This is to inform you that the Board of Directors of Salem Erode Investments Limited at their meeting held today, i.e., January 30, 2026 has inter alia considered and approved the issue ....
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The Board of Salem Erode Investments approved the issue of 7,500 unlisted secured NCDs of face value Rs. 1,000 each, aggregating to Rs. 75 lakhs, via private placement in one or more tranches. Investors can choose between two tenures: 36 months and 68 months. The 36-month monthly income scheme offers a 12% per annum coupon paid monthly, while the 68-month cumulative scheme aims to double the investment. The NCDs are secured against current assets, loans and advances, and standard gold loan receivables with a 100% security cover, with Vistra ITCL (India) Limited acting as Debenture Trustee. The issue will not be listed on any stock exchange.
This is a small fundraise (Rs. 75 lakhs) at an attractive 12% interest rate, suggesting the company is borrowing from private investors at a relatively high cost. There is no equity dilution since these are non-convertible debentures, but higher interest expenses could marginally pressure future earnings. For shareholders, the impact is limited given the small issue size.