Page 3 - Non-convertible Debentures

Grasim Industries secures Rs 1,250 cr from International Finance Corp

The investment by IFC, World Bank's private sector arm, will be in the form of a subscription to non-convertible debentures (NCD) issued by Grasim

Future Consumer defaults on payment of Rs 133 crore towards debentures

Future Consumer Ltd (FCL) has defaulted on the payment of Rs 132.97 crore towards payment of principal and interest of Non-Convertible Debentures (NCD) issued by the company to CDC Emerging Markets. FCL had defaulted on payment towards interest amount of Rs 32.97 crore and principal amount of Rs 100 crore, according to a regulatory filing by the FMCG arm of the debt-ridden Future Group on Friday. "The company has been unable to service its obligations towards payment of principal and interest due on unlisted Non-Convertible Debentures issued by the company to CDC Emerging Markets Ltd," it said. The default happened on February 15, 2024. Future Consumer had sought deferment for payment of principal and interest amount due towards NCDs, the filing added. It had NCDs of Rs 200 crore for a tenure of seven years with a coupon rate of 11.07 per cent per annum. This was applicable from the date of allotment, which is February 15, 2018. FCL, part of the Kishore Biyani-led Future Group, i

Navi Finserv plans to raise up to Rs 600 cr via bond issue to fund growth

NBFC firm Navi Finserv on Monday said it plans to raise up to Rs 600 crore through issuance of Non-Convertible Debentures (NCDs) to fund business growth. The total issue size includes a green shoe option of up to Rs 300 crore to retain oversubscription. The secured, rated, listed NCDs will have tenors of 18, 27, and 36 months and offer effective yields between 10.47-11.19 per cent per annum, the company said in a statement. The issue would open for subscription from February 26 onwards, it said. The funds raised through the bond issue will be used for onward lending, financing, loan repayment, and general corporate purposes, it said. This is the third capital raise through NCDs in the last two years by Sachin Bansal-led Navi Finserv.

Brookfield-backed India Infra InvIT to raise Rs 6,452 crore via debentures

The infrastructure investment trust is in the process of issuing NCDs, and the proceeds will be used entirely to refinance debt maturing at the Special Purpose Vehicle (SPV) level

Indel Money launches fourth public issue of NCDs, aims to raise Rs 200 cr

The company had launched three public issues of NCDs since 2021 and raised more than Rs 260 crore

Major Gold financer Muthoot Fincorp launches Rs 300-cr NCDs issue

Leading gold loan financier Muthoot Fincorp on Friday said it will raise Rs 300 crore through the issue of secured, redeemable, non-convertible debentures (NCDs). The issue opened for public subscription from Friday and will be open till January 25, the company said. The company said the proposed debt issuance is within the shelf limit of the board approved plan of raising up to Rs 1,100 crore this fiscal. The base size of the third tranche is Rs 75 crore with a green shoe option of Rs 225 crore. The company offers tenure options of 24 months, 36 months, 60 months, and 96 months with monthly, annual, and cumulative payment options across options with the coupon rate ranging from 9.26-9.75 per cent.

Sebi to auction 30 properties of 6 companies to recover money on Feb 13

Sebi on Thursday said it will auction 30 properties of six companies, including Mangalam Agro Products, on February 13 to recover money illegally collected from the investors. The properties will be auctioned for a reserve price of nearly Rs 30 crore. The other companies whose properties will also be auctioned are Bishal group of companies, Purusattam Infotech Industries, NVD Solar Ltd, Sun Plant Business and Jivan Sathi Dream Projects. The properties that go under the hammer include land parcels, plots, land with building structures and flats in West Bengal and Odisha, and they will be auctioned at a reserve price of Rs 29.97 crore, according to a notice issued by Securities and Exchange Board of India (Sebi). The markets regulator invited bids for sale of properties in the recovery proceedings against Mangalam Agro Products, Purusattam Infotech Industries, Jivan Sathi Dream Projects, Sun Plant Business, Bishal group and NVD Solar, along with their promoters/ directors, it said.

360 ONE Prime aims to raise Rs 1,000 cr through non-convertible debentures

As of March 2023, the company's assets under management stood at Rs 4,927 crore, and the net profit stood at Rs 234.52 crore. The total revenue of the company stood at Rs 673.66 crore

NBFC lender 360 One Prime to raise Rs 1,000 cr from reedemable NCDs

Non-banking financial company 360 One Prime, formerly IIFL Wealth, on Monday said it will raise up to Rs 1,000 crore debt through its maiden public issue of secured, redeemable, Non-Convertible Debentures (NCDs). The first tranche of the issue, which will be listed on the BSE, will open for subscription on January 11, with a base issue size of Rs 200 crore and an option to retain over-subscription of up to Rs 800 crore, the company in a statement said. The proceeds from the issue will be used for onward lending, financing/refinancing existing debt and interest payment of existing borrowings and other general corporate purposes. The company offers a coupon rate of 8.91-9.66 per cent per annum, depending on the tenor -- 18, 24, 36, and 60 months with monthly and annual interest payment options across eight series -- Karan Bhagat, Founder, and Chief Executive of the company, said. 360 One Prime is a wholly-owned subsidiary of 360 One WAM, which was formerly known as IIFL Wealth ...

RBI directs issuers to specify utilisation of funds raised via NCDs, CPs

For better transparency, issuers are now required to disclose long-term and unaccepted credit ratings in the offer document

Adani Ports to raise up to $601 million funds by selling debentures

Billionaire Gautam Adani was re-designated as executive director from managing director and his son Karan Adani was re-designated as managing director from CEO, the company added

2023 sees record Rs 8.8 trn corp bond, NCD issuances amid favourable market

Market participants said the corporate bond market showcased resilience and promise in 2023

ONGC Videsh to raise upto Rs 5,000 cr via debentures to fund capex, assets

The operational linkages are driven by companies operating in the same segment, with OVL being essential to ONGC for providing ownership in international oil and gas-producing assets

Vedanta Ltd to raise up to Rs 3,400 crore via non-convertible debentures

On Monday, Vedanta Ltd had announced its second interim dividend of Rs 11 per share for 2023-24

Sebi likely to allow non-convertible debentures with lower face value

Further, these issuances will only be interest or dividend-bearing instruments with a simple structure

Arka Fincap aims to raise Rs 300 crore via non-convertible debentures

Due to surging unsecured loans like personal loans and those on credit cards, the RBI increased the risk weighting for such loans from 100 per cent to 125 per cent

CRISIL downgrades rating on PTC Fin Services' non-convertible debentures

The Delhi-based finance company did not make any substantial disbursements during May-September 2023 due to lack of fresh funding

Piramal plans to raise Rs 1,000 cr from its maiden NCD opening on Thursday

Piramal Enterprises Limited on Wednesday said it plans to raise Rs 1,000 crore from maiden issuance of Non Convertible Debentures (NCDs) to fund business growth. The tranche I comprises the base issue size of Rs 200 crore and a green-shoe option of up to Rs 800 crore, aggregating up to Rs 1,000 crore, which is within the shelf limit of Rs 3,000 crore. The issue opens for subscription on October 19 and closes on November 2, 2023 with an option of early closure as per the Securities and Exchange Board of India norms. According to Jairam Sridharan, MD, Piramal Capital & Housing Finance Ltd, 60 per cent of issue is reserved for high net-worth individuals and retail investors. The secured, rated, listed, redeemable, non-convertible debentures of the face value of Rs 1,000 each is proposed to be listed on BSE and NSE, with BSE being the designated stock exchange for the issue. The minimum application size is Rs 10,000 and thereafter in multiples of Rs 1,000. The issue has ...

Incred Finance plans to raise Rs 300 crore via non-convertible debentures

The company plans to allocate 75 per cent of the net proceeds for purposes such as onward lending, financing and the repayment of existing borrowings, including interest and principal

Aditya Birla Finance to raise up to Rs 2K cr through maiden issue of NCDs

The NCDs will be issued with tenor options of three, five, or ten years offered with 'monthly', 'annual' or 'cumulative' interest payment frequency