Suraj Estate Developers Allots ₹10 Crore NCDs, Completing ₹70 Crore Debt Raise
Suraj Estate Developers Limited has completed its ₹70 Crore debt raise by allotting ₹10 Crore worth of NCDs to IDBI Trusteeship Services Limited on July 23, 2026. The NCDs mature in 38 months with a 17% interest rate.
The debt issuance is a significant financial event for the company, impacting its capital structure and future interest obligations.
The company successfully completed its planned debt fundraising, indicating financial stability and the ability to access capital.
Suraj Estate Developers Limited has announced the successful allotment of the remaining 1,00,00,000 (One Crore) Unlisted, Secured, Rated, Redeemable, Non-Convertible Debentures (NCDs), each with a face value of ₹10, aggregating to ₹10,00,00,000 (Rupees Ten Crore).
This allotment, made on a private placement basis to IDBI Trusteeship Services Limited, acting as the Trustee for India Real Estate Investment Fund – Series 2, completes the company's previously approved debt raising of ₹70,00,00,000 (Rupees Seventy Crore). The NCDs carry a coupon rate of 17% per annum, with interest payable monthly. The initial disbursement date is July 23, 2026, and the maturity date is 38 months from the allotment date. The company will redeem the debentures in 24 equal monthly installments starting from the 25th month.
Previously, on February 29, 2024, the company had allotted 6,00,00,000 NCDs aggregating ₹60,00,00,000 to the same fund, which have since been fully redeemed. The current allotment represents the balance portion of the originally approved debt issuance. The meeting of the Management Committee where this allotment was approved commenced at 5:00 p.m. and concluded at 6:00 p.m. on July 23, 2026.
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Suraj Estate Developers 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 Suraj Estate Developers Limited. Read the original for the full detail.