Loan & Debt23 Jul 2026, 07:20 pm
Suraj Estate Developers Completes ₹70 Cr NCD Issuance
AI Summary
Suraj Estate Developers Ltd has completed the issuance of Unlisted Secured Non-Convertible Debentures (NCDs) aggregating ₹70 crore. The company had initially approved the issuance of 7 crore NCDs on February 29, 2024. A portion of 6 crore NCDs aggregating ₹60 crore was allotted and subsequently redeemed. The remaining 1 crore NCDs, aggregating ₹10 crore, were allotted on July 23, 2026, to IDBI Trusteeship Services Limited as Trustee for India Real Estate Investment Fund – Series 2. The NCDs have a tenure of 38 months from the allotment date, with a coupon 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 on July 23, 2026.
- NCDs carry a coupon rate of up to 17% per annum.
- Debentures have a maturity of 38 months from allotment.
- Previous ₹60 crore NCD allotment has been fully redeemed.
Price Impact
More from SURAJEST