Share India Securities to Issue ₹50 Cr NCDs via Private Placement
Share India Securities Ltd's Finance Committee has approved the issuance of up to 50,000 secured, rated, senior, listed, taxable, transferable, redeemable Non-Convertible Debentures (NCDs) of face value INR 10,000 each, aggregating up to INR 50 crore. These NCDs will be issued on a private placement basis and are proposed to be listed on the wholesale debt market (WDM) segment of BSE Limited. The debt securities will have a tenure of up to 15 months from the deemed date of allotment, offering a coupon rate of 10.50% per annum, payable monthly. Principal repayment will be a lump sum at maturity. The NCDs are secured by a pari-passu charge over current assets and receivables, with a minimum cover of 1.35 times, along with a personal guarantee from promoters. In case of default, an additional 2% p.a. coupon rate will be applicable.
Key Highlights
- Finance Committee approved issuance of ₹50 crore NCDs.
- NCDs are secured, rated, listed, and issued via private placement.
- The debentures offer 10.50% p.a. interest, paid monthly.
- Tenure is up to 15 months; principal repaid as lump sum at maturity.
- Secured by current assets and promoters' personal guarantee.
Price Impact
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