Key Quantitative Figures

  • Number of NCDs Allotted: 14,500
  • Face Value per NCD: ₹1,00,000 (Indian Rupees One Lakh)
  • Total Issue Size: ₹145,00,00,000 (Indian Rupees One Hundred Forty-Five Crore)
  • Coupon Rate: 10.25% per annum
  • Partial Redemption Amount: ₹99,500 per NCD (due on or before October 21, 2026)
  • Final Redemption Amount: ₹500 per NCD (due on October 21, 2027)
  • Maximum Issue Size as per Trust Deed: Up to 16,000 NCDs aggregating ₹160 crore

Parties Involved

  • Issuer: Anupam Rasayan India Limited (CIN: L24231GJ2003PLC042988)
  • Debenture Holder/Subscriber: Aditya Birla Capital Limited (CIN: L64920GJ2007PLC058890)
  • Debenture Trustee: CTL Trusteeship Limited (CIN: U66190PN2024PLC237102)
  • Escrow Bank: Axis Bank Limited

Agreements Executed

The Company executed the following agreements in connection with the issue:

  • (a) Debenture Trust Deed with CTL Trusteeship Limited
  • (b) Debenture Trust Agreement with CTL Trusteeship Limited
  • (c) Deed of Hypothecation (charge over escrow account assets)
  • (d) Demand Promissory Note(s) issued to the Debenture Trustee
  • (e) Letter(s) of Continuity issued to the Debenture Trustee

Purpose of Proceeds

The proceeds from the Issue are proposed to be utilised for:

  • Repayment of existing debt facilities
  • Investment in group companies
  • General corporate purposes

Security Package

Security for the debentures comprises:

1. First ranking pledge over certain identified shares of the Company held by:

  • Mr. Anand Sureshbhai Desai
  • Mrs. Mona Anandbhai Desai
  • Ms. Shraddha Anand Desai
  • Rehash Industrial and Resins Chemicals Private Limited

Disclosures for the share pledge are to be made separately upon execution of the Share Pledge Agreement.

2. Charge by way of hypothecation over the hypothecated assets, which are an escrow account with Axis Bank Limited. The account assets comprise monies, securities, fixed deposits, instruments, investments, and cash top-up held in or credited to this escrow account.

Key Terms from Debenture Trust Deed

  • The debentures constitute direct, unconditional, and secured obligations.
  • Default interest is payable at 2% over and above the coupon rate (10.25% p.a.) upon an event of default.
  • The Debenture Trustee may appoint a nominee director on the issuer's board upon specified defaults, including two consecutive coupon payment defaults, default in security creation, redemption default, or any event of default.
  • The charge is to be discharged upon the Final Settlement Date.

Other Disclosures

  • The NCDs are unlisted.
  • The transaction with CTL Trusteeship Limited is not a related party transaction and is conducted at arm's length.
  • The Company holds no shareholding in CTL Trusteeship Limited, and vice versa.
  • No special rights, such as the right to appoint directors or first right of share subscription, are conferred under the agreements, except for the nominee director right upon default as per the trust deed.
  • This disclosure will be hosted on the Company's website at www.anupamrasayan.com.