Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we hereby inform you that majority of the Board of ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
QGO Finance Ltd has allotted 550 Unsecured, Unlisted, Redeemable Non-Convertible Debentures (NCDs) of Rs. 1,00,000 each, raising Rs. 5.50 crore in this tranche. The total NCD issue size stands at Rs. 19.75 crore, of which 800 NCDs were already allotted in earlier tranches and 625 remain pending. The NCDs carry a coupon of 12% per annum, payable monthly, and have a long tenure of 9 years maturing on March 16, 2035. The NCDs were issued on a private placement basis to eligible investors and will not be listed on any stock exchange. Since the NCDs are unsecured, no charge has been created on company assets.
This is a debt-raising move, not equity dilution, so existing shareholders are not diluted. However, the 12% annual interest rate is quite high, meaning the company will face a significant interest expense burden over the 9-year tenure, which could pressure profitability. The unlisted and unsecured nature of these NCDs also means bondholders have no collateral backing, reflecting higher risk perception of the issuer.