Loan & Debt23 Jul 2026, 07:20 pm
Suraj Estate Completes ₹70 Cr NCD Issuance
AI Summary
Suraj Estate Developers Ltd has completed the issuance of 7,00,00,000 Unlisted Secured Non-Convertible Debentures (NCDs) aggregating ₹70 Crore. Initially approved on February 29, 2024, ₹60 Crore of these NCDs were allotted to India Real Estate Investment Fund – Series 2 and subsequently redeemed. The remaining ₹10 Crore has now been allotted to IDBI Trusteeship Services Limited, acting as Trustee for India Real Estate Investment Fund – Series 2. The NCDs have a face value of ₹10 each, a tenure of 38 months from allotment, and an interest rate of 17% per annum, paid monthly.
Key Highlights
- Completed issuance of ₹70 Crore in Non-Convertible Debentures.
- Final allotment of ₹10 Crore NCDs made to IDBI Trusteeship Services.
- NCDs carry a 17% annual interest rate, payable monthly.
- Maturity is 38 months from the allotment date of July 23, 2026.
- Previous ₹60 Crore allotment has been fully redeemed.
Price Impact
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