Himatsingka Seide Limited Allots Rs 12.75 Crore in Private Placement of Tranche 2 Series E Non-Convertible Debentures
Himatsingka Seide Limited announced the successful allotment of Tranche 2 Series E Unlisted, Senior, Secured, Unrated, Redeemable, Taxable Transferable Non-Convertible Debentures (NCDs). The allotment took place on July 28, 2026.The company allotted a total of 255 Tranche 2 Series E Debentures, each having a face value of Rs 5,00,000/-. This issuance aggregated to Rs 12,75,00,000/-, which was raised through a private placement basis.
The NCDs are denominated in Indian Rupees and feature several key protective features, including being senior, secured, unrated, and taxable. The tenure of the instrument is set at 42 months from the deemed date of allotment.
Key Details of the Non-Convertible Debentures:
| Feature | Detail |
|---|---|
| Type of Security | Series 'E' NCDs (Senior, Secured, Unrated) |
| Issuance Method | Private placement to eligible investors |
| Total Issue Size | Rs 12,75,00,000/- |
| Tenor | 42 months |
| Date of Allotment | July 28, 2026 |
| Date of Maturity | January 28, 2030 |
| Interest Rate | 11.50% per annum, payable quarterly |
Repayment and Security Structure
The structure for the debentures specifies that the principal will be repaid in three installments at the end of 30 months, 36 months, and 42 months.
The instrument is secured by multiple charges over the company's assets. These include:
- A first pari passu charge via a registered or equitable mortgage and a deed of hypothecation over all immoveable and moveable fixed assets of the Issuer (present and future) located at manufacturing plants in Hassan and Doddaballapur, Karnataka.
- A negative lien over land measuring 4.85 acres situated at Sy No. 25, 17/1, 17/2 & 23 at its manufacturing facility in Hassan.
- An exclusive charge over the Subscription Escrow Account.
- A Demand Promissory Note and Letter of Continuity.
The terms also state a penalty of 2% for delay or default in the payment of interest or principal amount exceeding three months from the due date.
HIMATSEIDE Stock Price Movement
As of 1:58 PM, shares of Himatsingka Seide Limited are slipping by 1.54% in live trading, currently holding at ₹79.77 as the market continues to move. The stock has seen significant activity today, with a total traded volume reaching 275,617 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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