Dishman Carbogen Amcis Ltd to Issue ₹38 Cr NCDs

Dishman Carbogen Amcis Ltd announced its Board of Directors has approved the issuance of up to 3,800 Senior, Secured, Rated, Listed, Redeemable, Taxable, Transferable Non-Convertible Debentures (NCDs) with a face value of Rs. 1,00,000/- each, aggregating up to Rs. 38,00,00,000/- (Rs. 38 Crores) on a private placement basis. The NCDs will have a coupon rate of 10.00% p.a., with quarterly interest payments and bullet payment on maturity in 18 months from allotment. The issue will be secured by a 1.10x security cover, backed by a first-ranking charge over non-agriculture land of promoter entity Dishman Infrastructure Limited (DIL). This security will be substituted with a 100% cash margin in the form of an FD lien in favor of the Debenture Trustee, as DIL may require the land for its commercial purposes. The company will seek stock exchange approval for this modification. Additionally, the Board approved modifications to the security in respect of existing Tranche II NCDs worth ₹15 Crore.