Disclosure under regulation 30 of SEBI (LODR) Regulations,2015 for the Issuance of Secured Non-Convertible Debentures (NCDs) and issuance of 9,60,000 Sweat Equity Shares of Rs 10 each.
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The Board of Mantra Capital Ltd approved two fundraising actions on May 5, 2025. First, the company will issue Secured Non-Convertible Debentures (NCDs) of up to Rs. 15 Crores on a preferential private placement basis, with a 36-month tenure and a coupon rate of up to 15.50% per annum, paid monthly. The NCDs will be secured with 1.10 times asset cover over receivables and will not be listed on any stock exchange. Second, the company will issue 9,60,000 Sweat Equity Shares of Rs. 10 each (totalling Rs. 96 lakhs) to Mr. Jatinder Mohan Singh Shah, the Chief Executive Officer, as part of compensation. Sweat equity is typically issued to employees for non-cash contributions like expertise or services.
Shareholders should note that the company is taking on Rs. 15 Crores of high-cost debt (15.50% interest is well above market rates), which could pressure profitability due to heavy interest expenses. Sweat equity issuance to the CEO will cause mild dilution of existing shareholders' stake, though the relatively small size of Rs. 96 lakhs limits the impact.