The meeting of the Finance Committee constituted by the Board of Directors of the Company was held on August 24, 2026. During this meeting, the Committee allotted 9,000 (Nine Thousand) Rated, Unsubordinated, Listed, Secured, Transferable Redeemable Non-Convertible Debentures (NCDs) of ₹1,00,000 each, aggregating to ₹90,00,00,000 (Ninety Crore Rupees) on a private placement basis.

Key Terms of the NCD Issuance

  • Type of Instrument: Redeemable Non-Convertible Debentures (NCDs)
  • Basis of Issuance: Private Placement
  • Tenure: 27 months and 4 days
  • Date of Allotment: August 24, 2026
  • Date of Maturity: November 28, 2028
  • Coupon/Interest Rate: 10.60% per annum
  • Proposed Listing: The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.

Payment Schedule

Principal and interest payments are scheduled quarterly on the following dates:

  • November 28, 2026
  • February 28, 2027
  • May 28, 2027
  • August 28, 2027
  • November 28, 2027
  • February 28, 2028
  • May 28, 2028
  • August 28, 2028
  • November 28, 2028

Security Details

The Debentures are secured by way of a first ranking, exclusive, and continuing charge on identified receivables ("Hypothecated Book Debts"/ "Hypothecated Assets") created pursuant to a deed of hypothecation executed between the Company and the Debenture Trustee. The value of the Hypothecated Book Debts shall, at all times, be maintained at 1.1 times the outstanding amount of the Debentures.

Default Interest

In case of a delay in payment of interest or principal for a period of more than three months from the due date, a default interest rate of 2.00% over the Coupon Rate will be applicable until the default is cured.

Additional Information

  • The instrument carries no special rights, interests, or privileges.
  • There are no letters or comments regarding payment/non-payment from any authority (Not Applicable).
  • Redemption will be carried out in accordance with the Debenture Trust Deed.

The disclosure is made in compliance with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and references the Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

The intimation was signed by Bhavisha Jain, Company Secretary & Compliance Officer, and addressed to the National Stock Exchange of India Ltd. and BSE Limited.