Himatsingka revises NCD plan, keeps Rs 550 cr listed issue at 11.5% coupon
HIMATSEIDE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.4 pts more than Nifty Microcap 250 and 6.5 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Himatsingka Seide revised its Rs 550 crore NCD plan into 3 series: Series D Rs 50 cr unlisted, Series E Rs 200 cr unlisted, and Series 1 Rs 300 cr listed on BSE and NSE with green shoe of Rs 250 cr. All carry 11.50% annual coupon paid quarterly, 42 month tenure, principal repaid in 3 installments. Private placement to eligible investors, secured against plant assets.
Debt of Rs 550 cr plus green shoe means higher interest cost. Coupon at 11.5% is steep. No equity dilution since these are debentures.