Allotment of 95 perpetual unsecured NCDs worth INR 95,00,00,000 at 9.90% p.a

The Finance Committee approved allotment of 95 Perpetual, Unsecured, Listed, Rated NCDs (Series PDI-2) of face value INR 1,00,00,000 each, totalling INR 95,00,00,000, on a private placement basis.

Wed 30 Sep 2026

Issue Size

INR 95,00,00,000

Number of NCDs

95

Face Value per NCD

INR 1,00,00,000

Coupon Rate

9.90% p.a.

Allotment Date

September 30, 2026

What was announced

The Finance Committee of the Board, by resolution dated September 30, 2026, approved the allotment of 95 Perpetual, Unsecured, Listed, Rated Non-Convertible Debentures under Series PDI-2, on a private placement basis and in dematerialised form.

Key terms

• Face value per NCD: INR 1,00,00,000
• Total issue size: INR 95,00,00,000
• Coupon: 9.90% p.a.
• Date of allotment: September 30, 2026
• Tenor: Perpetual; no maturity date
• Call option: only after expiry of at least 10 (ten) years from the deemed date of allotment, with prior RBI approval
• Charge or security created over assets: Not applicable (unsecured)
• Proposed listing: National Stock Exchange of India Limited

Interest schedule

Interest is payable annually on September 30 of each year from 2027 through 2036, with the 2036 date assuming the call option is exercised subject to receipt of regulatory approvals.

Default clause

If there is a default or delay in payment of interest or coupon, or in redemption of principal on the due dates, the company shall pay additional interest at 2% p.a. over the coupon rate for the defaulting period.

How to read this

This is a routine fund-raising step for a lending company. Perpetual debt instruments of this kind are commonly used by NBFCs as a long-term capital source. Being unsecured and perpetual, they carry a higher coupon than typical secured borrowings. The update records no cancellation or termination of the issuance proposal and no adverse comments on payment of interest or principal.

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