Revised intimation for issuance of NCDs and allotment of first tranche of 5,800 Secured, unlisted, Redeemable, Non-Cumulative, Non-Convertible Debentures (NCD) of the face value ....
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Shraddha Prime Projects Ltd's board approved issuance of 6,300 secured, unlisted, redeemable, non-convertible debentures (NCDs) on a private placement basis to non-promoter investors, aggregating up to Rs. 63 crore, with a face value of Rs. 1,00,000 each. In the first tranche, 5,800 NCDs worth Rs. 58 crore have been allotted on December 24, 2025. The NCDs carry a coupon of 20.04% per annum with an IRR of 22% or 1.4X of the subscription amount on redemption, payable quarterly for a tenor of up to 36 months or ending by 31st March 2029. The securities are unlisted and secured via hypothecation/pledge in favour of the debenture trustee.
The company is raising expensive debt (over 20% coupon), which signals aggressive funding needs and will increase its interest burden significantly; shareholders should note potential dilution of future earnings and higher financial risk given the high cost of borrowing.