Vikran Engineering544496NCD issuance

Allotment of secured, unrated, unlisted, redeemable NCDs aggregating to ₹10,00,00,000

Vikran Engineering allotted NCDs totalling ₹10,00,00,000 (Rupees Ten Crores), Tranche 2.

By ScoutQuest · Tue 3 Nov 2026, 9:46 PM IST · 2 min read

NCD Issue Size (Tranche 2): ₹10,00,00,000 (Rupees Ten Crores)
Face Value / Coupon: Face value ₹ 10,00,000 each; coupon 11.40% p.a., paid monthly
Principal Repayment Schedule: 95% due 30th January 2027; 5% on 18th November 2027

What was approved

At its meeting held on 03rd November 2026, the Corporate Affairs Committee approved the allotment of Non-Convertible Debentures (NCDs) aggregating to ₹10,00,00,000 (Rupees Ten Crores only). This follows the earlier approval of the issue of secured, unrated, unlisted, redeemable, taxable, non-convertible debentures denominated in Indian Rupees.

Key terms of Tranche 2

Size of the issue: ₹ 10 Crores (Rupees Ten Crores Only)
Face value: ₹ 10,00,000 (Rupees Ten Lakh) per debenture
Coupon: fixed 11.40% p.a., with interest paid monthly
Security: the debentures are secured by a charge over assets
Listing: the debentures are not proposed to be listed on any stock exchange
Special rights, interest or privileges attached: Nil

Timeline and repayment

Date of allotment: 03rd November 2026
Date of maturity: 18th November 2027
Principal repayment is split into two parts: 95 Percent (95%) on 30th January 2027 and the remaining 5 Percent (5%) on 18th November 2027
On delay or default in payment of interest or principal: Not Applicable

What an NCD is

A non-convertible debenture is a loan given to a company that cannot be converted into shares. The investor is promised a fixed rate of interest and repayment of the principal on stated dates. Here the coupon is 11.40% p.a., paid every month, and the money comes back in two instalments rather than one lump sum at the end.

The words used in the update matter

Secured: the debentures carry a charge over the company's assets.
Unrated: these debentures are not rated by a credit rating agency.
Unlisted: they will not be traded on a stock exchange, so there is no market price for them.
Redeemable: the company must repay the principal on the stated dates.

What a reader can take away

The company has raised ₹ 10 Crores of debt through this Tranche 2 allotment, carrying a fixed cost of 11.40% p.a. The repayment schedule is front-loaded, with 95% of the principal due on 30th January 2027, a little under three months after allotment, and the balance 5% on 18th November 2027.

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