Share India Securities Approves Issuance of Up To INR 150 Crores in Secured NCDs
Share India Securities Limited has approved the issuance of Non-Convertible Debentures (NCDs) on a private placement basis, aggregating up to INR 150 Crores. The debentures are secured and proposed for listing on the Wholesale Debt Market (WDM) segment of the BSE Limited.The company’s Finance Committee sanctioned the issuance of up to 1,50,000 secured, rated, listed, taxable, transferable, and redeemable NCDs. Each NCD has a face value of INR 10,000, with the total issue size amounting to INR 150 Crores.
The debt instruments are designed for private placement and carry specific terms regarding tenure, interest payments, and security backing.
Key details regarding the Non-Convertible Debentures include:
| Feature | Details |
|---|---|
| Security Type | Secured, rated, listed, taxable, transferable, redeemable NCDs |
| Total Issue Size | Up to INR 150 Crores |
| Number of Securities | Up to 1,50,000 NCDs |
| Face Value per NCD | INR 10,000 |
| Listing Status | Proposed to be listed on WDM segment of BSE Limited |
| Tenure | Up to 25 months from the Date of Allotment |
| Coupon/Interest Rate | 10.50% per annum |
| Interest Payment Schedule | Monthly, by the 10th day of the succeeding month |
| Principal Repayment | Partial redemption in half-yearly instalments, with each instalment amounting to 25% of the principal amount |
| Charge/Security | Pari-passu charge over entire current assets and receivables (including MTF receivables) |
| Minimum Cover | 1.35 times the entire Outstanding Amounts |
The NCDs are secured by a pari-passu charge through hypothecation over all current assets and receivables, including MTF receivables. This security comes with the personal guarantees of specified members of the Promoter and Promoter Group, along with Directors of the Company.
A clause addressing delayed payment mandates that if interest or principal payment is delayed for more than three months from the due date, an additional coupon rate of 2% per annum over the standard Coupon Rate will be payable by the Issuer until the default is rectified.
SHAREINDIA Stock Price Movement
Share India Securities Limited stock gained during today's trading session, with shares settling at ₹181.13 after closing the market and posting a 2.85% gain. The equity traded within an intraday range of ₹174 to ₹182.8, supported by over 1 million shares being transacted today.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.