Summary of Key Information:
Nature of Filing / Announcement: Outcome of Board Meeting regarding debt fundraising
Corporate Actions:
Fundraising / Financing:
The Board approved the issuance of debt securities through private placement:
- Base Issue: 350 Senior, Secured, Rated, Unlisted, Redeemable Non-Convertible Debentures (NCDs)
- Face Value: ₹10,00,000 (Ten Lakh) each
- Base Issue Size: ₹35,00,00,000 (Thirty-Five Crore)
- Green Shoe Option: Up to 200 additional NCDs
- Green Shoe Size: ₹20,00,00,000 (Twenty Crore)
- Total Maximum Issue Size: ₹55,00,00,000 (Fifty-Five Crore)
- Issuance Structure: Can be executed over single or multiple tranches
Debt Instrument Details:
- Type: Unlisted, rated, senior, secured, redeemable, non-convertible debentures
- Tenure: 42 months (Forty-Two months) from first date of allotment
- Interest Rate: 12.72% per annum
- Interest Payment: Monthly payments
- Principal Repayment: 13 equal quarterly repayments
- Allotment Date: To be determined subsequently at time of signing definitive documents
Security Arrangements:
- Exclusive mortgage over certain immovable properties of the Company (as identified in Debenture Trust Deed)
- Subservient charge over present and future current assets
- Guarantees from promoters and promoter group entity
Default Provisions:
- Default charges accrue at 2% per annum on outstanding secured obligations
- Applicable if payment delay exceeds due date