Suraj Estate Developers Approves Allotment of 4.5 Crore NCDs Worth ₹45 Crore
Suraj Estate Developers approved the allotment of 4.5 crore Unlisted, Secured, Non-Convertible Debentures (NCDs) worth ₹45 crore. The NCDs are secured and carry an interest rate of up to 17% p.a., with a tenure of 42 months. The funds were raised via private placement from IDBI Trusteeship Services Limited.
The issuance of NCDs is a significant fundraising activity that can impact the company's capital structure and financial leverage, but it is not a core business operation announcement like results or acquisitions.
The company has successfully raised funds through the issuance of Non-Convertible Debentures, which is generally viewed positively as it strengthens the company's financial resources.
Suraj Estate Developers Limited has announced the outcome of its Management Committee meeting held on February 21, 2026. The committee approved the allotment of 4,50,00,000 (Four Crores and Fifty Lakhs) Unlisted, Secured, Non-Convertible Debentures (NCDs) with a face value of ₹10 each, aggregating up to ₹45,00,00,000 (Forty-Five Crores).
The 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 carry a coupon rate of 17% per annum, accrued monthly. For the first 24 months, the interest rate will be 12% p.a., increasing to 17% p.a. from the 25th month onwards. The principal repayment will be made in 18 equal monthly installments starting from the 25th month, with a total tenure of 42 months from the date of allotment. The debentures are secured by a pari-passu charge over identified properties and development rights in Mumbai, as well as a first and exclusive charge over other specified properties and development rights.
The allotment is a significant fundraising activity for the company, aimed at strengthening its financial position.
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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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