MedPlus promoters to temporarily increase pledged shares for debt refinancing

MedPlus Health Services Limited's promoters, Agilemed Investments Private Limited and Gangadi Madhukar Reddy, executed a debenture trust deed on December 12, 2025, with Catalyst Trusteeship Limited. This is part of a refinancing strategy for Agilemed Investments Private Limited's existing debt through the issuance of non-convertible debentures (NCDs) amounting to up to INR 175 crore. These NCDs will bear an interest rate of 12.72% per annum, compounded monthly, plus an initial 1% coupon.

The refinancing transaction will temporarily increase the promoter group's pledged shares from 23.91% to 27.96% of MedPlus's equity. This temporary rise is due to the interim period of the refinancing process. Upon successful completion of the debt refinancing and the release of existing pledged shares, the aggregate promoter group share pledge is expected to reduce to 24.48%. The promoters currently hold 40.29% of MedPlus equity shares.

This transaction is a related party transaction involving the promoter entity, MedPlus's managing director & chief executive, Gangadi Madhukar Reddy, who also serves as a promoter and is considered an entity owned by the promoters. The company clarified that the listed entity itself is not a party to this specific agreement.