Varroc Engineering Issues ₹50 Cr Commercial Paper

Varroc Engineering Limited has issued and allotted Commercial Papers (CPs) worth ₹50 crores. The CPs have a face value of ₹5,00,000/- each, with an issue price of ₹4,97,058.5/- per unit, representing a discount rate of 7.20%. The instrument has a tenure of 30 days, with allotment on July 22, 2026, and maturity on August 21, 2026. The interest is paid upfront, and the principal is payable on maturity. These CPs are unsecured and issued in favor of Kotak Mahindra Bank Limited, with ICICI Bank Limited acting as the IPA. The company is in the process of listing these CPs on the National Stock Exchange of India Limited.