Gee Limited has informed the Exchange that the Board of Directors of the Company at its meeting held today, i.e., 04th February, 2026 at 03.40 PM (IST), considered and approved Allotment ....
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GEE Limited's board approved the allotment of 2,000 secured, redeemable Non-Convertible Debentures (NCDs) of INR 1 lakh each, aggregating INR 20 Crore, on a private placement basis. The NCDs were allotted entirely to True North Credit Opportunities Fund I. The NCDs carry an 11% per annum coupon payable monthly, plus a 3.25% per annum redemption premium at maturity, giving an effective yield of around 14.25%. The tenure is 36 months with a 12-month principal moratorium, after which 40% of the principal is repaid in 12 monthly instalments and the remaining 60% over the next 12 months. The issue is secured by a second/residual charge on the company's working capital assets and identified immovable property, along with personal guarantees from promoters Mr. Om Prakash Agarwal, Mrs. Jyoti Agarwal, Mr. Umesh Agarwal, and Mrs. Payal Agarwal.
GEE has raised INR 20 Crore in debt funding from a credit-focused fund, which is non-dilutive for existing shareholders but adds to the company's debt burden. The high effective borrowing cost (~14.25%) and the second-charge security structure suggest the company is paying a premium for capital, which investors should weigh against the purpose of the fundraising.