Board approves fund raise of up to Rs. 140 crore, Rs. 100 crore via 11.90% NCDs; Q2 loss Rs. 455.13 lakh
Board meeting held on Tuesday, November 03, 2026 cleared two items.
By ScoutQuest · · 3 min read
- Fund raise approved
- up to INR 140 Crore
- NCD terms
- 10,000 units of INR 1,00,000 each, 11.90% coupon paid monthly, 50-month tenure
- Q2 standalone
- revenue Rs. 7,180.93 lakh, loss Rs. 455.13 lakh
Two decisions came out of the board meeting held on Tuesday, November 03, 2026: a proposal to raise funds, and approval of the unaudited results for the quarter and half year ended September 30, 2026.
Fund raise
- The board approved a proposal for raising funds aggregating up to INR 140 Crore.
- Of this, INR 100 Crore is proposed to be raised initially through the issuance of Non-Convertible Debentures (NCDs) to identified investors on a private placement basis.
- The stated purpose is refinancing the existing acquisition debt.
- The balance amount of up to INR 40 Crore shall be raised in due course.
The NCD terms
- 10,000 NCDs of face value INR 1,00,000 each, aggregating INR 100,00,00,000.
- Listed, rated, senior, secured, redeemable, taxable and transferable; proposed to be listed on the wholesale debt segment of BSE Limited.
- Coupon of 11.90% per annum, paid monthly, on the 25th of every month.
- Tenure of 50 months from the deemed date of allotment of 25 November 2026, maturing on 25 January 2031.
- Redemption at par of INR 1,00,000 per debenture; principal repaid in instalments, starting with 3.80% of principal on 05-02-2027 and rising to 7.91% by 30-01-2031.
- If interest or principal is delayed by more than three months, an additional coupon of 2% p.a. applies from the date of default until it is rectified.
What backs the NCDs
- A first ranking pari passu charge by way of hypothecation, along with existing lenders, on movable fixed and current assets including book debts, trade receivables, contract assets, stock in trade, inventory, unencumbered cash equivalents, supplier advances and intangibles, present and future.
- A first ranking pari passu charge by way of equitable or registered mortgage on identified immovable properties of the company and the corporate guarantor.
- A first ranking pari passu charge by way of pledge of the company's equity shareholding in Dexit Global Limited, to the extent of 70% of the aggregate share capital held by the company on a fully diluted basis.
- An unconditional and irrevocable corporate guarantee by Career Launcher Infrastructure Pvt Ltd, a 100% subsidiary.
- The update also lists a general lien and set-off right over the company's assets, and a restriction on transfer or creation of further encumbrances over the secured assets without the security trustee's prior written consent.
Quarterly results (standalone, unaudited)
- Revenue from operations of Rs. 7,180.93 lakh for the quarter, against Rs. 7,402.38 lakh in the same quarter a year earlier.
- Loss for the quarter of Rs. 455.13 lakh, against a loss of Rs. 275.03 lakh a year earlier.
- Loss for the half year of Rs. 856.69 lakh; total comprehensive loss for the half year of Rs. 855.99 lakh.
- Basic and diluted loss per share of Rs. 0.85 for the quarter.
- Total assets of Rs. 59,827.76 lakh as at September 30, 2026.
- The limited review report carries an unmodified opinion.
How a retail investor can read it
A fresh borrowing of up to INR 100 Crore at an 11.90% annual coupon is being taken to refinance debt taken earlier for an acquisition. The new debentures are secured against the company's movable and immovable assets and against a 70% pledge of the company's holding in Dexit Global Limited, with a subsidiary guarantee. At the same time, the quarterly statement shows a loss for the quarter and for the half year, so the cost of this borrowing and the earnings trend are the two things to track together.
Also from CL Educate
Board approves raising up to INR 140 crore; INR 100 crore via NCDs to refinance acquisition debt
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Consolidated results for the For the quarter ended September 30, 2026 (Unaudited)
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More numbers
- Fund raise approved (up to)INR 140 Crore
- NCD issue sizeINR 100 Crores
- Number of NCDs proposed to be issued10,000
- Face value per NCDINR 1,00,000
- Coupon rate per annum11.90%
- NCD tenure50 (Fifty) months
- Revenue from operations, quarter ended September 30, 2026 (Rs. in lakh)7,180.93
- Loss for the quarter ended September 30, 2026 (Rs. in lakh)(455.13)
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