Key Details of the Allotment

  • Total Number of Securities Allotted: 65,000 NCDs
  • Face Value per NCD: ₹1,00,000
  • Aggregate Nominal Value: ₹650,00,00,000 (Indian Rupees Six Hundred Fifty Crores Only)
  • Form: Dematerialised form
  • Consideration: Cash
  • Date of Allotment: September 18, 2026
  • Allottees: Identified investors

Instrument Characteristics

  • Type: Senior, secured, rated, listed, redeemable, non-convertible debentures
  • Issuance Type: Private placement
  • Original Tenor: 1179 days
  • Residual Tenor: 1106 days (as of allotment date)
  • Date of Maturity/Redemption: September 28, 2029
  • Coupon Rate: 7.8384% per annum

Coupon Payment Schedule

  • Next Coupon Payment: September 28, 2027 (₹7,838.4000 per NCD)
  • Second Coupon: September 28, 2028 (₹7,838.4000 per NCD)
  • Third Coupon: September 28, 2029 (₹7,838.4000 per NCD)
  • Interest payments will be rounded off to the nearest rupee
  • In case of holidays, payments follow Business Day Convention as per Key Information Document

Principal Payment Schedule

  • Principal Due Date: September 28, 2029
  • Principal Amount: ₹1,00,000.0000 per NCD
  • Redemption Price: ₹1,00,000 (Rupees One Lakh Only) per NCD at maturity

Security Details

The debentures are secured by:

  • Exclusive first ranking charge by way of hypothecation over identified fixed deposits of the Issuer
  • Exclusive first ranking charge by way of hypothecation on identified standard receivables ("Hypothecated Assets") of the Issuer
  • Security coverage equivalent to 1 time of the principal amount and coupon outstanding

Default Provisions

In case of default in payment of coupon and/or principal redemption beyond three months from due date:

  • Additional interest of 2% p.a. over the coupon rate shall be payable
  • Default interest applies for the entire defaulting period

Listing Arrangements

The Debentures are proposed to be listed on the Negotiated Trade Reporting Platform ("NTRP") under New Debt Market of the National Stock Exchange of India Limited.

Base Issue and Green Shoe Option

The issuance had a base issue size of ₹650 crore with an option to retain oversubscription up to 1,85,000 NCDs (₹1,850 crore green shoe option), collectively aggregating up to ₹2,500 crore.