The NCDs carry a coupon rate of 3-month MIBOR plus a spread of 2.09%, translating to a current effective rate of 8.19% per annum, the company said in a regulatory filing.
The coupon will reset quarterly, linked to the prevailing 3-month MIBOR, while the coupon payments will be made annually, starting July 21, 2026. The spread will be reduced by 10 basis points to 1.99% from the second coupon reset, i.e., six months after the deemed date of allotment.
The redemption will take place at face value in eight quarterly instalments beginning March 31, 2026, with the final payment due on the maturity date of January 21, 2028.
The securities are proposed to be listed on the Wholesale Debt Market segment of the Bombay Stock Exchange (BSE). The date of allotment for the NCDs is July 21, 2025. Ends
