Vikran Engineering Allots ₹10 Cr NCDs

Vikran Engineering Ltd has announced the allotment of 20 Secured, Unlisted, Redeemable, Non-Convertible Debentures (NCDs) aggregating to ₹10 Crores. The NCDs have a face value of ₹50 Lakhs each, a tenure of 24 months, and a fixed coupon rate of 11% per annum, with monthly interest payments and principal repayment on maturity. The issuance was done on a private placement basis and is not proposed to be listed on any stock exchange. A subservient charge over current assets has been created as security. The debentures are redeemable at par on maturity out of internal accruals or other permissible sources.