Setco Automotive Subsidiary Receives Consent for Investor IRR Waiver
Setco Automotive Limited announced on March 20, 2026, that its material subsidiary, Setco Auto Systems Private Limited (SASPL), has secured consent for a waiver of accrued Investor Internal Rate of Return (IRR). The waiver, approved at a board meeting held on March 20, 2026, pertains to an IRR of 18% per annum, amounting to ₹75.50 crore for the Financial Year 2025-26.This waiver applies to Non-Convertible Debentures issued by SASPL under Debenture Trust Deeds dated August 31, 2021, and July 19, 2024. Vistra ITCL (India) Limited is acting as the Debenture Trustee.
The approval and consent were obtained in accordance with the terms of the Debenture Trust Deeds and applicable legal provisions. The principal amount and other key terms of the debentures remain unchanged, aside from the waiver.
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