Allotted 300 Series E NCDs worth Rs 15 Cr at 11.50 percent coupon
HIMATSEIDE · price
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On the reaction day the stock moved 2.9 pts less than Nifty Microcap 250 and 3.5 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Himatsingka Seide allotted 300 Series E unlisted, secured, redeemable, taxable, transferable Non-Convertible Debentures on private placement basis. Face value Rs 5 lakh each, aggregating Rs 15 crore, issued at par. Coupon is 11.50 percent per annum, payable quarterly. Tenure 42 months maturing January 2030, with principal repayable in three installments at end of 30, 36 and 42 months. Secured by first pari passu charge on fixed assets at Hassan and Doddaballapur plants. Debentures are not proposed to be listed on any stock exchange.
Debt raise of Rs 15 crore at 11.50 percent adds interest cost but supports liquidity. No equity dilution since these are non-convertible debentures.