Embassy Developments Raises Rs 105 Crore Via NCDs

Embassy Developments Ltd has successfully raised Rs 105 crore through the allotment of non-convertible debentures.
The instrument carries a 12.50% annual coupon rate with a maturity date of September 22, 2028.

Reader Takeaway: The company secures long-term capital at 12.5% interest, though the unlisted nature reduces immediate liquidity for investors.

What just happened

Embassy Developments Ltd has completed the private placement of 10,500 secured, redeemable, taxable, non-convertible debentures. This transaction brings in Rs 105 crore in capital, utilizing a portion of the Rs 160 crore limit authorized by the company's board.

Transaction Details

The debentures carry a 12.50% per annum coupon rate, which will be paid out on a semi-annual basis. The notes are scheduled to mature on September 22, 2028, though the company maintains the flexibility for full or partial prepayment according to the terms of the trust deed. These instruments will remain unlisted on any stock exchange.

Security and Governance

The debt is backed by a charge created on specific assets held by the company and its subsidiaries. The firm has confirmed that the issuance adheres to standard commercial terms, with no special privileges attached. As of the current disclosure, the company remains in good standing regarding payment obligations, with no defaults or delays reported in its interest or principal servicing.