Intimation of under Regulation 30 of SEBI (LODR), 2015 for allotment of 7080 14% Secured, Un-listed and Un-rated Non-Convertible Debentures
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Mantra Capital Ltd has allotted 7,080 secured, unlisted and unrated non-convertible debentures (NCDs) at a coupon rate of 14% per annum. The intimation was made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR), 2015. The NCDs are non-convertible, meaning they are pure debt instruments and will not dilute equity shareholding. No details on the issue size, tenor, or end-use of funds were disclosed in the headline.
The 14% interest rate is significantly above typical corporate borrowing rates, suggesting either higher credit risk perception or that the company needed to offer attractive terms to raise debt. Existing shareholders are not immediately diluted, but higher interest costs could pressure future profitability if the funds are not deployed at matching or higher returns.