The Board considered and approved the following agenda items:
1. NCD Issuance Approval
- Approval for issuance of 45,000 units of Secured, Rated, Listed, Non-Convertible Debentures (NCDs)
- Face Value: ₹10,000 per unit
- Total Issue Size: ₹45,00,00,000 (Forty-Five Crores Only)
- Issuance Method: Private placement basis
- Structure:
- Base Issue: 15,000 units aggregating to ₹15,00,00,000 (Fifteen Crores Only)
- Green Shoe Option: 30,000 units aggregating to ₹30,00,00,000 (Thirty Crores Only)
2. Trustee Appointment
- Appointment of Catalyst Trusteeship Limited as Trustee for the NCD issuance
3. Merchant Banker Appointment
- Appointment of Horizon Management Pvt Ltd as Merchant Banker for the NCD issuance
NCD Specific Details (From Annexure I):
- Type of Security: Secured, Rated, Listed, Non-Convertible Debentures
- Issuance Type: Private Placement
- Listing: Proposed to be listed on BSE Limited
- Tenure: 36 months from Deemed Date of Allotment
- Allotment Date: To be done after closure of Bidding Time on Settlement date, in compliance with SEBI Master Circular dated 15th October, 2025
- Maturity Date: 36 months from Actual Date of Allotment
- Interest Rate: 13.00% per annum
- Interest Payment Schedule: Monthly
- Principal Repayment Schedule:
- 25% repayment at end of 24th month
- 25% repayment at end of 30th month
- 50% repayment at end of 36th month
- Default Interest: 3% per annum over and above coupon rate on default amount for delays exceeding three months
- Security Cover: Minimum 1.35 times (135%) comprising 50% secured and 50% unsecured principal Loan Receivables
The disclosure was made under Regulation 30 read with Clause 2 of Para A of Part A of Schedule III of SEBI Listing Regulations and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.