Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount for unlisted debt securities i.e. NCDs and NCRPS
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Awaiting price reaction for this filing.
Quadrant Televentures has disclosed a default of INR 159.85 crore on its 2% Non Convertible Cumulative Fully Redeemable Preference Shares (NCRPS), held by 5 investors (banks/financial institutions). The default, dated 1st April 2025, covers accumulated unpaid obligations across FY 2021-22 through FY 2024-25. The instrument comprised 15,984,543 shares of Rs. 100 each with a 15-year tenure, originally scheduled for equal redemption from April 2021 to March 2025. The company's total financial indebtedness stood at INR 2,088.66 crore as of 31 March 2024.
This disclosure signals serious financial distress — the company has completely failed to redeem its preference share obligations on schedule, indicating potential cash flow problems and raising concerns about its ability to service its much larger overall debt of over Rs. 2,000 crore. This is a significant negative signal for shareholders and could weigh heavily on the stock.