Intimation regarding Allotment of NCD''s
ARIHANT · price
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Awaiting price reaction for this filing.
Arihant Foundations & Housing has allotted 110 unlisted, unsecured, redeemable NCDs with a face value of ₹1 crore each, raising a total of ₹110 crore on a private placement basis. The NCDs have a tenure of 48 months (4 years) and will be redeemed at par on maturity. The entire issue was subscribed by a single private limited company, meaning there is no public participation. The issue price is at par (no premium or discount) and the securities will remain unlisted. The coupon rate was not disclosed in this filing.
The company has added ₹110 crore of unsecured debt to its books, which will increase its interest obligations over the next 4 years but avoids equity dilution. Since the NCDs are unsecured and unlisted, retail shareholders should monitor the company's ability to service this debt from cash flows.