Investment2 Mar 2024, 01:03 am
Indostar Capital Finance Approves Issue of up to INR 7,500 Crore in Non-Convertible Debentures
AI Summary
The Board of Directors at Indostar Capital Finance has approved the issuance of up to INR 7,500 crore in non-convertible debentures (NCDs) through private placement. The Borrowing Committee has approved allotment of 25,000 senior, secured, redeemable, rated, listed, taxable NCDs under Series XVI and XVII 2026, and 20,000 NCDs under Series XVIII 2026. The NCDs, with face value of INR 1 lakh each, will be listed on the Wholesale Debt Market Segment of BSE Limited. The tenor for Tranche 1 is 24 months and for Tranche 2 and 3 is 31 months.
Key Highlights
- Indostar Capital Finance approves issue of up to INR 7,500 crore in NCDs.
- BoD approves allotment of 25,000 senior, secured NCDs under Series XVI and XVII 2026.
- Borrowing Committee approves allotment of 20,000 NCDs under Series XVIII 2026.
- NCDs will be listed on the Wholesale Debt Market Segment of BSE Limited.
- Tranche 1 has a tenor of 24 months and Tranche 2 & 3 have a tenor of 31 months.