Puravankara Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/05/2025 ,inter alia, to consider and approve to consider and approve the proposal ....
PURVA · price
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Awaiting price reaction for this filing.
Puravankara Ltd has informed the stock exchanges that its Board of Directors will meet on May 16, 2025 to consider raising funds through the issuance of up to 3,000 secured, redeemable, unlisted, unrated, non-convertible debentures (NCDs). Each NCD will have a face value of INR 10 lakh, issued at par, for an aggregate amount of up to INR 300 crore. The issuance will be done via private placement in one or more tranches, subject to regulatory and statutory approvals. The company currently has no existing NCDs or bonds mentioned in the filing, making this a fresh debt-raising proposal.
This signals potential debt expansion of up to ₹300 crore for the company. Shareholders should note this will increase the company's debt obligations, though being secured and unrated, terms and actual cost of borrowing will only be clear after the board meeting. No immediate dilution risk since these are non-convertible debentures.