Lodha Developers Limited has informed the Exchange regarding allotment of 50000 securities pursuant to Non Convertible Securities
LODHA · price
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Lodha Developers has allotted 50,000 rated, listed, senior, secured, redeemable, non-convertible debentures (NCDs) of face value ₹1 lakh each, aggregating to ₹500 crore on a private placement basis. The NCDs carry a coupon of 8.52% per annum, payable half-yearly, with the first interest payment due on September 30, 2026. The instrument has a 10-year tenure, maturing on March 31, 2036, and will be listed on the NSE Wholesale Debt Market segment. A first-ranking charge has been created over certain company assets as security, and a default interest of 2% over the applicable rate applies in case of payment defaults.
The company has successfully raised ₹500 crore of long-term debt at 8.52% over 10 years, indicating healthy investor appetite for Lodha's credit. The secured, long-tenure nature suggests the funds will likely be used for project funding or refinancing, modestly increasing leverage but at a reasonable cost.