SHOPLC Global Inc., a subsidiary of Vaibhav Global, has received a grant of US$2.76 million (net of expenses). The grant comes under the Employee Retention Credit (ERC) Scheme, related to the Coronavirus Aid, Relief and Economic Security (CARES) Act. The company is currently assessing the grant’s accounting and financial impacts.
SHOPLC Secures US$2.76 Million Grant
Vaibhav Global announced that its subsidiary, SHOPLC Global Inc. based in the USA, has been granted US$2.76 million. This figure is net of expenses.
Employee Retention Credit (ERC) Scheme
The grant is part of the Employee Retention Credit (ERC) Scheme. This scheme was introduced as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, aimed at helping businesses during the COVID-19 pandemic in the United States of America.
Evaluating Financial Impact
Vaibhav Global is actively evaluating the appropriate accounting procedures and the financial impact of this grant. They are working to assess the potential effects on the consolidated financial statements. The announcement was made on January 22, 2026.
Source: BSE
