Latest news with #Non-ConvertibleDebentures
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Business Standard
2 days ago
- Business
- Business Standard
Aavas Financiers climbs 2% as board approves raising ₹200 crore via NCDs
Aavas Financiers share price rose 2.3 per cent in trade on Thursday, June 19, 2025, logging an intraday high at ₹1867.8 per share on BSE. At 9:39 AM, Aavas Financiers shares were trading 1.06 per cent higher at ₹1,843.75 per share on the BSE. In comparison, the BSE Sensex was up 0.03 per cent at 81,469.02. The company's market capitalisation stood at ₹14,594.55 crore. Its 52-week high was at ₹2,238.35 per share and 52-week low was at ₹ 1,604.2 per share. What led to a rally in Aavas Financiers shares? The northward movement in Aavas Financiers shares came after the company informed investors, after market hours on Wednesday, that its board has approved the issuance of up to 20,000 Non-Convertible Debentures (NCDs) having face value of ₹1,00,000 each, of the aggregate nominal value of up to ₹200 crore. The tenure of the instrument is 60 months from the deemed date of allotment. The payment of interest is scheduled every quarter from the date of allotment. Meanwhile, the principal amount of the debentures will be repaid by the company to the holders in 20 equal quarterly installments of ₹5,000 per debenture starting from the allotment date. Track LIVE Stock Market Updates What are NCDs? Non-convertible debentures are a type of debt instrument issued by companies to raise funds from the public or institutional investors. They are fixed-income securities that offer a fixed interest rate and are typically issued for a specific tenure. Why do companies issue NCDs? The company issues NCDs to raise capital and to lower the cost of borrowing as for some companies, issuing NCDs may be a cheaper alternative to borrowing from banks. About Aavas Financiers The company was incorporated as a private limited company in Jaipur, Rajasthan, under the Companies Act, 1956 on February 23, 2011. The company formally started its operations in March 2012. The company is engaged in the business of providing housing loans, primarily, in the un-served and un-reached markets which include Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Haryana, Uttar Pradesh, Chhattisgarh, Uttarakhand, Punjab, Himachal Pradesh, Delhi, Odisha, Karnataka and Tamil Nadu. Currently, it is operating in 14 states with a total of 397 branches.
Mint
30-05-2025
- Business
- Mint
LIC-owned NBFC sets board meeting date to consider NCDs allotment. Details here
Dhanya Nagasundaram Published 30 May 2025, 09:44 AM IST Mint Image Paisalo Digital's board is scheduled to meet on June 3, 2025 to consider and approve the allotment of Non-Convertible Debentures (NCDs) through a private placement basis.
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Business Standard
23-05-2025
- Automotive
- Business Standard
Ola Electric up 7% as board approves ₹1700-cr fundraise via NCDs and others
Ola Electric Mobility shares climbed 7.3 per cent in trade on Friday, May 23, 2025. The demand for the stock came after the company's board approved the issuance of securities aggregating up to ₹1,700 crore. At 1:31 PM, Ola Electric share price was up 4.1 per cent at ₹53.61 per share on the BSE. In comparison, the BSE Sensex was up 1.07 per cent at 81,819.89. The market capitalisation of the company stood at ₹23,646.46 crore. The 52-week high of the stock was at ₹157.53 per share and the 52-week low of the stock was at ₹45.55 per share. Ola Electric fundraising On Thursday, through a filing, Ola Electric's board approved to raise ₹1,700 crore via the issuance of Non-Convertible Debentures (NCDs) or any other eligible debt securities. The company will also raise funds through term loans, and working capital facilities. "We would like to inform you that the Board of Directors of Ola Electric Mobility Limited ("the company"), at its meeting held today, Thursday, May 22, 2025, has inter-alia, considered and approved the proposal of fundraising by borrowing funds within the borrowing limits approved by the shareholders of the Company, by way of: (i) term loans, working capital facilities; or (ii) issuance of Non-Convertible Debentures (NCDs) or any other eligible debt securities, in one or more tranches, on a private placement basis or such other methods, as may be permitted under applicable laws," the filing read. About Ola Electric Ola Electric Mobility is an Indian electric vehicle (EV) company, founded with the aim of accelerating India's transition to sustainable mobility, Ola Electric focuses primarily on the design, manufacturing, and sale of electric scooters. The company launched its flagship products, the Ola S1 and S1 Pro, in 2021, quickly becoming one of the leading players in India's fast-growing EV two-wheeler segment. With a strong emphasis on local manufacturing, including its large-scale Futurefactory in Tamil Nadu, Ola Electric also aims to expand into electric motorcycles and cars, as part of its long-term vision to build a comprehensive EV ecosystem.
Time of India
20-05-2025
- Business
- Time of India
Embassy REIT raises Rs 2,000 crore debt through NCDs priced at 7.21%
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Real estate investment trust Embassy Office Parks REIT has raised Rs 2,000 crores of debt through the issuance of Non-Convertible Debentures (NCDs). The proceeds from this issuance will be used to refinance certain existing debt listed REIT has secured these coupon-bearing funds at an interest rate of approximately 7.21% for a tenure of three refinancing initiative is expected to generate a saving of around 77 basis points in interest costs when compared to the rate being paid on the existing debt being refinanced, the REIT said. The refinancing is a part of the REIT's ongoing capital management transaction saw participation from 11 institutional investors. The investor base included a range of financial institutions who subscribed to the issue, reflecting continued engagement from debt market participants.'This transaction showcases Embassy REIT's robust balance sheet…We maintain a well-diversified and conservative debt book, and this refinancing positions us well to capitalize on future growth opportunities,' said Ritwik Bhattacharjee, Chief Executive Officer of Embassy REIT In view of the current interest rate environment, the REIT has decided to exercise the call option on its Series IX NCDs amounting to Rs 500 crores. These NCDs carry a coupon of 8.03%. The early repayment of this tranche will take place on June 4, ahead of the scheduled maturity date of September REIT owns and operates a portfolio measuring 51.1 million square feet. This portfolio comprises 14 office parks located across the major Indian office markets of Bengaluru, Mumbai, Pune, the National Capital Region (NCR), and Chennai. Of the total, 40.3 million square feet is completed and operational, and it is occupied by 272 tenant portfolio further includes four operational business hotels, two hotels currently under construction, and a 100 MW solar park that supplies renewable energy to its tenants.
Mint
16-05-2025
- Business
- Mint
LIC-owned NBFC stock approves raising up to ₹50 crore via NCDs. Details here
LIC-backed non-banking financial company (NBFC) Paisalo Digital has approved raising funds up to ₹ 50 crore through the issuance of Non-Convertible Debentures (NCDs). The fundraising proposal was cleared by the company's Operations and Finance Committee at its meeting held on May 15, 2025, as per a regulatory filing. The proposed issue will take place through private placement on the Electronic Book Provider (EBP) platform, and involves the issuance of up to 5,000 NCDs, each with a face value of ₹ 1 lakh. The base size of the issue is ₹ 25 crore, with an option to retain oversubscription of another ₹ 25 crore, taking the total potential raise to ₹ 50 crore. The debentures will carry a coupon rate of 10 percent per annum and have a maturity period of 24 months. Interest payments will be made monthly, and the principal will be redeemed at par at the end of the term. The NCDs are proposed to be listed on the BSE. The tentative date of allotment is May 22, 2025, subject to regulatory approvals. The issue will be secured by a first-ranking pari-passu charge on hypothecated receivables, with a security cover of at least 1.10 times the principal amount outstanding. In the event of any delay in the payment of interest or principal, the company will offer an additional 2 percent per annum coupon as compensation. Paisalo clarified that there are no special rights or privileges attached to the instrument and that the proposal has not been modified or cancelled. The issuance is being made in accordance with SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. Paisalo Digital counts some heavyweight institutional investors among its shareholders. LIC holds 77.6 lakh shares, representing a 1.17 percent stake, which would drop slightly to 1.03 percent assuming full conversion of convertible securities. Meanwhile, SBI Life Insurance owns over 6.21 crore shares, holding a 9.36 percent stake. Post conversion, its stake would stand at 8.26 percent, based on data from the stock exchanges. Despite the positive announcement, Paisalo Digital's stock has been under pressure, shedding 47 percent over the last one year. The stock fell for five consecutive months, including 5.2 percent in April, 8 percent in March, 14.3 percent in February, 13.3 percent in January, and 2.4 percent in December. However, May brought some respite with the stock rising 6 percent month-to-date, signaling a possible trend reversal. Still, it remains over 57 percent below its 52-week high of ₹ 81.95, touched in July 2024. On the upside, it has recovered 17 percent from its 52-week low of ₹ 29.75, hit in April 2025.
