1. ₹850 cr loan-to-equity conversion - The Board approved issuance of up to 51.51 cr equity shares at a premium upon conversion of outstanding unsecured loans held by six non-promoter investors, with shares listed and trading on BSE from 18 December 2024. The conversion shrinks debt by ₹850 cr on a balance sheet carrying ₹2,650 cr in borrowings, directly improving the 3.12x debt-to-equity ratio and reducing interest drag ahead of the distillery pivot.
2. Borrowing headroom raised to ₹2,500 cr - The Board approved increasing the borrowing limit to ₹2,500 cr on 14 November 2024, against total unsecured borrowings of ₹2,650 cr as of March 2025. The expanded limit provides sanctioned headroom to fund the capital-intensive entry into distillery operations without requiring fresh shareholder approvals.
3. Distillery business entry and name change - The company changed its name to Grand Oak Canyons Distillery Limited (MCA approval 22 January 2025) and altered its Memorandum to add objects covering distilleries, breweries, import/export, wholesale, retail, and R&D in alcoholic beverages. The renamed entity signals a complete strategic pivot from NBFC lending to pure-play beverage manufacturing, resetting the investment case.
4. Equity investment portfolio scaled to ₹3,096 cr - Fair-value investments rose to ₹3,09,579.55 lakhs as of March 2025 from ₹94,568.51 lakhs a year earlier, alongside loans to body corporates increasing to ₹40,372 lakhs. The enlarged treasury portfolio generates mark-to-market income and lending returns that can bridge earnings until distillery assets come onstream.
5. New Managing Director appointed for five-year term - Mr. Prabhakar Kumar was appointed Additional Managing Director effective 8 August 2025 for a term of five years, subject to shareholder approval, following the resignations of the prior MD and a non-executive director. The appointment locks in leadership continuity for the full execution window of the distillery transition.