Allotment approved: up to 1,000 senior, unsecured, USD-denominated non-convertible bonds

Committee approved allotment of up to 1,000 senior, unsecured, rated, listed USD-denominated non-convertible bonds.

Sat 10 Oct 2026

Issue Size

up to 1,000 bonds aggregating up to USD 10,000,000

Face Value per Bond

USD 10,000

Coupon & Tenure

450 bps + Term SOFR; 48-month tenure; listing proposed on India INX

Allotment of dollar-denominated bonds approved

The company's Investment and Borrowing Committee has approved the allotment of up to 1,000 senior, unsecured, rated, listed, US dollar denominated redeemable non-convertible bonds. Each bond has a face value of USD 10,000, taking the total issue size to up to USD 10,000,000. The issue is being done through private placement.

Key terms at a glance

• Type of security: senior, unsecured, rated, listed, redeemable, US dollar denominated non-convertible foreign currency bonds
• Face value per bond: USD 10,000
• Size of issue: up to USD 10,000,000
• Type of issue: private placement
• Listing: proposed on India International Exchange IFSC Limited
• Tenure: 48 months from the pay-in date of the bonds
• Pay-in date: September 29, 2026
• Deemed date of allotment: October 09, 2026
• Date of maturity: September 27, 2030 (after adjustment for non-business days)
• Charge or security created over assets: unsecured
• Special rights, interest or privileges attached: no

Interest and repayment

Coupon or interest rate is 450 basis points plus Term SOFR, to be determined on the quotation day. Interest is payable on a semi-annual basis.

Principal is to be repaid in equal instalments, with 100% of the outstanding principal amounts repaid on each of the following dates:

• the date falling on the expiry of thirty (30) months from the pay-in date
• thirty-six (36) months from the pay-in date
• forty-two (42) months from the pay-in date
• forty-eight (48) months from the pay-in date

If interest or principal remains unpaid for more than three months from the due date, or there is a default in payment of interest or principal, the coupon rate rises by 2.0% (Two Percent) per annum above the interest rate on the outstanding principal amount until the default is cured.

What investors may take from this

This is a fund-raising through foreign currency bonds. Because the bonds are unsecured, they do not create a charge over the company's assets, and they are described as senior in the update. No special rights or privileges are attached to the instrument.

The bonds are proposed to be listed on India International Exchange IFSC Limited, which is an exchange in the IFSC zone. The coupon is a floating rate, linked to Term SOFR plus a fixed spread, which means the interest cost moves with the benchmark rather than staying fixed. Repayment is staggered, starting after 30 months, which spreads the principal outflow over the later part of the bond's life.

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