Lodha Developers Limited has informed the Exchange regarding allotment of 35000 securities pursuant to Non Convertible Securities at its meeting held on July 21, 2025
LODHA · price
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Lodha Developers has allotted 35,000 senior, secured, rated, listed, redeemable, taxable non-convertible debentures (NCDs) of face value ₹1 lakh each, aggregating to ₹350 crore, on a private placement basis. The NCDs carry a floating coupon of 3-month MIBOR plus a spread of 2.09% per annum, currently translating to 8.19% per annum, with quarterly reset and annual interest payments starting July 2026. The spread will reduce by 10 basis points to 1.99% after 6 months. The instruments have a tenure from July 21, 2025 to January 21, 2028 (~2.5 years), are secured by a first-ranking charge on certain assets, and will be redeemed in 8 quarterly instalments starting March 31, 2026. They will be listed on the BSE Wholesale Debt Market segment.
This is a routine debt-raising move that adds ₹350 crore to Lodha's funding base at a competitive floating rate, supporting its growth plans without diluting shareholders. The floating-rate structure exposes the company to MIBOR movements, but the secure asset backing and structured quarterly redemption suggest manageable debt servicing for a real estate developer.