NCD Rs. 100 crores each for Rs. 1,000 has a face value of Rs. 100 crore green shoe option, totaling Rs. 200 crore consolidating issue size.
The issue will open on October 7 and close on October 18.
At least 75% of the funds raised through the issue will be used for payment/prepayment of interest and principal of existing borrowings of the company and the remaining amount for general corporate purposes, not exceeding 25% of the amount so raised. issue
The NCDs proposed to be issued under the issue have been rated “CRISIL A+/ Watch Negative (placed on ‘Rating Watch with Negative Implications’) by CRISIL Ratings.
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Securities with this rating are considered to have an adequate degree of safety regarding timely servicing of financial obligations. Such securities carry less credit risk.
The issue consists of 12 series NCDs with fixed coupons and tenors of 24 months, 36 months, 60 months and 120 months with annual, monthly and cumulative interest options with option of staggered redemption in Series IX and XII.
The effective annual interest yield on NCDs ranges from 9.50% pa to 11.00% pa
Trust Investment Advisors Private Limited, Nuwama Wealth Management Limited and Tipsons Consultancy Services Private Limited are the lead managers of the issue.
NCDs will be listed on BSE Limited to provide liquidity to investors.
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