The outcome of the meeting of the Board of Directors held on Thursday, on 2nd April 2026. The meeting commenced at 10:30 a.m. and concluded at 3.15 p.m.
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The Board of Directors approved the issuance of 2,00,000 secured, unrated, unlisted Non-Convertible Debentures (NCDs) on private placement basis, aggregating ₹200 crore. The NCDs carry an interest rate of 11.60% for monthly payments or 11.75% for yearly payments, with a tenure of 2 years. Security is created on the company's current assets. A Debenture Committee was constituted to handle the allotment process. Additionally, the Board noted the company's proposal to shift its registered office within Andheri East, Mumbai for operational convenience.
The ₹200 crore NCD issuance will provide debt funding for the company, but the unlisted nature means limited transparency for retail investors. The 11.60-11.75% yield is below the 12% threshold, suggesting these are standard-rate NCDs rather than high-risk high-yield instruments.