Suraj Estate Developers Completes ₹70 Crore NCD Issuance
Suraj Estate Developers Limited completed its ₹70 crore NCD issuance by allotting the final ₹10 crore tranche on July 23, 2026. These are Unlisted Secured Non-Convertible Debentures with a 38-month tenure and interest rates up to 17% p.a. The issuance was approved on February 29, 2024, and the company has now fully utilized the approved debt raising.
The issuance of NCDs represents a significant debt fundraising amount for the company, impacting its capital structure and financial obligations.
The company successfully completed its debt fundraising exercise as planned, which is a positive development for its financial operations.
Suraj Estate Developers Limited has completed the issuance of Unlisted Secured Non-Convertible Debentures (NCDs) aggregating ₹70 crore. In a meeting held on July 23, 2026, the Management Committee approved and allotted the balance 1 crore NCDs, valued at ₹10 crore, on a private placement basis to IDBI Trusteeship Services Limited, acting as the Trustee for India Real Estate Investment Fund – Series 2.
This allotment represents the final portion of the NCDs initially approved by the Management Committee on February 29, 2024, for a total of 7 crore NCDs worth ₹70 crore. The company had previously allotted 6 crore NCDs aggregating ₹60 crore to India Real Estate Investment Fund – Series 2 on February 29, 2024, which have since been fully redeemed and repaid.
The newly allotted NCDs have a face value of ₹10 each, with a tenure of 38 months from the allotment date of July 23, 2026. The interest rate is structured with 12% per annum for the first 24 months and 17% per annum thereafter, payable monthly. The debentures are secured by a paripassu charge over properties in Mahim Division and Shivaji Park Scheme, Mumbai. The meeting of the Management Committee 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.