Board approves proposed fundraise of upto ₹130 crores via NCDs and OCDs

Board has approved a proposed fundraise of upto ₹130 crores.

Thu 1 Oct 2026

Fundraise Size

upto ₹130 crores

NCD Issue

Upto 300 NCDs of ₹10 lakh face value each, aggregating upto ₹30 crores, 36-month tenure

OCD Issue

Upto 1,000 OCDs of ₹10 lakh face value each, aggregating upto ₹100 crores, 18-month tenure

Coupon

13% per annum, compounded monthly, paid quarterly; plus 1.5% additional coupon on deemed date of allotment

Allottee / Basis

RevX Special Credit Opportunities Fund II on a private placement basis, in one or more tranches

Board approval for a proposed fundraise of upto ₹130 crores

GP Petroleums Ltd announced that its Board has approved a proposed fundraise of upto ₹130 crores through the issue of non-convertible debentures (NCDs) and optionally convertible debentures (OCDs). Both instruments are to be issued to RevX Special Credit Opportunities Fund II on a private placement basis.

The two instruments

• Upto 300 NCDs with a face value of ₹10 lakh each, aggregating upto ₹30 crores, for a duration of 36 months.
• Upto 1,000 OCDs with a face value of ₹10 lakh each, aggregating upto ₹100 crores, for a duration of 18 months.

Both instruments will be issued in one or more tranches.

Where the money is meant to go

The company states the proceeds will be used to finance its ongoing business expansion and to fulfil its working capital requirements. Mr. Dilip Vaswani, Non-Executive Director, GP Petroleums Ltd, said the proposed financing will provide the company with financial agility to accelerate its growth plans, both organic and inorganic, and reflects confidence in its strategic vision to strengthen its market position in the hydrocarbon space.

Cost and conversion terms

• The NCDs and OCDs carry a coupon rate of 13% per annum, compounded monthly and paid quarterly.
• The company will pay 1.5% of additional coupon on the deemed date of allotment.
• Equity shares arising from conversion of the OCDs are proposed to be listed on BSE and NSE.

What is subject to approvals

The OCD issue is subject to the necessary statutory approvals, including shareholders' consent through the upcoming postal ballot.

About the company

GP Petroleums Ltd manufactures and markets industrial and automotive lubricants, process oils, greases and other specialty products under the IPOL brand, serving industrial and automotive customers in India and overseas, with over five decades of industry presence.

What a retail investor can track

• The outcome of the postal ballot for shareholders' consent on the OCD issue.
• The terms on which the OCDs convert into equity shares, since that determines the eventual share issuance.
• The deployment of the funds into the stated expansion and working capital needs.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.