Outcome of the Board Meeting held on 21st November 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Shraddha Prime Projects' Board, meeting on 21st November 2025, approved issuing 6,000 unlisted, secured, redeemable, non-cumulative, non-convertible debentures (NCDs) of Rs. 1,00,000 face value each, aggregating to Rs. 60 Crores, on a private placement basis to non-promoter investors. The NCDs carry a coupon of 16% per annum with a total IRR of 22% or 1.4X of subscription amount, whichever is higher, and interest is payable quarterly. The tenure is 36 months from the deemed allotment date or up to 31st March 2029, whichever is earlier, with first allotment expected on or after 24th November 2025. The instruments will be secured via hypothecation/pledge of company assets in favour of a debenture trustee.
The company is raising Rs. 60 Cr of debt at a very high cost (16% coupon, 22% IRR), which may dilute returns for equity shareholders and signals either elevated credit risk or aggressive growth funding. For shareholders, this means higher future interest outflows, though the unlisted, secured structure protects debenture holders rather than equity holders.