The Capital Raising Committee Meeting held on 11th June, 2025 inter alia considered and approved allotment of 500 14% Secured, Un-listed and Unrated Non-Convertible Debentures
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Mantra Capital Ltd's Capital Raising Committee, at its meeting on 11th June 2025, approved the allotment of 500 Non-Convertible Debentures (NCDs) through private placement. Each NCD has a face value of Rs. 1,00,000, carries a 14% interest rate, and is secured but unlisted and unrated. The total amount raised is Rs. 5 Crore. This follows the earlier intimation dated 5th May 2025 regarding the proposed NCD issuance. The filing is made under SEBI LODR Regulations to keep the stock exchange informed.
For shareholders, this means the company has successfully raised Rs. 5 Crore of debt capital at a relatively high 14% interest rate, which could indicate either credit risk perception or aggressive fundraising. The dilution is nil since NCDs are debt, not equity, but higher interest costs could pressure future profitability.