Medplus Health Services Limited — Important, 18-12-2024: Agreements

Promoters of MedPlus Health Services Limited, including Lone Furrow Investments and Gangadi Madhukar Reddy, have executed a Debenture Trust Deed with Catalyst Trusteeship Limited. This agreement aims to refinance existing debt through the issuance of Non-Convertible Debentures (NCDs) up to ₹550 Crore at an interest rate of 13.75% XIRR. The promoters' pledged shares will temporarily rise from 21.88% to 33.38%, before eventually adjusting to 22.84% post-refinancing. This restructuring could enhance financial stability but also raises concerns about increased leverage in the short term. Investors should monitor the situation as it unfolds for potential impacts on equity performance and promoter control.