BSECompany Update5 Oct 2026 · 5 Oct 2026, 07:17 pm
Execution and Signing of Master Restructuring Agreement.
BGR Energy Systems Ltd · 532930
✦ AI SummaryDebt Restruc.
BGR Energy Systems Ltd has entered into a Master Restructuring Agreement with National Asset Reconstruction Company Limited to restructure its outstanding debt of Rs. 3736 Crore.
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Earnings Impact5/10
Growth Catalyst2/10
Governance Concern3/10
Regulatory Risk6/10
Balance Sheet Risk8/10
Liquidity Impact4/10
Market Sentiment5/10
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Full Announcement
BGR Energy Systems Ltd - 532930 - Announcement Under Regulation 30 (LODR) - Agreement
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BGR ENERGY SYSTEMS LIMITED
443 ANNA SALAI, TEYNAMPET, CHENNAI 600018 INDIA
TEL: 91 44 24364422/24320390
E-mail: compliance@bgrenergy.com Web site: www.bgrcorp.com
Date: 05th October 2026
National Stock Exchange of India Limited BSE Limited
Listing Department Department of Corporate services
Exchange Plaza, Bandra Kurla Complex, PJ Towers, Dalal Street
Bandra (E), Mumbai - 400 051 Fort, Mumbai - 400 001
NSE Symbol: BGRENERGY BSE Scrip: 532930
Respected Sir/Madam,
Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015 – Execution and Signing of Master Restructuring
Agreement
Dear Sir/Madam,
With reference to our letter dated 25th September 2026 and in line with requirement of Regulation 30
of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“SEBI LODR, 2015”) read with Para B of Part A of Schedule III to the SEBI LODR,
2015, we are pleased to inform that, BGR Energy Systems Limited (“the Company”) has entered into
a Master Restructuring Agreement inter-alia with National Asset Reconstruction Company Limited
acting through India Debt Resolution Company Limited.
Disclosure pursuant to Regulation 30 of SEBI LODR, 2015, read with SEBI Master Circular No.
HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026 is enclosed as Annexure - ‘A’.
Thanking you,
Yours truly
For BGR ENERGY SYSTEMS LIMITED
S. Sundar
Company Secretary & Compliance Officer
Membership No. A9926
REGISTERED OFFICE:
E-4 PANNAMGADU INDUSTRIAL ESTATE, RAMAPURAM POST, TADA MANDALAM, TIRUPATHI DISTRICT, ANDHRA PRADESH
524401 INDIA.
Corporate Identity Number: L40106AP1985PLC005318
BGR ENERGY SYSTEMS LIMITED
443 ANNA SALAI, TEYNAMPET, CHENNAI 600018 INDIA
TEL: 91 44 24364422/24320390
E-mail: compliance@bgrenergy.com Web site: www.bgrcorp.com
Annexure –A
Disclosures pursuant to Regulation 30 of SEBI LODR, 2015 read with SEBI Master Circular
No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.
S. No Particulars Description
1 Name(s) of parties with whom the agreement is Master Restructuring Agreement (“MRA”)
entered; has been entered into inter-alia between
National Asset Reconstruction Company
Limited (“NARCL”) and the Company.
2 Purpose of entering into the agreement; Restructuring of the outstanding debt in
accordance with the terms of the MRA.
3 Size of agreement Total Outstanding debt of Rs. 3736 Crore (as
of October 1, 2025) comprising Sustainable
Debt of 1,245 Crore and Unsustainable debt
– 2491 Crore.
4 Shareholding, if any, in the entity with whom the National Asset Reconstruction Company
agreement is executed Limited does not hold any shares in the
Company. Please see note 5 below also.
BGR Investment Holdings Company Limited
holding 51% of shares of the BGR Energy
Systems Limited.
5 Significant terms of the agreement (in brief) special Repayment of Sustainable Debt in 4
rights like right to appoint directors, first right to share years i.e., by 30th September 2030.
subscription in case of issuance of shares, right to Allotment of 20 % of equity shares of the
restrict any change in capital structure etc Company to NARCL on fully diluted basis.
Payment of such amounts to NARCL in
connection with certain identified bank
guarantees ("Identified BGs") assigned
to NARCL, in the event of invocation or
devolvement of such Identified BGs.
REGISTERED OFFICE:
E-4 PANNAMGADU INDUSTRIAL ESTATE, RAMAPURAM POST, TADA MANDALAM, TIRUPATHI DISTRICT, ANDHRA PRADESH
524401 INDIA.
Corporate Identity Number: L40106AP1985PLC005318
BGR ENERGY SYSTEMS LIMITED
443 ANNA SALAI, TEYNAMPET, CHENNAI 600018 INDIA
TEL: 91 44 24364422/24320390
E-mail: compliance@bgrenergy.com Web site: www.bgrcorp.com
Amounts recovered or to be recovered
by the Company in relation to specified
arbitration claims, receivables, awards
and other claims, of which 75% shall be
payable to NARCL in accordance with the
terms of the MRA.
Right to appoint up to 2 Nominee
Directors.
Constitution of a Monitoring Committee
comprising representatives of the lender
and the Company to oversee the
implementation of the restructuring.
Continuation of existing security in
favour of NARCL.
Right of first refusal in favour of the
obligors (being the Company and the
corporate guarantors party to the MRA),
in the event NARCL proposes to sell or
transfer all or part of the equity shares
allotted to it in terms of the MRA.
6 Whether, the said parties are related to NARCL is not related to promoter / promoter
promoter/promoter group/ group companies in any group / group companies in any manner.
manner. If yes, nature of relationship;
7 Whether the transaction would fall within related party No
transactions? If yes, whether the same is done at
“arm’s length”
8 In case of issuance of shares to the parties, details of The issue/allotment of equity shares, if any,
issue price, class of shares issued; is subject to completion of applicable
corporate, regulatory and other approvals
and the number of shares/issue price will be
REGISTERED OFFICE:
E-4 PANNAMGADU INDUSTRIAL ESTATE, RAMAPURAM POST, TADA MANDALAM, TIRUPATHI DISTRICT, ANDHRA PRADESH
524401 INDIA.
Corporate Identity Number: L40106AP1985PLC005318
BGR ENERGY SYSTEMS LIMITED
443 ANNA SALAI, TEYNAMPET, CHENNAI 600018 INDIA
TEL: 91 44 24364422/24320390
E-mail: compliance@bgrenergy.com Web site: www.bgrcorp.com
as per the terms of MRA in compliance with
the applicable laws.
9 In case of loan agreements, details of Not Applicable
lender/borrower, nature of the loan, total amount of
loan granted/taken, total amount outstanding, date of
execution of the loan agreement/sanction letter,
details of the security provided to the lenders / by the
borrowers for such loan or in case outstanding
loans lent to a party or borrowed from a party become
material on a cumulative basis;
10 Any other disclosures related to such agreements, Not Applicable
viz., details of nominee on the board of directors of
the listed entity, potential conflict of interest arising
out of such agreements, etc
11 In case of termination or amendment of agreement, Not Applicable
listed entity shall disclose additional details to the
stock exchange(s):
i. name of parties to the agreement
ii. nature of the agreement
iii. date of execution of the agreement
details of amendment and impact thereof or
iv. reasons of termination and impact thereof
REGISTERED OFFICE:
E-4 PANNAMGADU INDUSTRIAL ESTATE, RAMAPURAM POST, TADA MANDALAM, TIRUPATHI DISTRICT, ANDHRA PRADESH
524401 INDIA.
Corporate Identity Number: L40106AP1985PLC005318