Date: August 3, 2026
Board Meeting Outcomes
A Committee of the Board of Directors at its meeting held on August 3, 2026 approved the issuance of debt securities through private placement.
Debt Issuance Details
Instrument Type: Secured, Unlisted, Redeemable, Rated Non-Convertible Debentures (NCDs)
Total Issuance: 25,000 debentures with face value of ₹1,00,000 each
Total Issue Size: ₹250,00,00,000 (₹250 crore)
Issuance Method: Private placement basis
Listing Status: Unlisted
Deemed Date of Allotment: August 5, 2026
Date of Maturity: June 30, 2036 (final redemption date)
Tenure: 9 years and 10 months 25 days from Deemed Date of Allotment
Coupon Rate: 3 Months T-Bill Rate + 2.60% per annum
Coupon Payment Frequency: Monthly
Coupon Payment Schedule: Last day of each Coupon Period (or preceding Business Day if not a Business Day)
Security: Secured with security cover of 1.25x (one point two five times) at all times during tenure
Call/Put Option: Available at the end of 3 years from deemed date of allotment at par value
Default Interest: In case of default of payment, additional interest of 2% per annum over and above the Coupon Rate shall be payable
Principal Repayment Schedule
The debentures will be repaid through 40 installments as follows:
| Installment | Date | Amount (₹) |
| 1 | September 30, 2026 | 3,75,00,000.00 |
| 2 | December 31, 2026 | 3,75,00,000.00 |
| 3 | March 31, 2027 | 3,75,00,000.00 |
| 4 | June 30, 2027 | 3,75,00,000.00 |
| 5 | September 30, 2027 | 3,75,00,000.00 |
| 6 | December 31, 2027 | 3,75,00,000.00 |
| 7 | March 31, 2028 | 3,75,00,000.00 |
| 8 | June 30, 2028 | 3,75,00,000.00 |
| 9 | September 30, 2028 | 3,75,00,000.00 |
| 10 | December 31, 2028 | 3,75,00,000.00 |
| 11 | March 31, 2029 | 3,75,00,000.00 |
| 12 | June 30, 2029 | 3,75,00,000.00 |
| 13 | September 30, 2029 | 5,00,00,000.00 |
| 14 | December 31, 2029 | 5,00,00,000.00 |
| 15 | March 31, 2030 | 5,00,00,000.00 |
| 16 | June 30, 2030 | 5,00,00,000.00 |
| 17 | September 30, 2030 | 5,00,00,000.00 |
| 18 | December 31, 2030 | 5,00,00,000.00 |
| 19 | March 31, 2031 | 5,00,00,000.00 |
| 20 | June 30, 2031 | 5,00,00,000.00 |
| 21 | September 30, 2031 | 6,25,00,000.00 |
| 22 | December 31, 2031 | 6,25,00,000.00 |
| 23 | March 31, 2032 | 6,25,00,000.00 |
| 24 | June 30, 2032 | 6,25,00,000.00 |
| 25 | September 30, 2032 | 6,25,00,000.00 |
| 26 | December 31, 2032 | 6,25,00,000.00 |
| 27 | March 31, 2033 | 6,25,00,000.00 |
| 28 | June 30, 2033 | 6,25,00,000.00 |
| 29 | September 30, 2033 | 7,50,00,000.00 |
| 30 | December 31, 2033 | 7,50,00,000.00 |
| 31 | March 31, 2034 | 7,50,00,000.00 |
| 32 | June 30, 2034 | 7,50,00,000.00 |
| 33 | September 30, 2034 | 7,50,00,000.00 |
| 34 | December 31, 2034 | 7,50,00,000.00 |
| 35 | March 31, 2035 | 10,00,00,000.00 |
| 36 | June 30, 2035 | 10,00,00,000.00 |
| 37 | September 30, 2035 | 10,00,00,000.00 |
| 38 | December 31, 2035 | 10,00,00,000.00 |
| 39 | March 31, 2036 | 10,00,00,000.00 |
| 40 | June 30, 2036 | 10,00,00,000.00 |
Total Principal Repayment: ₹2,50,00,00,000.00
Additional Information
Security Cover: Maintained at 1.25x throughout tenure
Default Provisions: Additional 2% interest payable on overdue amounts
Call/Put Option: Exercisable after 3 years at par value
Payment History: N.A. (no previous payment/non-payment comments)
Redemption Details: N.A. (not applicable for preference shares)
Cancellation: N.A. (no cancellation of proposal)