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Time of India
21-07-2025
- Business
- Time of India
Lodha Developers raises ₹350 crore via private placement of NCDs
NEW DELHI: Lodha Developers (formerly Macrotech Developers ) has raised ₹350 crore through a private placement of 35,000 rated, listed, senior, secured, redeemable, taxable, and transferable non-convertible debentures ( NCDs ), according to a regulatory filing with the stock exchanges on Monday. The debentures, carrying a face value of ₹1 lakh each, have been listed on the Wholesale Debt Market segment of BSE. The issuance was approved by the company's executive committee on July 21, 2025, with allotment and deemed date of allotment also on the same day. The NCDs carry a floating interest rate structure pegged to the three-month MIBOR with a spread of 2.09% per annum. Based on the prevailing MIBOR, the current coupon rate stands at 8.19% per annum. The coupon will reset quarterly and will be paid annually starting July 21, 2026. A downward revision in the spread by 10 basis points is scheduled from the second reset, six months after issuance. Redemption of the NCDs will be executed in eight equal quarterly instalments beginning March 31, 2026, with final maturity scheduled for January 21, 2028. The instrument is secured with a first-ranking charge over specified company assets, as outlined in the Key Information Document dated July 16, 2025. Additionally, the company recently raised ₹300 crore through the allotment of 30,000 NCDs at the same face value of ₹1 lakh each. These debentures offer a fixed interest rate of 7.96% per annum, payable quarterly starting September 30, 2025, and are scheduled to mature on July 7, 2028. The instrument is similarly secured, aimed at enhancing the company's funding profile and refinancing existing liabilities.
News18
20-07-2025
- Business
- News18
THDC India raises Rs 600 cr via NCDs
Agency: PTI New Delhi, Jul 20 (PTI) State-owned THDC India raised Rs 600 crore through issuance of non-convertible debentures on private placement basis on July 18, a statement said. The issuance was at a coupon rate of 7.45 per cent with maturity of 10 years. Proceeds of the bonds will be utilized to partly meet debt requirements of ongoing and under construction projects including recoupment of expenditure already incurred and to refinance the existing loans. Sipan Kumar Garg, Director (Finance) and CFO said the bond issue had a base size of Rs 200 crore and a green shoe option of Rs 400 crore, aggregating to a total issue size of Rs 600 crore. THDC India is steadily expanding its portfolio across diverse energy portfolios, and the funds mobilized through this issuance will further strengthen the company's financial position and support its ongoing strategic projects, the statement said. The debt securities will be listed on the Wholesale Debt Market (WDM) Segment of BSE and NSE on July 23, it said. The company has so far issued a total of 13 series of bonds and has successfully raised Rs 10,442 crore from the corporate debt market. PTI ABI ANU Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
