Allotment of 20,000 rated, listed, senior, secured, redeemable, taxable, transferable, non-convertible debentures of ? 1,00,000 each aggregating to ? 200 Crore on private placement basis.
Awaiting price reaction for this filing.
Macrotech Developers (Lodha) has allotted 20,000 secured, listed, redeemable non-convertible debentures (NCDs) of ₹1,00,000 each, raising a total of ₹200 crore from private placement. The NCDs carry an interest rate of 8.14% per annum, payable quarterly starting September 30, 2025, and will mature on June 5, 2028 (about 3-year tenure). The debentures are secured by a first-ranking charge on certain company assets and will be listed on the BSE Wholesale Debt Market segment. Principal will be repaid in 9 quarterly instalments beginning June 30, 2026, with the final instalment at maturity.
This is a debt-raising move by Lodha to strengthen its capital structure at a competitive borrowing cost of 8.14%, which is a moderate rate for a real estate company. For equity shareholders, this increases the company's overall debt but does not dilute ownership; the impact on stock price is likely neutral unless the funds are deployed for a major expansion.