Varroc Engineering Ltd Issues Rs 50 Crores in Commercial Paper; Details Provided
Varroc Engineering Limited has issued and allotted Commercial Paper (CP) aggregating to Rs 50 crores. The financing instrument is linked to Kotak Mahindra Bank Limited, and the company confirmed key operational details regarding the CP issue on July 22, 2026.The commercial paper was issued for a tenure of 30 days. It carries an interest rate of 7.20% per annum. The principal amount will be paid upon maturity.
The financing structure is as follows:
| Feature | Detail |
|---|---|
| Issue Size | Rs 50 Crores |
| Coupon Rate | 7.20% |
| Tenure | 30 days |
| Date of Allotment | July 22, 2026 |
| Date of Maturity | August 21, 2026 |
| Security Status | Unsecured |
| Issuer | Kotak Mahindra Bank Limited |
| Issue Price | Rs 4,97,058.5/- |
Details regarding the commercial paper include the following:
- The ISIN for the security is INE665L14459.
- Each unit has a face value of Rs 5,00,000, with a total of 1000 units issued.
- The interest payment schedule is upfront, and the principal amount will be paid on maturity.
- ICICI Bank Limited served as the Issue Paying Agent (IPA).
Varroc Engineering Ltd stated that it is currently in the process of listing the Commercial Paper on National Stock Exchange of India Limited and awaits the necessary listing approval.
VARROC Stock Price Movement
As of 12:09 PM, shares of Varroc Engineering Limited are slipping by 1.54% in live trading, currently valued at ₹648 after shedding ₹10.15. The equity trades within an intraday range between ₹645.75 and ₹659.95 amid a volume of 23,007 shares.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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