INCREDIBLE INDUSTRIES LIMITED has informed the Exchange regarding Board meeting held on August 22, 2025.
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Incredible Industries' Board of Directors, at its meeting on August 22, 2025, approved the issuance of unlisted, secured or unsecured, redeemable, non-convertible debentures (NCDs) of up to Rs. 200 crore via private placement, in one or more tranches. The issuance is subject to shareholder approval by special resolution, and allotment will happen within 12 months of such approval. The NCDs will not be listed on any stock exchange. The Board also fixed September 19, 2025, at 2:30 PM (via video conferencing) as the date and time for the company's 46th Annual General Meeting. The Board meeting ran from 2:30 PM to 4:10 PM.
This is a debt-raising move, not an equity dilution, so existing shareholders' ownership is not directly affected. However, it will increase the company's leverage by up to Rs. 200 crore, which could pressure interest costs and debt servicing. Shareholders should watch for the special resolution vote tied to this issuance.