The NCDs have a face value of Rs 1,000 each for an amount of up to Rs 100 million along with a green shoe option of up to another Rs 100 million, adding to the total issue size of Rs 200 million. .
The issue is scheduled to open on October 7 and close on October 18.
At least 75% of the funds raised through the issue will be utilized for repayment/prepayment of interest and principal of the existing borrowings of the company and the balance for general corporate purposes, subject to such utilization not exceeding 25 % of the amount raised in the issue. affair.
The NCDs proposed to be issued under the issue have been rated as “CRISIL A+/ Surveillance Negative (placed under ‘Surveillance Rating with Negative Implications’) by CRISIL Ratings.
Securities with these ratings are considered to have an adequate degree of security with respect to the timely payment of financial obligations. These securities carry a low credit risk. The Issue has 12 series of NCDs with fixed coupons and tenure of 24 months, 36 months, 60 months and 120 months with annual, monthly and cumulative interest options with a staggered repayment option in Series IX and XII. The annual effective interest yield of the NCD ranges between 9.50% pa and 11.00% pa
Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited and Tipsons Consultancy Services Private Limited are the lead managers of the issue.
The NCDs will be listed on BSE Limited to provide liquidity to investors.
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