Vikran Engineering Allots ₹20 Cr NCDs on Private Placement

Vikran Engineering Ltd has approved the allotment of 40 Secured, Unlisted, Redeemable, Non-Convertible Debentures (NCDs) aggregating to ₹20 Crores. The allotment was made on a private placement basis at a face value of ₹50 Lakhs per NCD. The debentures carry a fixed coupon rate of 11% per annum, with monthly interest payments and principal repayment due on June 8, 2028. A subservient charge over current assets has been created as security. The debentures are not proposed to be listed on any stock exchange. This move aims to raise capital through debt financing.