Himatsingka Seide Completes Private Placement of Tranche 3 Series E Non-Convertible Debentures
Himatsingka Seide Limited has announced the allotment of 250 Tranche 3 Series E Unlisted, Senior, Secured, Unrated, Redeemable, Taxable Transferable Non-Convertible Debentures (NCDs). The issuance was completed on a private placement basis.The company allotted these debentures, denominated in Indian Rupees (Rs.) with a face value of Rs. 5,00,000/- each. The total size of the issue stands at Rs. 12,50,00,000/-, or Rupees Twelve Crores Fifty Lakhs only.
The NCDs are scheduled for allotment on July 31, 2026, and have a maturity date set for January 31, 2030, giving them a tenure of 42 months from the deemed date of allotment.
Key Terms of the Non-Convertible Debentures (NCDs)
The debenture series is designated as Tranche 3 Series E and features several specific financial covenants and security provisions outlined during the issuance.A detailed breakdown of the key terms for the Tranche 3 Series E NCDs is provided below:
| Particulars | Details |
|---|---|
| Type of Securities | Tranche 3 Series E Unlisted, Senior, Secured, Unrated, Redeemable, Taxable Transferable Non-Convertible Debentures (Tranche 3 Series E Debentures) |
| Issuance Method | Private placement to eligible investors |
| Total Issue Size | Rs. 12,50,00,000/- (Rupees Twelve Crores Fifty Lakhs only) |
| Listing Status | Not proposed to be listed |
| Tenure of Instrument | 42 months from the deemed date of allotment |
| Date of Allotment and Maturity | Allotment: July 31, 2026; Maturity: January 31, 2030 |
| Interest Rate | 11.50% p.a., payable quarterly |
| Security/Charge Created | First pari passu charge over the entire immovable and moveable fixed assets of the Issuer located at manufacturing plants in Hassan and Doddaballapur (Karnataka), as well as a negative lien over land measuring 4.85 acres in Hassan. |
| Repayment Schedule | The principal will be repaid across three installments at the end of 30 months, 36 months, and 42 months respectively. |
The instruments are secured by charges over the company’s assets and include a Demand Promissory Note and Letter of Continuity. A default penalty provision is set at 2% in case of delayed payment of interest or principal for more than three months from the due date.
HIMATSEIDE Stock Price Movement
Shares of Himatsingka Seide Limited slipped 0.28% on Friday, settling at ₹79.23 after closing lower from its previous close. The stock recorded a traded volume of 282,891 shares, touching a day low of ₹79.01.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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