Suraj Estate Developers approves allotment of ₹45 Crore NCDs
Suraj Estate Developers approved the allotment of 4,50,00,000 Unlisted, Secured, Non-Convertible Debentures (NCDs) worth ₹45 Crores. The NCDs are for a tenure of 42 months with interest rates of 12% for the first 24 months and 17% thereafter. Allotment is to IDBI Trusteeship Services Limited.
The fundraising through NCDs of ₹45 Crores is a significant amount for the company, impacting its capital structure and debt obligations. The interest rate of up to 17% is also noteworthy.
The company has successfully raised funds through NCDs, which is a neutral event as it involves debt financing and does not immediately indicate growth or decline.
Suraj Estate Developers Limited announced the outcome of its Management Committee meeting held on February 21, 2026. The committee approved the allotment of 4,50,00,000 Unlisted, Secured, Non-Convertible Debentures (NCDs) with a face value of ₹10 each, aggregating up to ₹45 Crores.
These NCDs have been allotted on a private placement basis to IDBI Trusteeship Services Limited, acting as the Trustee for India Real Estate Investment Fund Series 2. The meeting commenced at 05:00 p.m. and concluded at 06:00 p.m. on February 21, 2026.
The NCDs have a tenure of 42 months from the date of allotment. The interest rate offered is 12% per annum for the first 24 months, increasing to 17% per annum from the 25th month onwards. Interest is payable monthly. Principal repayment will commence from the 25th month in 18 equal monthly installments, following a 24-month moratorium period. The NCDs are secured by charges over specific properties and development rights owned by the company in Mumbai.
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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.