Shree Cement Ltd's Board Approves Proposal Issue Of NCDs Worth Rs 700 Cr

Shree Cement Ltd. on Monday, Sept 25, announced that its Board of Directors has approved a proposal to raise up to Rs 700 crore via an issue of non-convertible debentures (NCDs) on a private placement basis.

The secured, rated redeemable and taxable NCDs with a base issue size of Rs. 350 crore with an option to retain oversubscription up to Rs. 350 crore aggregating to a total Issue size up to Rs. 700 crore.

The NCDs will be allotted on September 26, 2023, at a face value of Rs 1,00,000 each for cash at par, the Sharee Cement said..

The maturity date of the NCDs that will be offered through a private placement to certain eligible investors is October 26, 2030. The interest will be payable on an annual basis and on redemption.

The company is an exchange filing, "In continuation to our letter dated 19th September, 2023 and pursuant to Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 ("Regulations") read with Para A of Part A of Schedule III of the Regulations, we hereby inform you that the "NCD Committee" of the Board of Directors of the Company at its meeting held today, has approved the issuance of secured, rated, redeemable, taxable, non-convertible debentures ("NCDs") with a base issue size of Rs. 350 crore with an option to retain oversubscription upto Rs. 350 crore aggregating to a total Issue size of upto Rs. 700 crore (Rupees Seven Hundred Crores) on private placement basis to certain eligible investors permitted to invest in the NCDs under applicable laws."

S. No.	Particulars	Details
1	Size of the issue	Base issue size of Rs. 350 crore with an option to retain oversubscription upto Rs. 350 crore aggregating to a total Issue size upto Rs. 700 crore. (Face Value of Rs. 1,00,000 each for cash at Par)
2	Whether proposed to be listed, if yes, name of the stock exchange(s)	Proposed to be listed on debt segment of :- 1. BSE Limited 2. National Stock Exchange of India Ltd.
3	Tenure of the instrument- date of allotment and date of maturity;	Deemed date of Allotment: 26.09.2023 Date of Maturity : 26.10.2030
4	Schedule of payment of coupon/ interest and principal;	Interest payable on annual basis and on redemption. Repayment : Upon redemption on 26.10.2030
5	Charge/security, if any, created over the assets	First pari-passu charge by way of equitable mortgage over the specific immovable property of the Company and First pari-passu Charge by way of Hypothecation over movable fixed assets of the Company.
6	Special right/ interest/ privileges attached to the instrument and changes thereof	Nil
7	Delay in payment of interest / principal amount for a period of more than three months from the due date or default in payment of interest / principal	Nil
8	Details of any letter or comments regarding payment/ non-payment of interest, principal on due dates, or any other matter concerning the security and /or the assets along with its comments thereon, if any	Not Applicable

On Monday, share Cement's shares closed 0.36% higher at Rs 25,839.80 apiece on the BSE. The stock declined 2.08% in 1 week. It gained 21.94% in 1 year. It gained 35.99% in 3 years and 50.19% in 5 years, respectively.

Its 52-week high is Rs 27,100 and apiece and 52-week low is Rs 20,165.80 apiece on the BSE.

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