Himatsingka Seide Limited at its Board meeting held today i.e. April 17, 2025, has approved issuance of un-rated, senior, unlisted, secured, redeemable Series A Non-Convertible Debentures.
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Himatsingka Seide Limited's Board, meeting on April 17, 2025, approved the issuance of 650 Series A Non-Convertible Debentures (NCDs) on a private placement basis. Each NCD has a face value of Rs. 10 lakh, totalling Rs. 65 crores. The NCDs carry an 11.5% per annum coupon payable quarterly, with an 18-month moratorium followed by 8 equal quarterly instalments for principal repayment, over a tenure of up to 39 months. The debentures are unlisted, unrated, and secured by a first pari passu charge on the company's fixed assets at its Hassan and Doddaballapur manufacturing facilities. The issue is not proposed to be listed on any stock exchange.
The company is raising Rs. 65 crores through debt rather than equity, meaning no dilution for existing shareholders. The 11.5% coupon and 39-month tenure with an 18-month moratorium indicate the company is opting for structured, medium-term borrowing, likely to fund operations or capex without immediate repayment pressure.