Board approves Rs 38 crore NCD issue, modifies Rs 15 crore NCD security
DCAL · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.6 pts less than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Board approved issuance of up to 3,800 secured, listed, redeemable NCDs of Rs 1 lakh face value, aggregating up to Rs 38 crores, via private placement. Coupon 10 percent per annum payable quarterly, bullet repayment at 18-month maturity. Allotment on Oct 15, 2026; maturity April 15, 2028. Secured by land mortgage and corporate guarantee from promoter entity Dishman Infrastructure. Also approved replacing land security on existing Rs 15 crore NCDs (Tranche II) with 100 percent cash margin in FD form.
Rs 38 crore debt raise adds to company leverage. Coupon 10 percent is standard for secured listed NCDs. Security swap to cash margin aids promoter liquidity.