Announced Tue, 4 Aug · 17:39 IST
Dev Accelerator to privately place 100 crore NCDs, promoters give personal guarantee
DEVX · price
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Price reaction · full curve 14 horizons · vs prior close
+0.0%1-day move
₹34.00
prior close
₹34.00
base price
After-mkt
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AI summary
Dev Accelerator is raising up to 100 crore through 1 lakh senior, listed, secured, redeemable, non-convertible debentures of 10,000 rupees face value, on a private placement basis. Promoters Parth Shah, Rushit Shah and Umesh Uttamchandani have given a personal guarantee to Catalyst Trusteeship, the debenture trustee. They must collectively hold at least 19 percent of paid-up capital and continue as executive directors till final redemption.
Likely market impact
Company raises 100 crore via privately placed NCDs. Promoters pledged personal guarantee and must keep 19 percent stake and stay on board till redemption.