Sammaan Capital Allots ₹400 Crore NCDs via Private Placement
Sammaan Capital allots ₹400 Crore NCDs via private placement with varying coupon rates and maturity dates, secured by the company's assets.
The debt fundraising could have a moderate impact on the company's financials and operations.
The announcement is a routine disclosure regarding the allotment of NCDs, with no indication of positive or negative sentiment.
* Sammaan Capital Limited allotted secured, rated, listed, taxable, redeemable, fully paid-up, non-convertible debentures (NCDs) on a private placement basis. * The allotment includes: * 20,000 NCDs of face value ₹1,00,000 each, aggregating to ₹200 Crore (“Series I”). ISIN - INE148I07YE1 * 20,000 NCDs of face value ₹1,00,000 each, aggregating to ₹200 Crore (“Series II”). ISIN - INE148I07YF8 * Series I NCDs have a coupon rate of 9.30% payable annually and at maturity, with maturity date of October 16, 2035. * Series II NCDs have a coupon rate of 9.15% payable annually and at maturity, with maturity date of October 16, 2030. * The NCDs are secured by a charge on the company's financial and non-financial assets with a minimum asset/security cover of 1.1 times the principal amount and interest thereon. * In case of default in payment of Interest and/or principal redemption on the due dates, additional interest of at least @ 2% p.a. over the coupon rate shall be payable by the Company for the defaulting period.
What to do with a filing like this
Sammaan Capital 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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See the model portfoliosA plain-language summary of a public exchange filing by Sammaan Capital Limited. Read the original for the full detail.