Nuvoco Vistas Corp. Ltd. Executes Agreements Related to Series B CCDs
Nuvoco Vistas Corporation Limited announced on March 20, 2026, that it executed securities subscription and debenture trustee agreements, along with an option agreement, in relation to Series B Compulsorily Convertible Debentures (CCDs). These agreements involve the company, its wholly-owned subsidiary Vadraj, the Debenture Trustee acting for the investors, and Niyogi Enterprise Private Limited.The proceeds from the issuance of the Series B CCDs will be used to repay amounts due to the company for financial assistance provided to Vadraj and to cover costs associated with the issuance.
Key Details of the Option Agreement:
| Particulars | Details |
|---|---|
| Parties | The Company, Vadraj, the Debenture Trustee (acting for the Investors), and Niyogi Enterprise Private Limited. |
| Purpose | To allow the Company to act as the call option holder, potentially acquiring the Series B CCDs from the Investors. |
| Size of Agreement | Up to INR 300,00,00,000, along with an IRR of 14.75%, computed from the date of allotment till 3 years, 3.5 years or 4 years. |
| Shareholding | Vadraj is a wholly owned subsidiary of the Company. |
| Related Party | Niyogi is a promoter of the Company and holds 60.16% of the Company's shareholding. |
| Transaction Type | The transaction is a related party transaction being undertaken at an arms-length basis. |
Key Details of the Subscription Agreement:
| Particulars | Details |
|---|---|
| Parties | The Company, Vadraj, and the Debenture Trustee (acting for the Investors). |
| Purpose | To facilitate the issuance of Series B CCDs by Vadraj to the Investors. |
| Size of Agreement | Up to INR 300,00,00,000. |
| Shareholding | Vadraj is a wholly owned subsidiary of the Company. |
| Related Party | Niyogi is a promoter of the Company and the transaction is a related party transaction being undertaken at an arms-length basis. |
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