The issue will remain open until September 22, 2026, unless it is closed earlier. It has a base issue size of ₹350 crore and a green shoe option of another ₹350 crore.
The NCDs have a face value of ₹1,000 each and are available across tenures of 24, 36, 60 and 72 months. The effective annual yield ranges from 8.89% to 9.25%, depending on the series and tenure.
The company plans to use the net proceeds for onward lending and financing, repayment or prepayment of interest and principal on existing borrowings, and general corporate purposes.
The NCDs have been rated ‘Crisil AA/Stable’ by Crisil Ratings and ‘BWR AA+/Stable’ by Brickwork Ratings India. The company has proposed listing the securities on the debt market segment of BSE.
For individual investors applying through intermediaries, applications of up to Rs 5 lakh need to be made through UPI for fund blocking, along with a valid UPI ID. Applications can also be made through self-certified syndicate banks and the stock exchange platform.
The tranche is part of an overall shelf limit of ₹3,000 crore approved for the company’s NCD programme.Investors should note that NCDs carry credit, interest rate and other risks. The terms, risk factors and other details are set out in the tranche prospectus dated September 3.
