Salem Erode Investments Approves ₹1.5 Cr Unlisted NCD Issue

Salem Erode Investments Limited's Board of Directors has approved the issuance of 15,000 Unlisted Secured Redeemable Non-Convertible Debentures (NCDs) with a face value of ₹1,000 each, aggregating to ₹1.50 crore. The issuance will be on a private placement basis in one or more tranches. The NCDs will have tenures of 36 months and 68 months, with varying interest payment structures (monthly or on maturity). A put option is available for 36-month schemes. The issue is secured against current assets, loans, advances, and other unencumbered assets, excluding fixed assets, with a minimum security cover of 100%.