Vikran Engineering Ltd Allots Secured Non-Convertible Debentures Worth ₹10 Crores through Private Placement
Vikran Engineering Ltd has announced the allotment of secured, unlisted, redeemable, non-convertible debentures (NCDs), aggregating to INR 10 Crore. The issuance was completed on June 4, 2026, through a private placement basis.The company utilized its Corporate Affairs Committee, authorized by the Board of Directors, to approve and execute the allotment. These NCDs are intended to raise funds in dematerialized form.
The details of the debenture issuance include:
| Feature | Details |
|---|---|
| Type of Securities | Secured, Unlisted, Redeemable, Non-Convertible Debentures (NCDs) |
| Total Issue Size | INR 10 Crores |
| Number of NCDs | Up to 20 |
| Face Value per NCD | INR 50 Lakhs |
| Issuance Method | Private Placement |
The debenture instrument has a tenure of 24 months, with the date of allotment being June 4, 2026, and the maturity date set for June 4, 2028.
Key financial terms associated with the NCDs include:
- Coupon Rate: A fixed interest rate of 11% per annum (p.a.) was offered.
- Interest Payment: Interest payments are scheduled monthly.
- Principal Repayment: The principal amount is due for repayment on the date of maturity, June 4, 2028.
The debentures carry a substservient charge over all current assets of the Company. In case of default or delay in payment of interest or coupon and/or redemption of principal, the company must pay additional interest at 2% p.a. above the coupon rate for the defaulting period. The NCDs are scheduled to be redeemed at par on maturity out of internal accruals and/or other permissible sources.
VIKRAN Stock Price Movement
Shares of Vikran Engineering Limited are edging higher to ₹71.65 as of 11:07 AM, gaining 0.49% in live trading. The stock sees significant activity, with 871,409 shares traded during the session, maintaining a tight intraday range between ₹70.6 and ₹72.15.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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