Dear Sir/Madam, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we hereby inform you that the ....
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QGO Finance Ltd has allotted 100 unsecured, unlisted, redeemable Non-Convertible Debentures (NCDs) of Rs. 1,00,000 each, aggregating to Rs. 1 crore, via private placement to eligible investors. The NCDs carry a coupon of 12% per annum, payable monthly, with a 9-year tenure maturing on November 24, 2034. The total issue size is Rs. 4 crores, of which this tranche is Rs. 1 crore, leaving 300 NCDs (Rs. 3 crores) pending allotment in subsequent tranches. The NCDs are unsecured and will not be listed on any stock exchange.
This is a relatively small fundraising (Rs. 1 crore) through high-cost unsecured debt, which may increase the company's interest burden but provides additional capital. Since the NCDs are unlisted and privately placed, there is no direct impact on the traded stock price, but shareholders should note the 12% borrowing cost and the unsecured nature of these instruments.