Suraj Estate Developers Limited has informed the Exchange regarding Outcome of Management Committee Meeting held on February 20, 2026.
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Suraj Estate Developers' Management Committee, at its meeting on February 20, 2026, approved the issuance of 4.50 crore unlisted, redeemable, secured, non-convertible debentures (NCDs) at a face value of ₹10 each, aggregating to ₹45 crore. The NCDs will be issued on a private placement basis to IDBI Trusteeship Services Limited, acting as the trustee of India Real Estate Investment Fund Series 2 — an Alternative Investment Fund (AIF) registered with SEBI as a venture capital fund. The investment is being routed through ICICI Venture Funds Management Company Limited as the investment manager. The coupon rate, tenure, and redemption schedule have not been disclosed in this filing.
The company is raising ₹45 crore in debt from a marquee institutional investor (ICICI Venture-backed AIF), which strengthens its funding base for real estate operations. Since these are secured NCDs on private placement, there is no dilution for existing shareholders, but the debt servicing obligation will add to the company's interest outflow. The absence of disclosed coupon rate makes it difficult to gauge the cost impact at this stage.