MEIL Holdings Limited has announced the release of its Non-Disposal Undertaking (NDU) by REC Limited, marking the end of shareholding restrictions that were in place during a loan tenure. The company disclosed this development to BSE and NSE on January 13, 2026, under Regulation 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Loan Agreement and Undertaking Details

The Non-Disposal Undertaking was originally submitted to REC Limited in connection with a loan availed by olectra greentech Limited under Sanction Letter Ref. No. REC/CO/REN/EV/2019-20/OGL/437 dated March 11, 2020. As the promoter of Olectra Greentech Limited, MEIL Holdings had undertaken to continue as the largest shareholder during the entire loan tenure.

Shareholding and Encumbrance Details

MEIL Holdings Limited currently holds 4,10,53,000 shares in Olectra Greentech Limited, representing 50.02% of the total share capital. The Non-Disposal Undertaking specifically restricted the disposal of 6,38,083 shares, which constituted 0.78% of the total share capital.

The restriction mechanism was tied to the shareholding of the second-largest shareholder in Olectra Greentech Limited. According to the disclosure, the non-disposal restriction depended on the second largest shareholder's shareholding during the loan tenure, and as of the NDU release date, this shareholder held 6,38,083 shares.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations governing substantial acquisition of shares and takeovers. MEIL Holdings submitted the required format for disclosure by promoters regarding the release of encumbrance to both BSE (Scrip Code: 532439) and NSE (Symbol: OLECTRA).

Corporate Structure

MEIL Holdings Limited, incorporated with CIN U45209TG2009PLC064573, operates from its registered office at S-2, Technocrat Industrial Estate, Balanagar, Hyderabad-500037. The company is managed by P.V. Krishna Reddy as Managing Director (DIN: 01815061). With the loan fully repaid and the undertaking released, MEIL Holdings now has complete flexibility regarding its shareholding in Olectra Greentech Limited, subject to applicable regulatory requirements.

Olectra Greentech has revised its delivery guidance for FY26, lowering expectations to 1500-2000 units from the previously announced target of 2000-2500 units. This adjustment comes as the company continues to pursue strategic expansion into the electric truck segment.

Revised Delivery Projections

The company's updated guidance reflects a more conservative approach to its delivery targets for the upcoming fiscal year. The revised figures represent a notable adjustment in the company's business projections.

Strategic Product Portfolio Expansion

Despite the revised delivery guidance, the company continues with its strategic plans to expand its product portfolio by entering the electric truck segment. This move represents a significant diversification effort for the company as it looks to broaden its electric vehicle offerings beyond its current product range.

Market Positioning and Business Development

By adding electric trucks to its product lineup, Olectra Greentech is positioning itself to serve the commercial transportation sector's increasing demand for electric vehicles. The move aligns with the broader industry trend toward electrification of commercial fleets and sustainable transportation solutions.

This strategic expansion indicates the company's focus on diversifying its electric vehicle portfolio to include commercial applications. The addition of e-trucks to its offerings could enhance the company's competitive position in the electric vehicle market and provide access to new customer segments in the commercial transportation industry.