Key Decision

The Executive Committee of the Board of Directors, at its meeting held on August 04, 2026, approved the allotment of non-convertible debentures.

Instrument Details

  • Type: Senior, listed, secured, rated, redeemable, non-cumulative, taxable, transferable, non-convertible debentures
  • Quantity: 100,000 (One Lakh) debentures
  • Face Value: ₹10,000 per debenture
  • Total Issue Size: ₹100,00,00,000 (Rupees One Hundred Crores Only)
  • Placement Method: Private placement basis to eligible investors

Financial Terms

  • Tenure: 36 months (thirty six months) from date of allotment
  • Date of Allotment: August 4, 2026
  • Date of Maturity: August 4, 2029
  • Coupon Rate: 11.75% per annum
  • Coupon Payment Schedule: Payable monthly on the last day of each calendar month, commencing on August 31, 2026
  • Final Payment: Final coupon payable on redemption date (August 04, 2029) together with principal amount

Security Details

The debentures are secured by:

1. First ranking pari passu charge by way of hypotothecation over the issuer's all movable and immovable fixed assets

2. Exclusive charge over identified receivables

3. Exclusive lien and account control arrangement over escrow account and all amounts standing to the credit thereof

Security Cover Requirements

  • Minimum security cover of 1.0x until final settlement date
  • Security cover increases to 1.5x from 90 days after the date of allotment
  • Cover calculated against aggregate amounts outstanding under debentures including principal amounts, accrued but unpaid coupon and default interest

Default Provisions

  • Delay in payment of coupon/principal: Additional interest at 3% per annum over coupon rate until actual payment
  • Other events of default: Additional interest at 2% per annum over coupon rate from date of occurrence until cured
  • Failure to perfect security within 30 days: Additional interest at 3% per annum until security perfected
  • Failure to list within 3 business days: Additional interest at 1% per annum until listing

Redemption Terms

The Debentures shall be redeemed in full at par by way of a single bullet repayment on August 04, 2029, unless redeemed early under the terms of the Debenture Trust Deed.

Listing Details

The Debentures shall be listed on the Wholesale Debt Market segment of BSE Limited within statutory timelines.

Special Rights

There are no special rights, interests, or privileges attached to the Debentures other than those ordinarily applicable to similar listed non-convertible debentures issued in the normal course of business.