Dev Accelerator Ltd Allots ₹100 Cr Non-Convertible Debentures

Dev Accelerator Ltd has announced the allotment of 100,000 Non-Convertible Debentures (NCDs) with a face value of ₹10,000 each, aggregating to ₹100 crore. The allotment was made on a private placement basis. These senior, listed, secured, rated, redeemable, non-cumulative, taxable, and transferable NCDs carry an interest rate of 11.75% per annum, payable monthly. The debentures have a tenure of 36 months, with maturity on August 4, 2029. The company has created a first-ranking pari passu charge over its movable and immovable assets as security, along with an exclusive charge over identified receivables. The NCDs will be listed on the Wholesale Debt Market segment of BSE Limited.