Vikram Solar promoter group entity VSL Ventures Private Limited has completed a significant loan refinancing transaction, involving the release and recreation of pledge on 15,099,750 equity shares representing 4.17% of the company's total share capital.

Loan Refinancing Details

VSL Ventures Private Limited refinanced its existing loan obligations with multiple lenders and replaced them with a new facility from Aditya Birla Capital Limited. The transaction was structured on commercially favourable terms for the borrower.

Previous Lenders and New Arrangement

The shares were previously pledged with multiple financial institutions through Vistra ITCL (India) Limited as debenture trustee. The released pledge covered obligations to:

• 360 One Income Opportunities Fund - Series 4
• 360 One Income Opportunities Fund - Series 6
• SMMS Trust
• True North Credit Opportunities Fund I
• Incred Credit Opportunities Fund II

Following the release, VSL Ventures immediately created a fresh pledge of the same quantum of shares with Aditya Birla Capital Limited via Pledge Reference No. 10000001998701.

Promoter Group Holdings

The disclosure reveals the complete promoter group shareholding structure in Vikram Solar Limited:

The total promoter shareholding stands at 22,83,18,938 shares, representing 63.01% of the company's total share capital.

Regulatory Compliance

The transaction has been disclosed in compliance with Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The disclosure was filed on February 06, 2026, with both BSE Limited and National Stock Exchange of India Limited, where Vikram Solar shares are listed under scrip code 544488 and symbol VIKRAMSOLR respectively.

The refinancing represents a strategic financial restructuring by the promoter group entity, consolidating multiple loan obligations into a single facility with Aditya Birla Capital Limited while maintaining the same level of share encumbrance.

Source:

Vikram Solar Limited has issued a comprehensive postal ballot notice dated January 21, 2026, seeking shareholder approval for three key director appointments through electronic voting. The company has scheduled the e-voting period from January 22, 2026, to February 20, 2026, allowing shareholders to participate in crucial governance decisions.

Director Appointments Overview

The postal ballot encompasses three significant resolutions related to board composition and leadership structure:

E-Voting Schedule and Process

The company has established a structured timeline for the electronic voting process to ensure comprehensive shareholder participation:

Shareholders whose names appear on the register of members or list of beneficial owners as received from NSDL and CDSL, and who have registered their email addresses with the company, depository participants, or registrar MUFG Intime India Private Limited, will be eligible to participate in the voting process.

Key Appointments and Qualifications

Mr. Suresh Gopinathan Menon

The 63-year-old professional brings extensive technology leadership experience, holding a Master of Science in Physics from University of Poona and Master of Technology in Computer Science from IIT Madras. He completed a distinguished 36-year tenure at Tata Consultancy Services Limited, retiring in May 2022 as Senior Vice President. His appointment as Additional Director became effective from December 1, 2025.

Mr. Joginder Pal Dua

The 73-year-old banking veteran possesses over three decades of financial sector experience, holding a master's degree in economics from Punjab University and a Law Degree from Meerut University. He previously served as Chairman and Managing Director of Allahabad Bank and retired as Chairman of the Board for Industrial and Financial Reconstruction in January 2016. His appointment as Additional Independent Director also took effect from December 1, 2025.

Ms. Neha Agrawal Re-appointment

The 38-year-old Whole-Time Director seeks re-appointment for a three-year term from March 22, 2026, to March 21, 2029. As a Chartered Accountant and Company Secretary, she brings over 14 years of solar industry experience and currently leads corporate strategy and international business operations.

Remuneration Structure

Ms. Neha Agrawal's re-appointment includes a comprehensive remuneration package:

Compliance and Governance

The postal ballot process adheres to Section 110 read with Section 108 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations. Mr. Atul Kumar Labh, Practicing Company Secretary, has been appointed as Scrutinizer to ensure fair and transparent voting procedures.

The company has made the postal ballot notice available on its website at www.vikramsolar.com , and voting rights will be proportionate to shareholders' paid-up equity share capital as of the cut-off date. Results will be announced within two working days after the voting period concludes, with approved resolutions deemed passed on the last date of e-voting.