Date: September 11, 2026
Board Meeting Outcomes
The Capital Structuring & Fund Raise Committee (CSFRC) of the Board, acting under delegated authority from the Board of Directors, met on September 11, 2026 (9:30 a.m. to 10:45 a.m. IST) and approved the following:
- Issuance of Rated, Listed, Unsecured, Subordinated, Redeemable, Lower Tier II bonds in the form of Non-Convertible Debentures with face value of ₹1,00,000 each
- Aggregate issue size: ₹200 crore base issue + up to ₹100 crore green shoe option (totaling up to ₹300 crore)
- Total number of securities: Up to 30,000 NCDs
- Issuance to be made on private placement basis to eligible investors in one or more tranches
- Tenure: 7 years from deemed date of allotment
- Coupon: Up to 11.75% per annum payable quarterly
- Security: Unsecured (no charge created over assets)
- Approval of Draft General Information Document (GID) and Key Information Document (KID) as per SEBI regulations
- Authorization to apply to BSE Limited for in-principle approval for listing on Wholesale Debt Market segment
- Issuance to be undertaken through electronic book mechanism on Electronic Book Provider platform
Additional Details
- No special rights/privileges attached to the instrument
- No delay in payment of interest/principal anticipated
- No comments regarding payment/non-payment issues
- No cancellation or termination of proposal
- Disclosure made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Next Steps
Subject to receipt of in-principle approval from BSE Limited and other statutory/regulatory approvals as required.