With reference to our letter dated December 05, 2025, Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish ....
Awaiting price reaction for this filing.
BCL Enterprises held a board meeting on December 5, 2025, where three key decisions were taken. First, the board accepted the resignation of Mr. Kishore Kargeti as Chief Financial Officer (CFO) and Key Managerial Personnel, effective immediately, citing personal reasons related to workload and the need to rebalance professional and personal commitments. Second, the board appointed Mr. Shahzaib Nawaz as the new CFO and KMP with effect from December 5, 2025; he is a qualified Chartered Accountant with an MBA in Finance and over 9 years of experience across accounts, finance, taxation, and compliance. Third, the board approved the issuance of secured, unlisted, unrated, redeemable non-convertible debentures (NCDs) aggregating up to INR 200 Crores via private placement, with a 60-month tenure, a face value of INR 1 lakh per NCD, and an IRR of 13% per annum compounded monthly with bullet repayment at maturity.
The CFO transition appears orderly with an immediate replacement already in place, limiting governance disruption. The INR 200 Crore NCD issuance signals the company is planning to raise significant debt capital privately, which may increase leverage but funds remain to be seen for what purpose. For shareholders, the 13% IRR on these NCDs indicates the cost of borrowing for the company, and the bullet repayment structure means principal repayment is deferred to year 5.