Board approves NCD issue of up to ₹800 crore, seeks members' nod for ₹2,500 crore debt securities

Board approved issuing up to 80,000 non-convertible debentures of face value ₹1,00,000 each, aggregating up to ₹800 crore, on a private placement basis.

Mon 12 Oct 2026

NCD Issue Size

up to ₹800 crore

Number and Face Value of NCDs

up to 80,000 non-convertible debentures of face value ₹1,00,000 each

Members' Approval Limit

non-convertible debt securities up to ₹2,500 crore outstanding at any point of time, within one year of the resolution

Board Meeting Outcome

The board of the company met on October 12, 2026 and approved raising money through non-convertible debentures (NCDs) on a private placement basis. An NCD is a debt instrument: the company borrows money from investors and commits to pay interest and repay the principal on maturity. On a private placement basis means the debentures are offered to select investors rather than to the general public.

What the board approved

• Up to 80,000 fully paid-up, rupee denominated, secured / unsecured, listed, rated, redeemable and transferable NCDs
• Face value of ₹1,00,000 each
• Aggregating up to ₹800 crore
• To be issued on a private placement basis, in one or more tranches
• NCDs proposed to be listed on Bombay Stock Exchange Limited (BSE)

Key terms as stated in the disclosure

• Tenure: up to five years from the Deemed Date of Allotment
• Coupon / interest offered: as may be discovered during the bidding process
• Payment frequency: annually, monthly or early redemption date as applicable
• Charge / security created over the assets: as may be prescribed in the KID
• Special rights / interest / privileges: as may be specified in the relevant Information Memorandum / Key Terms of the issue

Members' approval being sought

Through a Special Resolution by Postal Ballot, approval of the members is being sought for issuance of non-convertible debt securities on a private placement basis, for an aggregate amount not exceeding ₹2,500 crore outstanding at any point of time, during a period of one year from the date of passing of the Special Resolution.

How to read the two numbers

The ₹800 crore figure is the specific NCD issue the board has approved, made up of 80,000 debentures of ₹1,00,000 face value each. The ₹2,500 crore figure is the outer limit of non-convertible debt securities the company would be authorised to keep outstanding at any point of time over one year, once members pass the resolution. The board meeting commenced at 11:00 A.M. and concluded at 12:15 P.M.

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.