Universal Cables to seek shareholder approval to raise borrowing limit to ₹4500 crore at August 3, 2026 AGM
AI Market Summary
Universal Cables' AGM agenda seeks shareholder approval to raise its borrowing cap to ₹4,500 crore from ₹3,500 crore and to create corresponding security on assets, alongside routine items including audited accounts, a ₹4.50/share dividend, and cost auditor remuneration. The disclosure frames the change as standard financing authorization for capex and working capital, with no new project details or stated changes in credit metrics, limiting broader market relevance.
Impact level
● Low
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Universal Cables Limited will hold its 81st Annual General Meeting on August 3, 2026, seeking shareholder approval to raise its borrowing limit from ₹3500 crore to ₹4500 crore. Shareholders will also vote on adopting the audited financial statements for FY 2025–26, declaring a dividend of ₹4.50 per equity share (45%), and ratifying the cost auditor’s remuneration. The company said the higher borrowing ceiling is meant to support long-term strategy, capital expenditure and incremental working capital needs.
