Allotment of 350 Secured NCDs Worth INR 3,50,00,000 on Private Placement to LC Venture Debt Fund

The Allotment Committee approved allotment of 350 listed, secured, rated, redeemable Non-Convertible Debentures on a private placement basis.

Thu 1 Oct 2026

Issue Size

INR 3,50,00,000

Number of NCDs

350

Face Value Per NCD

INR 1,00,000

Coupon Rate

1.00%

Tenor

18 Months (allotment 1st October 2026, redemption 1st April 2028)

What was decided

The Allotment Committee met on 1st October 2026 (11:00 A.M. to 11:30 A.M.) and approved the allotment of 350 1% Listed, Secured, Rated, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis to identified investors.

Size and terms

• Face value: INR 1,00,000 per debenture
• Issue size and allotted issue size: INR 3,50,00,000
• Coupon rate: 1.00%
• Tenor: 18 Months
• Date of allotment: 1st October 2026; redemption/maturity: 1st April 2028
• Interest of 1,501 per debenture of Rs 100,000 is shown for a coupon period of 548 days, with principal of 1,00,000 repaid on 01-04-2028

Who subscribed

The named allottee is LC VENTURE DEBT FUND. A private placement means the securities are offered to identified investors rather than to the public.

Security

The NCDs are secured by all current assets (excluding receivables given to other lenders on exclusive charge) and fixed assets of the company, both present and future, including receivables, IP and brand.

Default clause

If interest or principal is delayed by more than three months from the due date, or in case of default, an additional 2% per annum over and above the coupon rate applies on the default amount.

How to read this

This is a debt-raising step, not an equity issue, so there is no dilution for existing shareholders. The amount adds to the company's borrowings, which it must repay on maturity in April 2028. The debentures are proposed to be listed on BSE Limited. No special rights, interests or privileges are attached to the instrument.

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