The meeting, which commenced at 08:10 p.m. and concluded at 09:20 p.m., approved the raising of additional funds aggregating up to ₹1,170 crores through the issuance of additional senior, secured, redeemable, unrated, unlisted non-convertible debentures (NCDs) on a private placement basis.
This approval increases the overall issue size from the previously approved up to ₹400 crores (intimated on January 29, 2026) to up to ₹1,570 crores. The NCDs have a face value of ₹1,00,000 each and will be issued in one or more tranches, part of tranches, and/or series.
The approval is an enabling authorization, and actual issuance will be based on the Company's requirements for purposes such as refinancing of existing indebtedness, project construction, working capital requirements, and/or other general corporate purposes.
Key Terms from Annexure A:
- Type of Security: Senior, secured, redeemable, unrated, unlisted non-convertible debentures
- Face Value: ₹1,00,000 per debenture
- Type of Issuance: Private placement
- Total Issue Size: Up to ₹1,570 crores (including previously approved issuance)
- Listing: Not proposed to be listed at any stock exchange
- Tenure: To be decided by Board's constituted committee
- Coupon/Interest: To be decided by Board's constituted committee
- Security: Secured by a charge on identified assets of the Company and/or its subsidiaries
- Redemption Details: To be mutually agreed upon between relevant parties
No delays, defaults, or cancellations regarding the issuance are applicable as per the disclosure.