Pakka Limited Allots ₹375 Crore in NCD Tranche 1
Pakka Limited allotted the first tranche of NCDs worth ₹375 Crores on June 2, 2026. This is part of a total ₹540 Crores issue. The NCDs include junior series (₹225 Cr, 19.40% interest, tenure up to 2035) and senior series (₹150 Cr, 11.40% interest, tenure up to 2033).
The fundraising of ₹375 Crores is a substantial amount, indicating a significant financial event for the company, which could impact its capital structure and future investments.
The company successfully raised a significant amount of debt financing through NCDs, which is generally a positive development for funding growth and operations.
Pakka Limited has announced the allotment of the first tranche of unlisted, secured, redeemable, non-convertible debentures (NCDs) on a private placement basis, aggregating ₹375 Crores. This allotment is part of a larger issue of ₹540 Crores approved by the Board of Directors on May 26, 2026.
The Fund Raising Committee of the Board of Directors, in its meeting held on June 2, 2026, approved the allotment of these NCDs. The meeting commenced at 09:30 a.m. and concluded at 10:45 a.m.
The first tranche consists of 22,500 unlisted, junior, secured, unrated, redeemable NCDs with a face value of ₹1,00,000 each, aggregating up to ₹225 Crores, and 15,000 unlisted, senior, secured, unrated, redeemable NCDs with a face value of ₹1,00,000 each, aggregating up to ₹150 Crores.
The Junior Series NCDs have a tenure up to May 31, 2035, with an annual interest rate of 19.40%. The Senior Series NCDs have a tenure up to September 30, 2033, with an annual interest rate of 11.40%. The allotment is made within 3 days of receipt of funds, and the NCDs are secured by a charge on the company's assets, including project assets and current assets.
The allottees for the Junior Series include Neo Special Credit Opportunities Fund, Neo Special Credit Opportunities Fund II, Neo Credit Opportunities Fund I, Neo Special Credit Opportunities Fund IIA, and Neo Prime Fund. The Senior Series also includes allotments to Neo Special Credit Opportunities Fund, Neo Special Credit Opportunities Fund II, Neo Credit Opportunities Fund I, Neo Special Credit Opportunities Fund IIA, and Neo Prime Fund. These entities are SEBI-registered Category II Alternative Investment Funds.
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PAKKA 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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