Key Quantitative Figures

  • Number of Debentures Allotted: 250 Tranche 3 Series E NCDs
  • Face Value per Debenture: ₹5,00,000 (Rupees Five Lakh)
  • Total Issue Size: ₹12,50,00,000 (Rupees Twelve Crores Fifty Lakhs)
  • Interest Rate: 11.50% per annum
  • Tenure: 42 months from deemed date of allotment

Parties Involved

  • Issuer: Himatsingka Seide Limited
  • Approving Authority: Securities Committee of the Board of Directors

Instrument Details

  • Type: Unlisted, Senior, Secured, Unrated, Redeemable, Taxable Transferable Non-Convertible Debentures
  • Denomination: Indian Rupees
  • Issue Price: At par
  • Placement Method: Private placement to eligible investors

Payment Structure

  • Interest Payment: Quarterly at 11.50% p.a.
  • Principal Repayment: Three instalments at end of 30 months, 36 months, and 42 months

Security Details

  • First pari passu charge by way of registered/equitable mortgage and deed of hypothecation over entire immovable and movable fixed assets (present and future) at manufacturing plants in Hassan and Doddaballapur, Karnataka
  • Negative lien over land admeasuring 4.85 acres located at Sy No. 25, 17/1, 17/2 & 23 at Hassan manufacturing facility
  • Exclusive charge over Subscription Escrow Account
  • Demand Promissory Note and Letter of Continuity

Default Provisions

  • Delay in payment of interest/principal beyond three months from due date: 2% penalty

Additional Information

  • No special rights/privileges attached to instrument
  • No history of payment/non-payment comments
  • No cancellation or termination of proposal
  • Financial impact: Cash inflow of ₹12.5 crore through debt financing