Gabriel India Limited's board approved fundraising of up to ₹1,000 crore through the private placement of senior, unsecured, rated, listed, and redeemable non-convertible debentures (NCDs). The meeting also greenlit the formation of a Finance Committee to oversee the issuance.

Key board decisions

The board approved two distinct resolutions at its meeting held on August 24, 2026. The following table summarises the decisions:

NCD issuance details

The board sanctioned the raising of funds up to ₹1,000 crore by issuing 1,00,000 NCDs with a face value of ₹1,00,000 each. The instruments will be issued on a private placement basis to eligible investors and are expected to be listed on the BSE Limited.

Specific terms regarding the tenure, coupon rate, date of allotment, maturity, and redemption schedule have not been finalised yet. These details will be specified in the key information document at a later stage. The debentures will carry no charge or security over the company's assets.

Finance Committee formation

In parallel, the board approved the constitution of a Finance Committee. This committee has been delegated powers pertaining to the issuance of the debentures and is expected to oversee broader financing activities of the company. The board meeting commenced at 10:00 am and concluded at 10:42 am.

Gabriel India's board of directors has approved a major strategic initiative, dubbed Project Jupiter, valued at ₹3,166 crore, aimed at acquiring stakes in two companies — HL Mando and HL Klemove India. The move marks a significant expansion of Gabriel India's corporate portfolio, with HL Klemove India set to be classified as an associate company following the transaction.

Project Jupiter: Key Transaction Details

The board-approved initiative encompasses stake acquisitions across two entities. As part of the transaction, Gabriel India will acquire a 30% stake in HL Klemove India for a consideration of USD 98.44 million. Upon completion, HL Klemove India will be designated as an associate company of Gabriel India, reflecting the significant ownership interest being acquired.

The following table outlines the key parameters of the board-approved transaction:

Board Approval and Corporate Development

The board of Gabriel India has formally approved Project Jupiter, underscoring the company's intent to deepen its strategic presence through targeted stake acquisitions. The inclusion of both HL Mando and HL Klemove India under a single initiative highlights the scale and ambition of this corporate development.