Share India approves INR 150 Cr NCD issue at 10.50% on private placement
SHAREINDIA · price
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Share India Securities Finance Committee approved issuance of up to 1,50,000 secured, listed, taxable NCDs of INR 10,000 each, totaling up to INR 150 Crores on a private placement basis. Coupon is 10.50% per annum, paid monthly. Tenure up to 25 months with half-yearly principal redemption of 25% each. Backed by pari-passu charge on current assets and receivables at 1.35x cover along with promoter personal guarantees. NCDs to be listed on BSE Wholesale Debt Market. This is part of the broader INR 300 Cr debt raising plan disclosed earlier.
Raises INR 150 Cr of debt capital without equity dilution. Interest at 10.50% adds to borrowing costs but funds business growth and margin trade finance.