JSCEL Allots Rs.110 Crore Unlisted NCDs on Private Placement to Kalpathi Promoters
JSCEL (Resulting Company under the Composite Scheme) allotted 11,000 senior, secured, unlisted NCDs of Rs.1,00,000 each, totalling Rs.110,00,00,000, to Kalpathi S Aghoram, Ganesh and Suresh.
By ScoutQuest · · 1 min read
- NCD Amount
- Rs.110,00,00,000
- Number of NCDs
- 11,000
- Face Value per NCD
- Rs.1,00,000
- Tenure
- 5 years
- Coupon Rate
- 0.001% per annum
What was disclosed
Veranda Learning Solutions informed the exchanges of a material update relating to J.K. Shah Commerce Education Limited (JSCEL), the Resulting Company under the Composite Scheme of Arrangement involving Veranda Learning Solutions, Veranda XL Learning Solutions Private Limited and JSCEL. Under the Observation Letters from NSE and BSE, Veranda must continuously disclose material information about JSCEL.
The debenture issue
- JSCEL allotted 11,000 senior, secured, redeemable, unrated and unlisted Non-Convertible Debentures.
- Face value Rs.1,00,000 each, aggregating Rs.110,00,00,000 (Rupees One Hundred and Ten Crores).
- Issued in dematerialised form on a private placement basis on September 24, 2026.
- Allotted to Mr. Kalpathi S Aghoram, Mr. Kalpathi S Ganesh and Mr. Kalpathi S Suresh.
Terms
- Tenure: 5 years from allotment; maturity September 23, 2031.
- Fixed coupon rate: 0.001% per annum, with coupon and principal payable on redemption.
- The NCDs are not proposed to be listed.
- Secured by a charge on all movable and immovable assets of JSCEL, with security cover maintained at a minimum of 1x of outstanding principal plus accrued interest at all times.
Use of proceeds
The money is to be used for closure of JSCEL's existing loan facility from RBL Bank Limited, and for general corporate purposes.
How to read this
This is a funding step at the Resulting Company level, effectively replacing bank borrowing with debentures subscribed by the named investors at a nominal coupon. The instrument is unlisted and secured against JSCEL's assets. The disclosure is part of the continuous information flow required around the Composite Scheme of Arrangement.
Also from Veranda Learning Solutions
Pledge over two subsidiary holdings created to secure Rs. 143 Crore NCDs
13 Oct 2026
Demerger: cost of acquisition of shares apportioned 64.50% to VLS and 35.50% to JSCEL
12 Oct 2026
JSCEL allots 9,65,06,610 equity shares to shareholders under composite scheme
7 Oct 2026
More numbers
- Number of NCDs allotted11,000 (Eleven Thousand)
- Face value per NCDRs.1,00,000
- Total issue sizeRs.110,00,00,000
- Tenure5 years
- Fixed coupon rate0.001% Per Annum
- Minimum security cover1x (one time)
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