Pilani Investment and Industries Corporation Ltd. Allots ₹500 Crore in Non-Convertible Debentures
Pilani Investment and Industries Corporation Limited announced the allotment of ₹500 crore in Non-Convertible Debentures (NCDs) through a private placement on March 25, 2026. The Investment and Finance Committee of the Board of Directors approved the allotment of 50,000 debentures, each with a face value of ₹1,00,000.The NCDs have been rated ‘AA+ (STABLE)’ by both CARE and CRISIL. The debentures will be listed on the Wholesale Debt Market segment of the BSE Limited.
Key details of the NCDs are as follows:
| Particulars | Details |
|---|---|
| Type of Securities | Fully Paid, Unsecured, Listed, Rated, Non-cumulative, Redeemable, Rupee Denominated, Non-Convertible Debentures |
| Issue Type | Private Placement |
| Total Number of Securities | 50,000 |
| Total Issue Amount | ₹500 crore |
| Tenure | 3 years 1 month from the date of allotment, i.e., March 25, 2026, with a maturity date of April 24, 2029 |
| Coupon Rate | 8.11% p.a., with the first coupon payment on April 24, 2026 |
| Security | Not Applicable |
| Default Interest | Additional interest of 2% p.a. over the coupon rate will be payable on defaulted amounts |
The meeting of the Investment and Finance Committee commenced at 11.30 A.M and concluded at 11.45 A.M.
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