Scrip Code / Symbol: BSE: 544273, NSE: MGEL (EQ)
Nature and Purpose of the Meeting
A meeting of the Management Committee of the Board of Directors was held to consider and approve the raising of funds through the issuance of Non-Convertible Debentures (NCDs).
Details of Resolutions Passed
The Committee approved the following:
- Issuance of Senior, Secured, Rated, Listed, taxable, redeemable, transferable Non-Convertible Debentures (NCDs) aggregating up to ₹150 Crores (Rupees One Hundred and Fifty Crores Only).
- The issuance will be conducted on a private placement basis.
- The NCDs will be issued in one or more series and/or tranches.
- The specific quantity, pricing, discounts, and allocation details for the NCDs were not determined in this meeting. The Committee will approve these terms and conditions at a future meeting.
Financial Impact
The total capital to be raised is up to ₹150 Crores. The document does not specify the intended use of proceeds.
Timing of the Meeting
The meeting commenced at 2:00 P.M. and concluded at 3:00 P.M. on Friday, October 16, 2026.
Compliance References
The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. It also references SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
Other Material Disclosures
- The Debenture Trustee for the issuance is MITCON Credentia Trusteeship Services Limited.
- The NCDs are proposed to be listed on the NSE Debt Segment.
- Key terms such as the tenure (date of allotment and maturity), coupon/interest rate, payment schedule, security/charge over assets, and special rights attached to the instrument are to be determined by the Committee in a future meeting.
- The document confirms there is no history of delay in payment of interest/principal for more than three months or default (Sr. No. 12 in Annexure-A).
- There are no cancellation or termination proposals for this issuance (Sr. No. 15 in Annexure-A).