Default30 Oct 2026, 08:50 pm
Blue Coast Hotels Defaults on ₹14.52 Cr RPS Payment
AI Summary
Blue Coast Hotels Ltd. has disclosed a default on the redemption of its 0.01% Redeemable Preference Shares (RPS) amounting to ₹14.52 Crore. This includes ₹9.67 Crore in principal and ₹4.85 Crore in dividend. The default occurred on October 30, 2026, for unlisted debt securities. The company's total financial indebtedness stands at ₹34.57 Crore, excluding dividends. Previously, the company had made variations to the RPS terms, including a coupon rate reduction and conversion of some RPS into Compulsorily Convertible Preference Shares (CCPS) and subsequently into equity shares.
Key Highlights
- Default on ₹14.52 Cr Redeemable Preference Shares (RPS).
- Includes ₹9.67 Cr principal and ₹4.85 Cr dividend.
- Default date: October 30, 2026.
- Total financial indebtedness is ₹34.57 Cr.
- Previous RPS variations included conversion to CCPS and equity.
Price Impact
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