Blue Coast Hotels Limited hereby inform exchange regarding default in payment of Interest/principal amount of 0.01% Redeemable Preference Shares.
BLUECOAST · price
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Blue Coast Hotels has disclosed to the exchanges that it has defaulted on the full repayment of its 0.01% Redeemable Preference Shares, which were issued to a promoter group Body Corporate. The total outstanding amount on these unlisted securities is INR 6.22 crore, out of which Rs. 4.85 crore is unpaid dividend and the balance is the principal redemption — the entire INR 6.22 crore is now in default as of 31st March 2025. There is no default on bank loans or revolving facilities. The company's total financial indebtedness stands at INR 34.57 crore, meaning this default represents roughly 18% of its overall debt obligations.
This is a credit-negative signal — the company has failed to honor its obligation to its promoter group entity, raising concerns about cash flow stress and internal financial health. While the defaulted amount is relatively small compared to total debt, it could dent investor confidence and may attract further scrutiny from lenders and exchanges.