Event Details
This disclosure serves as an intimation regarding the allotment of Series C Non-Convertible Debentures, following up on a previous intimation dated May 27, 2026. The Securities Committee of the Board of Directors approved the allotment on June 30, 2026.
Instrument Details
- Type: Series C Senior, Secured, Unlisted, Unrated, Redeemable, Taxable, Non-Convertible Debentures (NCDs)
- Number of Instruments: 1,000
- Face Value: ₹5,00,000 per NCD
- Total Issue Size: ₹50,00,00,000 (Fifty Crores)
- Issue Price: At par
- Placement Basis: Private placement
Key Terms & Conditions
- Coupon Rate: 11.50% per annum
- Interest Payment Frequency: Quarterly
- Tenure: 42 months from the deemed date of allotment
- Allotment Date: June 30, 2026
- Maturity Date: December 30, 2029
- Principal Repayment: Structured in three instalments payable at the end of 30 months, 36 months, and 42 months respectively
- Late Payment Penalty: 2% for delays exceeding three months from due date
Security Details
The NCDs are secured by:
1. First pari passu charge by way of registered/equitable mortgage and deed of hypothecation over the entire immovable and movable fixed assets (present and future) located at manufacturing plants in Hassan and Doddaballapur, Karnataka.
2. Negative lien over land admeasuring 4.85 acres located at Sy No. 25, 17/1, 17/2 & 23 at its Hassan manufacturing facility.
3. Exclusive charge over the Subscription Escrow Account.
4. Demand Promissory Note and Letter of Continuity.
Additional Information
- There are no special rights, privileges, or changes attached to the instrument.
- There are no existing letters or comments regarding payment/non-payment of interest or principal.
- The proposal has not been cancelled or terminated.
- The instruments are not proposed to be listed on any stock exchange.