Himatsingka Seide Limited has informed the Exchange regarding allotment of 650 securities pursuant to Non Convertible Securities at its meeting held on May 07, 2025. The Securities Committee of the Board of Directors ( Committee ) of Himatsingka Seide Limited (the Company ) has allotted 650 (Six hundred fifty) un-rated, senior, unlisted, secured, redeemable Series A Non-Convertible Debentures (Series A NCDs) denominated in Indian Rupees, each having a face value of Rs. 10,00,000/- (Rupees Ten Lakh only) and an aggregate amount of Rs. 65,00,00,000/- (Rupees Sixty-Five Crores only) at par on a Private Placement Basis.
HIMATSEIDE · price
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Himatsingka Seide has allotted 650 unrated, senior, secured, unlisted, redeemable Series A Non-Convertible Debentures (NCDs) on May 7, 2025, raising Rs. 65 crore on a private placement basis at par. Each NCD has a face value of Rs. 10 lakh, carries a coupon of 11.5% per annum payable quarterly, and has a tenure of 39 months maturing on May 7, 2028. Repayment includes an 18-month moratorium followed by 8 equal quarterly installments of 12.5% of face value, along with a redemption premium at maturity. The NCDs are secured by a first pari passu charge on fixed assets of the company's manufacturing facilities at Hassan and Doddaballapur.
The company is raising Rs. 65 crore of debt at a fairly attractive 11.5% rate to fund operations or expansion. Since these are unlisted NCDs on private placement, existing shareholders face no dilution, but the debt adds to the company's interest obligations and is secured against key manufacturing assets.