Pakka Limited Allots ₹50 Crore NCDs to Neo Special Credit Opportunities Fund II
Pakka Limited has allotted ₹50 Crore worth of secured non-convertible debentures (NCDs) on a private placement basis. The allotment includes ₹30 Crore in junior series and ₹20 Crore in senior series NCDs to Neo Special Credit Opportunities Fund II. This is part of a larger ₹540 Crore NCD issuance.
The issuance of NCDs for ₹50 Crores, while part of a larger ₹540 Crore program, represents a significant debt fundraising activity. This can impact the company's capital structure and financial leverage, making the impact medium.
The announcement details the allotment of NCDs as part of an ongoing fundraising plan. While it signifies successful fundraising, it's a routine financial activity and doesn't inherently indicate a significant positive or negative shift in the company's immediate prospects.
Pakka Limited has announced the allotment of the third tranche of its unlisted, secured, redeemable non-convertible debentures (NCDs) on a private placement basis. The Fund Raising Committee of the Board of Directors, in its meeting held on October 8, 2026, approved the allotment aggregating up to ₹50 Crores.
This issuance comprises 3,000 junior series NCDs with a face value of ₹1,00,000 each, aggregating ₹30 Crores, and 2,000 senior series NCDs with a face value of ₹1,00,000 each, aggregating ₹20 Crores. The NCDs have been allotted to Neo Special Credit Opportunities Fund II, a SEBI-registered Category II Alternative Investment Fund. The total issue size for these NCDs is ₹540 Crores, as approved by the Board of Directors on May 26, 2026.
The junior series NCDs carry an interest rate of 19.40% per annum and are redeemable up to May 31, 2035. The senior series NCDs have an interest rate of 11.50% per annum and are redeemable up to June 30, 2033. The allotment was made within three days of fund receipt. The NCDs are secured by a mortgage and charge on the company's assets, including project assets and current assets, as well as a pledge over certain securities.
What to do with a filing like this
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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