Indostar Capital Finance Ltd Completes Private Placement of INR 600 Crore in Non-Convertible Debentures
Indostar Capital Finance Ltd announced the allotment of Non-Convertible Debentures (NCDs) totaling INR 600 crore through a private placement basis. The allotment was approved by the company's Borrowing Committee via Circular Resolution #01/2026-27 dated April 23, 2026.The company issued a total of 60,000 senior, secured, redeemable, rated, listed, taxable, non-convertible debentures. Each debenture has a face value of INR 1,00,000 (Indian rupees one lakh only).
The total issue size of INR 600 crore comprises three distinct series of debentures:
1. Series XXXI: Allotment of 20,000 NCDs, amounting to INR 200,00,00,000.
2. Series XXXII: Allotment of 12,500 NCDs, amounting to INR 125,00,00,000.
3. Series XXXIII: Allotment of 27,500 NCDs, amounting to INR 275,00,00,000.
The debentures are under the classification 9.25% ICFL 26-27/Series XXXI, 9.25% ICFL 26-27/Series XXXII, and 9.25% ICFL 26-27/ Series XXXIII.
Details of the NCD Tranches
The NCDs are proposed to be listed on the Negotiated trade reporting platform of the National Stock Exchange of India Limited. All three series bear a coupon rate of 9.25%.The tenure and redemption details for each series are as follows:
| Series | Tenure (From Deemed Allotment Date) | Redemption Details |
|---|---|---|
| Series XXXI | 18 months and 28 days | Redemption amount: INR 1 Lakh per Debenture on maturity, November 22, 2027. |
| Series XXXII | 19 months and 1 day | Redemption amount: INR 1 Lakh per Debenture on maturity, November 23, 2027. |
| Series XXXIII | 21 months | Redemption amount: INR 1 Lakh per Debenture on maturity, January 24, 2028. |
The interest payments and principal repayments for the three series are detailed across the following payment schedules:
| Series | Scheduled Date | Description | Amount to be paid Per Debenture |
|---|---|---|---|
| Series XXXI | November 23, 2026 | Coupon Payment | 5,423.29 |
| Series XXXI | November 22, 2027 | Principal Payment/ Coupon Payment | 1,09,224.66 |
| Series XXXII | November 23, 2026 | Coupon Payment | 5,423.29 |
| Series XXXII | November 23, 2027 | Principal Payment/ | 1,09,250.00 |
| Series XXXIII | January 24, 2027 | Coupon Payment | 6,994.52 |
| Series XXXIII | January 24, 2028 | Principal Payment/ Coupon Payment | 1,09,250.00 |
The NCDs are secured by a first pari-passu charge, along with other lenders, through hypothecation over the company's portfolio of assets or receivables that are not more than 90 days overdue from the original scheduled date, and/or unencumbered treasury assets.
The scheduled payments for coupon and principal are subject to the working day convention detailed in the General Information Document and Key Information Document.
INDOSTAR Stock Price Movement
As of 3:17 PM, IndoStar Capital Finance Limited shares are shedding value in live trading, dropping 3.73% to trade at ₹195.93. The stock saw considerable liquidity, with 347,791 shares transacted throughout the day.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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