Company Update

RMC Switchgears' Board has approved a Pledge Agreement to secure financing for its associate, Intelligent Hydel Solutions Private Limited (IHSPL). Under this, RMC is pledging its 51% shareholding in IHSPL as collateral to CTL Trusteeship Limited for a loan facility from Aseem Infrastructure Finance Limited.

This provides security for IHSPL's financial obligations.

Additionally, the Board approved an investment in RMC NextGen Systems LLP, where RMC will acquire a 51% stake.

This move expands RMC's presence in a new entity.