Setco Automotive Subsidiary Waives ₹75.50 Crore Investor IRR for FY26
Setco Auto Systems Private Limited, a subsidiary of Setco Automotive Limited, has waived accrued Investor IRR of ₹75.50 crore for FY26 on its listed Non-Convertible Debentures. The waiver was approved by the subsidiary's board on March 20, 2026, with consent from debenture holders.
The waiver of ₹75.50 crore in interest is a significant amount for a subsidiary, which could positively impact the consolidated financial results of Setco Automotive Limited. However, it does not fundamentally alter the company's business model or market position, hence the medium impact.
The waiver of interest payments by the subsidiary is a positive development as it reduces the financial burden on the company and improves its cash flow, potentially leading to better financial performance.
Setco Auto Systems Private Limited (SASPL), a material subsidiary of Setco Automotive Limited, has approved the waiver of accrued Investor IRR at 18% per annum amounting to ₹75.50 crore for the Financial Year 2025-26.
This waiver pertains to the listed Non-Convertible Debentures issued by SASPL under Debenture Trust Deeds dated August 31, 2021, and July 19, 2024. SASPL has obtained the necessary consent from the Debenture Trustee and Debenture Holders for this waiver, which was approved at the subsidiary's Board Meeting held on March 20, 2026.
The waiver is in accordance with the terms of the Debenture Trust Deeds and applicable laws. There are no changes to the principal amount or other key terms of the Debentures, apart from this waiver.
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Setco Automotive 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 Setco Automotive Limited. Read the original for the full detail.