Heranba Group Announces Conversion of Inter-Corporate Deposits into ₹450 Crore OFCDs
Heranba Industries Limited has announced that its Board of Directors approved the conversion of existing Inter-Corporate Deposits (ICDs) into Optionally Fully Convertible Debentures (OFCDs). This restructuring deal involves the company's wholly owned subsidiary, Heranba Organics Private Limited (HOPL).The transaction, which will be issued by HOPL to Heranba Industries Limited, is set to take place on a private placement basis through an adjustment and set-off against the existing ICD amount.
The Board meeting addressing this proposal was held on April 27, 2026. The conversion is structured to assist in the restructuring of the inter-company funding.
Details of the approved conversion are as follows:
| Parameter | Detail |
|---|---|
| Transaction Type | Conversion of existing ICD into OFCDs |
| Issuer | Heranba Organics Private Limited (Wholly Owned Subsidiary) |
| Investor | Heranba Industries Limited |
| Amount | ₹ 450 Crores |
| Tenure | 10 years |
| Coupon Rate | 1% per annum |
| Conversion Feature | OFCDs are optionally convertible into equity shares of Heranba Organics Private Limited |
The transaction is intended to be conducted in the ordinary course of business and will be at arm's length basis. The use of OFCDs allows the debentures to be optionally convertible into the equity shares of Heranba Organics Private Limited, according to mutually agreed terms and applicable law. The stated purpose of the funding is the restructuring of the existing inter-company funding mechanisms.
HERANBA Stock Price Movement
Today, shares of Heranba Industries Limited edged higher to close at ₹228.14, rallying 7.10% for the session. The stock settled on a robust volume of 166,656 shares.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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