GP Petroleums to Raise ₹130 Crore via NCDs and OCDs from RevX Fund
GP Petroleums will raise ₹30 Crore via NCDs and ₹100 Crore via OCDs from RevX Special Credit Opportunities Fund II. The NCDs have a 36-month tenure and 13% coupon. OCDs have an 18-month tenure, 13% coupon, and conversion option into equity. Shareholder approval is required.
The fundraising of ₹130 Crore is substantial and will provide the company with necessary funds for growth and working capital. However, it is debt financing and requires shareholder approval, indicating it's not an immediate, fully assured capital infusion.
The company is raising significant capital through NCDs and OCDs, which will support its working capital needs and business growth. The terms of the debt instruments appear reasonable with a clear coupon rate and tenure.
GP Petroleums Limited's Board of Directors, in a meeting held on September 30, 2026, has approved the issuance of Non-Convertible Debentures (NCDs) and Optionally Convertible Debentures (OCDs) to RevX Special Credit Opportunities Fund II to support working capital requirements and business growth.
The company will issue up to ₹30 Crore (Rupees Thirty Crores) in NCDs, which are secured, unrated, unlisted, and redeemable. These NCDs will have a face value of ₹10,00,000 each, a tenure of 36 months from the allotment date, and an annual coupon rate of 13% compounded monthly, payable quarterly, with an additional 1.50% on disbursement.
Additionally, the company plans to issue up to ₹100 Crore (Rupees One Hundred Crores) in OCDs, also on a preferential basis through private placement. These OCDs will have a face value of ₹10,00,000 each, a tenure of up to 18 months from the allotment date, and carry a coupon rate of 13% per annum, compounded monthly and payable quarterly, with an additional 1.50% on the deemed date of allotment. The OCDs offer an option to convert into equity shares at a predetermined conversion price, and the equity shares issued upon conversion are proposed to be listed on BSE and NSE.
Both issuances are subject to shareholder approval via a postal ballot and other necessary regulatory and statutory approvals. The Board Meeting commenced at 3:10 PM and concluded at 4:05 PM on September 30, 2026.
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GP Petroleums Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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