Ashima To Raise Rs 70 Crore Via Private Placement Of NCDs

Ashima Ltd has announced the issuance of 7,000 unlisted, secured, unrated, redeemable, rupee-denominated Non-Convertible Debentures (NCDs) of Rs 1 lakh each, aggregating to Rs 70 crore, on a private placement basis.

The NCDs, carrying a coupon rate of 7.5% per annum, will have a tenure of nine years from the date of allotment (July 31, 2025) with a Put Option available after two years. Interest will be paid annually on March 31, and principal repayment is scheduled at maturity, subject to early redemption through the put option.

To secure the issue, Ashima will create a first charge on non-agricultural land through a registered mortgage deed. In case of delay in payment, the company will be liable to pay an additional 1% per annum interest for the delayed period.