CECL Educate540403NCD issuance

Board approves raising up to INR 140 crore; INR 100 crore via NCDs to refinance acquisition debt

Board approved raising funds aggregating up to INR 140 Crore, with INR 100 Crore proposed first through NCDs on a private placement basis.

By ScoutQuest · Tue 3 Nov 2026, 6:47 PM IST · 3 min read

Total fund raise approved

up to INR 140 Crore

NCD issue size and face value

10,000 NCDs of face value INR 1,00,000/- each, aggregating up to INR 100,00,00,000/-

Coupon and tenure

11.90% per annum, paid monthly; tenure 50 months, maturing 25 January 2031

What the board approved

• A fund raise of up to INR 140 Crore, of which INR 100 Crore is proposed to be raised initially through Non-Convertible Debentures on a private placement basis.
• The stated purpose of the NCD money is refinancing the existing acquisition debt.
• The balance of up to INR 40 Crore is to be raised in due course.

Terms of the NCD issue

• Instrument: listed, rated, senior, secured, redeemable, taxable, transferable NCDs, issued to eligible investors on a private placement basis (not a preferential allotment).
• Size: 10,000 NCDs of face value INR 1,00,000/- each, aggregating up to INR 100,00,00,000/-.
• Coupon: 11.90% per annum, paid monthly, on the 25th of every month.
• Tenure: 50 months from the deemed date of allotment of 25 November 2026; maturity on 25 January 2031.
• Redemption at par, i.e. INR 1,00,000/- per debenture, on the final maturity date.
• Proposed listing: wholesale debt segment of BSE Limited.

How the principal is repaid

The principal is repaid in instalments rather than all at the end. The schedule shows repayment of 3.80% of principal on each of four dates starting 05-02-2027, then 5.70% on four dates starting 05-05-2028, then 6.65% on four dates starting 05-05-2029, and finally 7.91% on four dates ending 05-01-2031, totalling 100% and 1,00,00,00,000 in rupees.

What secures the debentures

• A first ranking pari passu charge, along with the company's existing lenders, by way of hypothecation on the entire movable fixed assets and current assets, both present and future, including book debts, trade receivables, contract assets, stock in trade, inventory, unencumbered cash equivalents, supplier advances and trademarks/IP and other intangibles.
• A first ranking pari passu charge by way of equitable/registered mortgage, along with existing lenders, 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 of that company held by the company on a fully diluted basis.
• An unconditional and irrevocable corporate guarantee from the company's 100% subsidiary, Career Launcher Infrastructure Pvt Ltd, to the extent of the value of a specified property it owns in Raipur (C.G.).
• A general lien and set-off right on all assets on a first ranking pari passu basis, allowing the debenture trustee to recover outstanding amounts from sale of assets in the event of default.
• The secured assets cannot be transferred, sold, assigned or further encumbered in favour of a third party without the prior written consent of the security trustee.

If payment is delayed

• If interest or principal is delayed by more than three months from the due date, or there is a default in payment, an additional coupon of 2% p.a. over the coupon rate is payable from the date of default until it is rectified.

Other business at the same meeting

• The board also approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, including the statement of assets and liabilities and cash flow statement.
• These were reviewed and recommended by the audit committee, and the statutory auditor issued a limited review report with an unmodified opinion.

What this means for a retail investor

• The company is putting in place long-term borrowed money (up to 50 months) at a fixed coupon of 11.90% per annum with monthly interest payments, and says the first tranche will refinance existing acquisition debt.
• The lenders are taking security across the company's movable and immovable assets, a pledge over a majority of the company's holding in Dexit Global Limited, and a guarantee from a subsidiary.
• The NCDs are proposed to be listed on the BSE wholesale debt segment, which is a segment for institutional and large investors rather than the equity segment retail investors usually trade in.
• How this affects the company's finances depends on the terms of the debt being refinanced, which are not set out in this document; the disclosed terms above are the ones to track.

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