Viviana Power Tech Limited has informed the Exchange regarding Outcome of Board Meeting held on March 03, 2026.
VIVIANA · price
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Awaiting price reaction for this filing.
Viviana Power Tech Limited's board, at its meeting on March 3, 2026, approved raising up to Rs. 25 crore through Non-Convertible Debentures (NCDs) via private placement, in one or more tranches. The issue will consist of 25,000 NCDs with a face value of Rs. 10,000 each, carrying a coupon rate of 12% per annum, paid monthly, with principal repayable in two equal installments at the end of the 21st and 24th months. The NCDs will be unlisted, secured by a pari passu charge on receivables with a 1.25x asset cover, and the security must be created and perfected within 30 days of allotment. The company operates in power transmission and distribution EPC projects up to 400KV.
The 12% coupon rate is relatively high, which may increase interest costs and pressure profitability, though existing shareholders are not diluted since these are unlisted debt instruments. Investors should monitor the company's ability to service this debt given the elevated interest rate, while the 1.25x security cover offers some protection to debenture holders.