Debt-Free Status Achieved; Outstanding Debt of All 14 Consortium Banks Discharged

The company says it has repaid the remaining outstanding debt to banks and achieved Debt-Free status.

Fri 25 Sep 2026

Consortium Banks

14

Settlement Agreement Date

30 September 2024

Debt Status

Debt-Free status achieved

Repayment Timing

completed ahead of scheduled due dates

What was announced

The company has informed the stock exchanges that it has repaid the remaining outstanding debt of the banks and has achieved a Debt-Free status.

Scope of the repayment

• Outstanding debt of all the 14 consortium banks has been discharged.
• The repayments were made under the terms of the Settlement Agreement dated 30 September 2024.
• All repayments were completed ahead of scheduled due dates.

Why it matters

Bank borrowings carry interest and covenants that restrict how a company uses its cash. The company states that achieving debt-free status will materially strengthen its balance sheet and financial position.

This update follows earlier intimations by the company on the clearance and repayment of outstanding bank debt, and marks the completion of that process.

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