Prospectus approved for public issue of secured NCDs of up to Rs. 15,000 lakh

The NCD Committee approved the Prospectus for a public issue of secured, rated, listed, redeemable non-convertible debentures.

Mon 28 Sep 2026

Issue Size

Base Issue Size up to Rs. 7,500 Lakh with green shoe option up to Rs. 7,500 Lakh, aggregating up to ₹ 15,000 lakh

Face Value

Rs. 1,000 each

Credit Rating

ICRA A Stable

Security Cover

At least 110% of outstanding principal and interest

Listing

Proposed to list on BSE Limited with in-principle approval received

What happened

The Non-convertible Debenture Committee of the Board met on September 28, 2026 and approved the Prospectus for a public issue of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures. This follows earlier intimations dated July 26, 2026 and September 15, 2026.

Size of the issue

• Face value: Rs. 1,000/- each
• Base Issue Size: up to Rs. 7,500 Lakh
• Green Shoe Option (retain oversubscription): up to Rs. 7,500 Lakh
• Aggregating up to 15,00,000 NCDs for up to ₹ 15,000 lakh

Rating and security

ICRA Limited has rated the NCDs 'ICRA A Stable' for an amount of up to ₹ 51,279 Lakh, by letter dated September 14, 2026. The principal plus interest will be secured by a pari passu charge over the Trade Receivables and MTF (margin trading facility) book of the Company, in favour of the Debenture Trustee, with a security cover of at least 110% of outstanding principal and interest maintained at all times until final settlement. The NCDs rank pari passu among themselves, with payment priority as per the applicable redemption date.

Listing

The NCDs are proposed to be listed on BSE Limited, which is the Designated Stock Exchange for this issue. The Company has received in-principle approval from BSE by letter dated September 18, 2026.

Other disclosures

• No special rights, interest or privileges are attached to the instrument.
• The Company reported no delay beyond three months, and no default, in payment of interest or principal.
• Tenor, coupon, redemption amount, redemption date and the schedule of interest and principal payment are as specified in the Prospectus dated September 28, 2026.

The Prospectus will be shared with the Registrar of Companies (NCT of Delhi and Haryana), SEBI and BSE, and will be available on the websites of SEBI, BSE, NSE and the Company.

How to read this

A public NCD issue is a way for the company to raise debt directly from investors, including retail investors, rather than only from banks. For equity shareholders, this is a fund-raising step that adds to borrowings rather than diluting shareholding. The committee meeting commenced at 6:00 pm and concluded at 6:30 pm.

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