF)

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