Corporate Action5 Nov 2026, 07:01 pm
Grand Oak Canyons Allots ₹2,067 Cr NCPS via Loan Conversion
AI Summary
Grand Oak Canyons Distillery Ltd announced the allotment of 206,70,00,000 Non-Convertible Preference Shares (NCPS) with a face value of Rs. 10 each, aggregating to Rs. 20,670 crore (₹2,067 Crore). This issuance was done on a preferential allotment basis via private placement, converting existing unsecured loans into NCPS, rather than a fresh cash infusion. The NCPS carry a coupon of 2% per annum and have a tenure of 20 years. The allottees include Alstone Textile (India) Limited, Genesis Developers and Holdings Limited, and Hillridge Investment Limited.
Key Highlights
- Board approved allotment of ₹2,067 Cr in NCPS.
- Issuance is via conversion of unsecured loans.
- NCPS have a 2% coupon and 20-year tenure.
- Three entities are the allottees of the NCPS.
Price Impact
More from GRANDOAK