The Board approved the allotment of the first tranche of Secured, Unlisted, Unrated, Redeemable, Non-Convertible Debentures (NCDs) on a private placement basis. The meeting commenced at 1:00 PM and concluded at 1:45 PM.
Key Details of NCD Issuance:
Total Issue Size:
- 1,050 NCDs of ₹10,00,000 each aggregating to ₹105 crore (One Hundred Five Crores)
Tranche Structure:
- Tranche 1: 650 Debentures (₹65 crores) - with ₹55 crores allotted on 04.08.2026 and subsequent ₹10 crores to be allotted
- Tranche 2: 150 Debentures (₹15 crores)
- Tranche 3: 250 Debentures (₹25 crores)
First Tranche Allotment:
- Date of Allotment: 04th August, 2026
- Number of NCDs allotted: 550
- Face value: ₹10,00,000 each
- Total amount: ₹55,00,00,000 (Fifty-Five Crores)
- Subscription money received: ₹55,00,00,000
Instrument Terms:
- Type: Secured, Unlisted, Redeemable, Non-Convertible Debentures
- Tenure: 36 months
- Coupon Interest: 10% per annum payable monthly
- Redemption Premium: 6.0% per annum per quarter compounded quarterly, payable at time of principal repayments
Repayment Schedule for Tranche 1:
- 1st Repayment: 50% at 18 months
- 2nd Repayment: 50% at 36 months
Security:
- Mortgage/Hypothecation/pledge of the company's assets in favour of the Debenture Trustee through Security Documents
Default Provisions:
- Default interest at 3% per annum over the relevant Cash Coupon on defaulted amounts from due dates until payment
The balance amount of the First Tranche (₹10 crores) along with the remaining tranches (Tranche 2 and 3 totaling ₹40 crores) will be considered for allotment upon receipt of balance subscription monies and in accordance with the terms of the issue and applicable laws.
The disclosure was made pursuant to SEBI Circular No. SEBI/HO/CFD/CFDPoDP/CIR/2023/123 dated July 13, 2023.