Dar Credit & Capital Approves Issue of Up To INR 50 Crores in Non-Convertible Debentures
Dar Credit & Capital Limited has approved the issuance of Non-Convertible Debentures (NCDs) as part of a fundraising initiative. The approval was granted by the company's Finance Management Committee (FMC) and subsequently delegated by the Board of Directors, making the company capable of raising capital through these instruments.The FMC considered and approved the issuance and allotment of rated, listed, secured, redeemable Non-Convertible Debentures up to INR 50 crores in one or more tranches on a private placement basis. This decision falls within the current borrowing limits applicable to the Company under Section 180(1)(c) of the Companies Act, 2013.
The issuance is slated for a private placement to identified eligible investors, including Qualified Institutional Buyers (QIBs). The NCDs are proposed to be listed on the National Stock Exchange (NSE).
Key details regarding the proposed Non-Convertible Debentures are summarized below:
| Detail | Specification |
|---|---|
| Type of Securities | Non-Convertible Debentures (NCDs) |
| Issuance Type | Private placement to identified eligible investors (including QIB) |
| Issue Size | Up to INR 50 crores |
| Stock Exchange Listing | National Stock Exchange (NSE) |
| Tenure Details | To be disclosed at the time of allotment |
| Coupon / Interest Schedule | Will be disclosed at the time of allotment |
| Charge / Security | Will be disclosed at the time of allotment |
| Redemption Mechanism | As per Debenture Trust Deed (DTD) |
The FMC meeting held to consider the proposal concluded, granting approval for the issuance of the NCDs.
DCCL Stock Price Movement
As of 3:27 PM, shares of Dar Credit & Capital Limited maintain their ₹51.00 valuation as the equity holds steady in live trading. The stock currently reflects a traded volume of 10,000 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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