Quantitative Correction Details
The error occurred in Item No. 1 and Annexure I concerning the Non-Convertible Debentures (NCDs) allotment. The number of NCDs was incorrectly mentioned as 2,000 aggregating to ₹2,00,00,000 (Two Crores) instead of the correct number of 1,900 NCDs aggregating to ₹1,90,00,000 (One Crore Ninety Lakhs).
Revised Board Meeting Outcomes
1. Allotment of Non-Convertible Debentures (NCDs)
The Board approved the allotment of 1,900 Secured, Unlisted, Unrated, Redeemable Non-Convertible Debentures of face value ₹10,000 each on a private placement basis, aggregating to ₹1,90,00,000.
2. Authorization to Managing Director
The Board authorized the Managing Director to avail financial assistance/loan facilities from Shriram Finance Limited up to an aggregate limit of ₹5,00,00,000 (Five Crore) under Section 180(1)(c) of the Companies Act, 2013.
NCD Instrument Details (Annexure I & II)
Type of Securities: Secured Non-Convertible Debentures (NCDs)
Type of Issuance: Private Placement Basis
Listing: Not proposed to be listed
Face Value: ₹10,000 per NCD
Security: Secured by first ranking pari passu charge with existing secured creditors on movable assets including book debts, receivables, cash and bank balances, other movable assets, loans and advances (both present and future)
Series I Terms:
- Coupon Rate: 12.00% fixed, simple interest
- Interest Payment: Monthly on 1st day of every month
- Tenure: 3 years
- Allotment Date: 01.10.2026
- Maturity Date: 01.10.2029
- Redemption Amount: ₹10,000 per NCD
Series II Terms:
- Coupon Rate: 12.50% fixed, simple interest
- Interest Payment: Monthly on 1st day of every month
- Tenure: 5 years
- Allotment Date: 01.10.2026
- Maturity Date: 01.10.2031
- Redemption Amount: ₹10,000 per NCD