Ashima Limited has informed the Exchange regarding allotment of 5,000 Unlisted, Secured, Unrated, Redeemable, Rupee Denominated, Non- Convertible Debentures at its meeting held on July 21, 2025
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Ashima Limited has allotted 5,000 unlisted, secured, unrated, redeemable, non-convertible debentures (NCDs) of face value Rs. 1,00,000 each, aggregating to Rs. 50 Crores, on a private placement basis. This is the first tranche of a previously approved fundraise of up to Rs. 130 Crores (approved on June 21, 2025). The NCDs carry a coupon of 7.50% per annum with annual interest payments on 31st March, have a 9-year tenure with a Put option exercisable after 2 years, and are secured by a first charge on the company's non-agricultural land. The NCDs will not be listed on any stock exchange.
No equity dilution since these are pure debt instruments. The 7.50% coupon is a moderate borrowing cost. Shareholders should note that the company still has headroom to raise up to Rs. 80 Crores more under the same approval, and there is a Put option risk after 2 years if investors seek early redemption.