The company aims to raise up to ₹600 crore under this tranche, within an overall approved shelf limit of ₹3,000 crore. The issue includes a base size of ₹200 crore and a green shoe option of ₹400 crore.
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According to the company, the proceeds will be used for onward lending, financing activities, repayment or prepayment of existing borrowings, and general corporate purposes.
The NCDs, with a face value of ₹1,000 each, offer effective annual yields ranging from 8.84% to 9.25% across tenures of 24, 36, 60, and 72 months.
The issue will remain open until May 8, subject to early closure in line with regulatory provisions. The instruments have been rated “AA-/Positive” by CRISIL Ratings Limited and “AA/Stable” by Brickwork Ratings India Private Limited, indicating a high degree of safety regarding timely servicing of financial obligations.
The company plans to list the NCDs on the debt market segment of BSE.
For retail investors applying through intermediaries, applications up to ₹5 lakh are required to be made using UPI for fund blocking, along with a valid UPI ID. Applications can also be submitted through self-certified syndicate banks and stock exchange platforms.
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