The Board of Directors of the Company, via a resolution passed by circulation on August 4, 2026, approved the allotment of 2,00,000 unrated, unlisted, secured, redeemable non-convertible debentures. Each debenture has a face value of ₹1,000, resulting in an aggregate principal amount of ₹20,00,00,000 (Twenty Crores). The allotment was made on a private placement basis to identified investors.

Key Terms of the NCDs (Annexure A Disclosure):

  • Type of Security: Unrated, Unlisted, Secured, Redeemable, Non-Convertible Debentures.
  • Type of Issuance: Private Placement.
  • Total Number Allotted: 2,00,000 (Two Lakh) NCDs.
  • Size of Issue: ₹20,00,00,000 (Indian Rupees Twenty Crores Only) for Tranche 1.
  • Listing: The NCDs are not proposed to be listed on any stock exchange.
  • Tenure:
  • Date of Allotment: August 4, 2026
  • Date of Maturity: August 4, 2028
  • Coupon/Interest: 15.0% per annum, payable monthly.
  • Principal Repayment: A 6-month moratorium period, followed by equal monthly repayments starting from the 7th month from the date of disbursement.
  • Security: The outstanding amounts under the NCDs are secured by:
  • A first ranking pari-passu charge by way of hypothecation over all present and future movable assets (including current assets) of the Company.
  • A first ranking exclusive charge by way of a pledge over a specific number of shares held by the promoters (Pledged Shares). The value of these shares is determined based on the average daily closing price from the 7 trading days immediately preceding the allotment date (August 4, 2026). This pledge is to provide a security cover of 2 times (2x) the outstanding amounts under the NCDs as of the allotment date.
  • A first ranking pari-passu charge on all monies deposited in a designated escrow account, including proceeds from any future issuance of equity shares or equity-linked securities (including warrants) of the Company. The Company is mandated to deposit all such proceeds into this escrow account.
  • Personal guarantees from the promoters of the Company.
  • The total security cover must be maintained at a minimum of 2.00 times the aggregate outstanding amounts under the NCDs.
  • Default Interest: In case of a default or delay in interest/principal payment beyond three months from the due date, an additional interest of 2.0% per month will be charged on the overdue amounts for the delayed period, calculated from the original due date.
  • Redemption: The debentures are redeemable at maturity or subject to early redemption as per the terms of the transaction documents.
  • Special Rights: There are no special rights, interests, or privileges attached to the instrument.

There are no details of any letters of comments regarding payment defaults (NIL) and no cancellation of the issuance proposal (NA).

This intimation is made in compliance with the SEBI Master Circular reference number HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated July 11, 2023 (last updated January 30, 2026).