Emerald Leisures Approves NCD Issuance of ₹105 Cr

Emerald Leisures Ltd announced board approval for the issuance of up to 1,050 Secured, Unlisted, Redeemable, Non-Convertible Debentures (NCDs) with a face value of ₹10,00,000 each, aggregating to ₹105 Crores. The issuance will be on a private placement basis. The company has received subscription money amounting to ₹55 Crores towards the first tranche. The board approved the allotment of 550 NCDs for ₹55 Crores. The remaining amount of the first tranche and subsequent tranches will be considered upon receipt of balance subscription monies. The NCDs have a tenure of 36 months with a coupon interest of 10% p.a. payable monthly and a redemption premium of 6.0% p.a.