TARC Limited has informed the Exchange about General Updates
TARC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
TARC Limited has informed the exchanges that it has made full premature redemption of two series of Non-Convertible Debentures (NCDs) along with interest payments on April 8, 2025. The first NCD series (ISIN INE0EKgO7019) had an issue size of Rs. 1,130 crore, with interest of Rs. 24.63 crore paid and principal of Rs. 678.96 crore redeemed. The second series (ISIN INE0EKgO7035) had an issue size of Rs. 191 crore, with interest of Rs. 71.69 crore paid and principal of Rs. 94.12 crore redeemed. All payments were made on time with no delay, and the outstanding amount on both NCDs is now Nil. The company cited no reason for non-payment.
This is a positive development for shareholders as TARC is voluntarily deleveraging ahead of its scheduled maturity dates, reducing future interest obligations. It signals strong liquidity or cash flow generation, though investors should monitor whether this depletes cash needed for ongoing real estate operations.