The company has proposed a postal ballot covering security over assets and subsidiary shares, promoter-related guarantees and an increase in borrowing limits. The resolutions relate to a proposed issue of senior, secured, rated, listed, redeemable, taxable and transferable non-convertible debentures.
BKK Bureau, New Delhi | 17 October 2026 | 5:56 PM IST
Fischer Medical Ventures Limited has notified the National Stock Exchange of India about a postal ballot seeking shareholder approval for a proposed issue of senior, secured, rated, listed, redeemable, taxable and transferable non-convertible debentures. The company disclosed the notice to the exchange on October 17, 2026.
The proposed financing would be backed by multiple security arrangements. One resolution seeks approval to create a first-ranking pari passu floating charge over the present and future assets of the company’s Indian material subsidiaries. A pari passu charge generally places the secured creditors on an equal-ranking basis over the charged assets, but the filing itself does not disclose the final size or terms of the debenture issue.
Shareholders are also being asked to approve the creation of a pledge over 100% of the equity shares held by Fischer Medical Ventures in its key Indian material subsidiaries. The notice identifies this pledge as security connected with the proposed debenture issue.
The postal ballot includes related-party approvals for guarantees from two Singapore-linked entities. FMV Holdings Pte. Ltd., identified as the company’s promoter and holding company, is listed as providing a corporate guarantee of ₹350 crore. Mercatus Capital Pte. Ltd., identified as a promoter-group company, is also listed for a corporate guarantee of ₹350 crore.
A separate related-party resolution covers the proposed pledge of equity shares held by the promoters, the holding company and/or a promoter-group company as security for the debentures. The filing records a disclosed pledge amount of ₹1,000 crore in connection with the promoter-held shares.
The company is seeking a mix of ordinary and special resolutions. The approvals relating to the creation of security over subsidiary assets, the promoter-related share pledge, the two corporate guarantees, the board’s power to create charges and the increase in borrowing limits are classified in the notice according to the relevant resolution requirements.
One special resolution would authorise the board to create charges on the company’s assets to secure borrowings under Section 180(1)(a) of the Companies Act, 2013. Another would increase the borrowing limit under Section 180(1)(c) of the Act. The notice also lists a postal ballot date of November 15, 2026.
The exchange filing does not state that the debentures have already been issued. The proposed transaction remains subject to the shareholder approvals covered by the postal ballot and to the other terms and conditions applicable to the financing.
Why it matters
The filing outlines how Fischer Medical Ventures plans to support a proposed debt raise through charges over subsidiary assets, a pledge of subsidiary shares, promoter-linked security and corporate guarantees. Shareholder approval would also expand the company’s formal borrowing and asset-charging authority under the Companies Act.
Source: National Stock Exchange of India
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