The outcome of the meeting of the Board of Directors held on Thursday, on 30th April 2026.

Ncd High Yield 12pctFund Raising View source PDF

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AI summary

The Board of Directors approved the issuance of 2,00,000 secured, unrated, unlisted Non-Convertible Debentures (NCDs) on private placement basis, aggregating to Rs. 200 Crores. The NCDs carry interest rates of 11.60% (monthly payment) or 11.75% (yearly payment) with a tenure of 2 years. The minimum subscription is ₹1 Crore per investor, and security is created on the company's Current Assets. The debentures are not proposed to be listed on any stock exchange.

Likely market impact

The company is raising ₹200 Crores through high-yield NCDs to fund operations. The 11.60-11.75% interest rates represent a significant borrowing cost, which could impact profitability. Investors should monitor how these funds are deployed.