The Capital Raising Committee Meeting held on 27th June, 2025 interalia considered and approved allotment of 7080 14% Secured, Un-listed and Un-rated Non-Convertible Debentures
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Mantra Capital Ltd's Capital Raising Committee, at a meeting on 27th June 2025, approved the allotment of 7,080 secured, unlisted, and un-rated non-convertible debentures (NCDs) carrying a coupon rate of 14% per annum. Since these are non-convertible debentures, they do not result in any equity dilution for existing shareholders. The instruments are unlisted and un-rated, meaning they are not tradable on exchanges and carry no formal credit rating. The high 14% coupon rate is notably above typical corporate borrowing rates, which may reflect either a higher risk perception or a specific funding need.
No equity dilution for shareholders, but the 14% interest rate is steep and will raise the company's interest outflows, potentially pressuring future earnings. Investors should watch how productively this debt is deployed and whether the cost of borrowing signals any underlying risk concerns.