Arihant Superstructures Limited has made a full and final redemption of its Secured Non-Convertible Debentures (NCDs) pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.

Redemption Details

The company redeemed 70,00,000 (Seventy Lakh) unlisted, unrated, secured, redeemable, non-convertible debentures of face value ₹100 each, amounting to a total principal of ₹70,00,00,000 (Rupees Seventy Crores). These NCDs were issued to India Real Estate Investment Fund Series 2.

The redemption was executed in accordance with the terms and conditions of the Debenture Trust Deed dated April 02, 2024, bearing registration number 6609/2024.

Payment and Settlement

The actual amount received by the debenture holder (India Real Estate Investment Fund Series 2) was ₹75,34,42,784 (Rupees Seventy-Five Crore Thirty-Four Lakh Forty-Two Thousand Seven Hundred and Eighty-Four Only), representing the full and final repayment including principal and interest components.

Security Release

Following the complete repayment, the security created for these NCDs has been released. The security included:

  • First and exclusive charge by way of registered English Mortgage without possession over the entire right, title and interest of Arihant Adarsh Land, Arihant Aaradhya Land and Arihant Aayan Land
  • Charge over development rights of Project Arihant Adarsh, Project Arihant Aayan and Project Arihant Aaradhya (including unsold units)
  • Charge over Project Receivables and Proceeds of these three projects
  • Charge over Escrow/Current Accounts and any other accounts opened in respect of these projects

Property Details

The mortgaged properties included:

Project Arihant Adarsh (Village Ghot, Taluka Panvel, District Raigad):

  • Total land area: 43,220 square meters across multiple land parcels (Gat Nos. 43/3/2, 59/1, 60/1/2B, 35/1+2/1(2), 35/1+2/1(3), 35/1+2/1(4))

Project Arihant Aayan (Village Titwala, Taluka Kalyan, District Thane):

  • Total land area: 1 Hectare 6.6 Ares across multiple survey numbers (116/4, 120/9, 147/5, 147/6, 147/2C, 147/2D)

Project Arihant Aaradhya (Village Ghot, Taluka Panval, District Raigad):

  • Total land area: 43,220 square meters (approximately 10.67 Acres) across multiple survey numbers (35/1A, 35/1B, 35/1C, 36, 43/3/2, 59/1, 60/1/2B, 35/1+2/1(2), 35/1+2/1(3), 35/1+2/1(4))