Himatsingka Seide Allots ₹25 Crore in Non-Convertible Debentures
Himatsingka Seide Limited has allotted ₹25 crore worth of Tranche 5 Series E Non-Convertible Debentures. The debentures mature on February 28, 2030, and carry an interest rate of 11.50% p.a. The issuance was done on a private placement basis.
The allotment of NCDs is a standard financing activity and is unlikely to have a material impact on the company's overall financial performance or market position.
The announcement is a routine debt fundraising activity and does not present any significant positive or negative financial implications beyond the stated terms.
Himatsingka Seide Limited has announced the allotment of 500 Tranche 5 Series E Unlisted, Senior, Secured, Unrated, Redeemable, Taxable Transferable Non-Convertible Debentures (NCDs). The allotment, approved by the Securities Committee of the Board of Directors on August 28, 2026, aggregates to ₹25,00,00,000 (Rupees Twenty-Five Crores only).
Each NCD has a face value of ₹5,00,000 (Rupees Five Lakh only), and the issuance was made on a private placement basis. These debentures carry an interest rate of 11.50% per annum, payable quarterly. The principal amount is scheduled to be repaid in three installments at the end of 30, 36, and 42 months from the deemed date of allotment. The maturity date for these debentures is February 28, 2030.
The NCDs are secured by a first pari passu charge over the company's fixed assets at its manufacturing plants in Hassan and Doddaballapur, Karnataka, along with a negative lien on a specific land parcel and an exclusive charge over the Subscription Escrow Account. There is a penalty of 2% for delays in interest or principal payments exceeding three months from the due date.
A plain-language summary of a public exchange filing by Himatsingka Seide Limited. Read the original for the full detail.