Key Quantitative Figures
- Number of NCDs allotted: 255 Tranche 2 Series E NCDs
- Face value per NCD: ₹5,00,000
- Total issue size: ₹12,75,00,000 (Twelve Crores Seventy Five Lakhs)
- Interest rate: 11.50% per annum
- Tenure: 42 months
Parties Involved
- Issuer: Himatsingka Seide Limited
- Approving authority: Securities Committee of the Board of Directors
Terms and Conditions
Type of Instrument: Series E INR denominated, senior, secured, unrated, unlisted, redeemable, taxable, Non-Convertible Debentures
Issuance Method: Private placement to eligible investors
Interest Payment: 11.50% p.a. payable quarterly
Principal Repayment: Three instalments at end of 30 months, 36 months, and 42 months respectively
Security Arrangements:
- 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 the Subscription Escrow Account
- Demand Promissory Note and Letter of Continuity
Default Provisions: 2% penalty for delay in payment of interest/principal amount for more than three months from due date
Special Rights: None (NA)
Payment History: No previous comments regarding payment/non-payment of interest or principal
Corporate Details
Company Registration: CIN L17112KA1985PLC006647