Pursuant to Regulation 30 read with Schedule III Para B Part A to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Archean Chemical Industries has informed that the Company has entered into a loan agreement with the Wholly Owned Subsidiary (WOS) Company, i.e. Neun Infra. The loan is intended to address immediate funding requirements of SiCSem for commencement of procurement of long-lead machinery, equipment, and associated items, which are essential to maintain project timelines, pending execution of the Fiscal Support Agreement (FSA) with the Government of India under the India Semiconductor Mission (ISM) framework. Neun Infra is the holding company for SiCSem, which has received approval under the India Semiconductor Mission for setting up a compound semiconductor and ATMP manufacturing facility in India. The proposed funding is aligned with advancing early-stage capital commitments of the approved project. The requisite details, as per Regulation 30 read with Schedule III of the Listing Regulations and SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are attached with this intimation as Annexure-A. This intimation is also being hosted on the website of the Company www.archeanchemicals.com.
The above information is a part of company’s filings submitted to BSE.
