Himatsingka Seide Approves Re-classification of Series E NCDs

Himatsingka Seide Ltd announced that its Securities Committee of the Board of Directors has approved the re-classification of Series E Non-Convertible Debentures (NCDs). The issuance involves 4,000 NCDs with a face value of ₹5,00,000 each, aggregating to ₹200 Crore. These are senior, secured, unrated, unlisted, redeemable, taxable NCDs to be issued via private placement. The NCDs will have a tenure of 42 months from the allotment date, with an interest rate of 11.50% per annum, payable quarterly. Principal repayment is scheduled in three instalments at 30, 36, and 42 months. The issuance is secured by a first pari passu charge over the company's fixed assets at its manufacturing plants in Hassan and Doddaballapur.