Setco Automotive's Subsidiary Approves Waiver of ₹75.50 Crore on Debentures for FY 2025-26
Setco Auto Systems Private Limited (SASPL), a material subsidiary of Setco Automotive Ltd, at its Board Meeting held on March 20, 2026, approved the waiver of accrued Investor IRR @ 18% per annum amounting to ₹75.50 crore for the Financial Year 2025-26 on its listed Non-Convertible Debentures. The debentures were issued by SASPL under the Debenture Trust Deeds dated August 31, 2021 and July 19, 2024, executed between SASPL and Vistra ITCL (India) Limited, acting as the Debenture Trustee. SASPL has received requisite consent from the Debenture Trustee and the Debenture Holders for the aforesaid waiver. The approval and consent have been obtained in accordance with the terms of the Debenture Trust Deeds and applicable provisions of law. The principal amount or other key terms of the Debentures remain unchanged, except for the aforesaid waiver.
Key Highlights
- Setco Auto Systems Private Limited approved a waiver of ₹75.50 crore on its listed Non-Convertible Debentures for FY 2025-26.
- The waiver is on the accrued Investor IRR @ 18% per annum for the said financial year.
- The approval and consent for the waiver have been obtained from the Debenture Trustee and the Debenture Holders.
- The waiver has been granted in accordance with the terms of the Debenture Trust Deeds and applicable provisions of law.
- The principal amount or other key terms of the Debentures remain unchanged, except for the waiver.