Nature and Purpose of the Meeting
The Debenture Issue and Allotment Committee of the Board of Directors met to approve the issuance and allotment of Non-Convertible Debentures (NCDs) through private placement for fund-raising purposes.
Details of Resolutions Passed
- Approved issuance of Senior, Secured, Rated, Listed, Redeemable, Taxable, Transferrable, Non-Convertible Debentures
- Total amount: Up to ₹200 Crores (Rupees Two Hundred Crores only)
- Quantity: Up to 2,00,000 NCDs of face value ₹10,000 each
- Pricing: Coupon Rate of 9.25% per annum
- Tenure: 36 months
- Deemed Date of Allotment: October 14, 2026
- Deemed Date of Maturity: October 14, 2029
- Interest Payment: Monthly frequency
- Principal Payment: Bullet repayment at maturity
Financial Impact
- Total capital to be raised: Up to ₹200 Crores
- Security: Pari Passu charge with existing secured creditors on standard loan receivables and current assets (both present and future)
- Minimum asset coverage ratio: 1.1 times of outstanding debenture amounts
Timing of the Meeting
- Commenced: 03:30 p.m.
- Concluded: 4:15 p.m.
- Date: Saturday, October 03, 2026
Compliance References
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Additional Material Disclosures
- Stock Exchange Listing: BSE Limited
- Special Features: Step-up in coupon of up to 25 basis points for each notch downgrade from current 'AA-' rating; step-down for upgrades
- Default Interest: 2% above Coupon Rate per annum for default periods
- No previous payment defaults or comments on security/assets (Not Applicable)
Information Not Covered
- Specific use of proceeds from the fund raise
- Details of specific investors or allocation percentages
- Exact redemption terms beyond the maturity date