Symphony Shares in Focus; Signs 2nd Loan Addendum With Subsidiary

Symphony Limited amends its loan agreement with Symphony AU Pty Limited (SAPL), increasing the loan facility from Australian $10 million to Australian $15 million. The loan will be used for SAPL’s working capital and corporate needs.

An addendum is a document that is added to an existing contract or agreement to modify, clarify, or add new terms without altering the original agreement itself.

Loan Details

Symphony Limited has executed a second addendum to the loan agreement dated June 28, 2023, with its wholly owned subsidiary, Symphony AU Pty Limited (SAPL), based in Australia.

The loan amount has been increased from A$10 million to A$5 million to support SAPL’s working capital requirements and general corporate purposes, the company said in a press release on the stock exchanges.

The loan will be provided in one or more tranches, and it is an unsecured loan facility. As of the date of the addendum, the outstanding loan amount is A$8 million.

The agreement does not include special rights like appointing directors or restricting capital changes.

Symphony Limited holds 100% of the shares in SAPL, and the transaction is considered a related-party transaction conducted at arm’s length. The addendum was executed on December 23, 2024.

Share Price Performance

On December 24, 2024, Symphony’s share price rose by 2.77%, reaching ₹1,319.95 at 1:30 PM on the NSE. The stock opened at ₹1,296, higher than its previous close of ₹1,284.40.

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