Star Housing Finance defaults on NCD payment; Debenture Holders meeting called
Star Housing Finance Ltd. has defaulted on its Non-Convertible Debenture (NCD) payment of ₹20 crore, which was due on April 27, 2026, following a Put Option notice. The company requested a 14-working-day extension from the Debenture Trustee, Vardhman Trusteeship Private Limited, citing ongoing liquidity infusion through a new investor. The Debenture Trustee has sought consent from Debenture Holders for this extension and has scheduled a meeting for May 22, 2026, to discuss potential actions. These actions include considering negative consent for security enforcement, positive consent for signing an Inter-Creditor Agreement (ICA), and other measures. The meeting will be cancelled if the default is cured before the scheduled date. The NCDs were issued under ISIN: INE526R07017.
Key Highlights
- Star Housing Finance defaulted on NCD payment due April 27, 2026.
- Company sought 14-day extension for liquidity infusion from new investor.
- Debenture Trustee called a meeting of holders on May 22, 2026.
- Meeting to discuss security enforcement and Inter-Creditor Agreement.
- Meeting will be cancelled if default is cured beforehand.