Corrigendum: NCD allotment revised to 1,900 NCDs aggregating Rs. 1,90,00,000

Corrigendum: the company has revised its earlier disclosure of the NCD allotment after an inadvertent clerical oversight.

Sat 10 Oct 2026

NCD Allotment (Corrected)

1,900 NCDs of face value Rs. 10,000 each, aggregating Rs. 1,90,00,000

NCD Allotment (Earlier, Erroneous)

2,000 NCDs aggregating Rs. 2,00,00,000

Coupon Rates

12.00% (Series I, 3 Years) and 12.50% (Series II, 5 Years)

Corrigendum to the board meeting outcome

• The Board Meeting was held on Thursday, October 01, 2026.
• An inadvertent clerical oversight occurred in Item No. 1 and Annexure I of the earlier outcome, concerning the number and aggregate issue size of the Non-Convertible Debentures allotted by the company.
• The earlier figure of 2,000 NCDs aggregating Rs. 2,00,00,000 (Rupees Two Crores Only) has been corrected to 1,900 NCDs aggregating Rs. 1,90,00,000 (Rupees One Crore Ninety Lakhs Only).
• The correction is limited to the number and aggregate value of NCDs allotted. All other particulars, terms, conditions and resolutions passed at the Board Meeting, including Item No. 2, remain unchanged.

What the NCDs are

• Secured, Unlisted, Unrated, Redeemable Non-Convertible Debentures of face value Rs. 10,000 each, allotted on a private placement basis.
• The revised allotment approved is 1,900 such NCDs, aggregating Rs. 1,90,00,000.
• The NCDs are not proposed to be listed.

Key terms from the term sheet

• Two series were issued: Series I and Series II.
• Coupon rate: 12.00% for Series I and 12.50% for Series II, both fixed and simple.
• Floor value / cap value: 10,000; redemption amount is 10,000 per NCD for debenture holders.
• Interest is paid monthly, on the 1st day of every month starting November 2026, with the last interest payment on maturity.
• Tenure of the instrument: 3 Years for Series I and 5 Years for Series II.
• Allotment date: 01.10.2026. Redemption date: 01.10.2029 for Series I and 01.10.2031 for Series II.

Security and charge

• The NCDs constitute direct and secured obligations of the company and are secured by a first ranking pari passu charge with existing secured creditors on all movable assets, including book debts and receivables, cash and bank balances, other movable assets, loans and advances, both present and future, equal to one time of the NCDs outstanding plus interest accrued thereon, subject to applicable statutory and regulatory requirements.

Board approval for borrowing

• The Board authorised the Managing Director to avail financial assistance/loan facilities required for the company from Shriram Finance Limited up to an aggregate limit of Rs. 5,00,00,000 (Rupees Five Crore only), under Section 180(1)(c) of the Companies Act, 2013.

How a retail investor can read this

• A corrigendum of this kind corrects a previously shared disclosure rather than announcing a fresh transaction. The final approved allotment figure is 1,900 NCDs for Rs. 1,90,00,000.
• Issuing NCDs is a borrowing by the company. It carries fixed coupons of 12.00% and 12.50% and is secured on the company's movable assets.
• Since the NCDs are unlisted and allotted on a private placement basis, they are not available for trading on the exchange.

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