Anupam Rasayan allots ₹145 Cr NCDs to Aditya Birla Capital at 10.25% coupon
- Anupam Rasayan India Limited allotted ₹145 crore in secured NCDs to Aditya Birla Capital
- The instruments carry a 10.25% annual coupon and mature in 13 months by October 2027
- Security includes a first-ranking pledge over promoter shares and hypothecation of an Axis Bank escrow account
- Proceeds will be used for repaying existing debt, investing in group companies, or general corporate purposes
*this image is generated using AI for illustrative purposes only.
Anupam Rasayan India Limited has allotted ₹145 crore worth of senior secured, unlisted non-convertible debentures (NCDs) to Aditya Birla Capital Limited. The allotment was executed by the Executive Committee of the Board on September 21, 2026, pursuant to powers delegated by the Board at its meeting on September 19, 2026.
The issue comprises 14,500 debentures with a face value of ₹1 lakh each. The instruments carry a coupon rate of 10.25% per annum and have a tenure of 13 months, maturing on October 21, 2027.
Debt Structure and Security
The NCDs are structured with a partial redemption schedule. The company is required to redeem ₹99,500 per debenture, along with accrued interest, on or before October 21, 2026. The residual principal of ₹500 per debenture, along with accrued interest, will be payable in full on the final maturity date of October 21, 2027.
The debt is secured by:
- A first-ranking pledge over shares held by promoters Anand Sureshbhai Desai, Mona Anandbhai Desai, Shraddha Anand Desai, and Rehash Industrial and Resins Chemicals Private Limited.
- A charge by way of hypothecation over an escrow account maintained with Axis Bank Limited, comprising monies, securities, fixed deposits, and investments.
CTL Trusteeship Limited has been appointed as the Debenture Trustee. The company has executed the Debenture Trust Deed, Debenture Trust Agreement, and Deed of Hypothecation to formalize these arrangements.
Utilization of Proceeds
The proceeds from the issuance are designated for the repayment of existing debt facilities, investment in group companies, or general corporate purposes. The funds cannot be used for prohibited purposes, including capital markets activities or real estate investments.
What the Numbers Show
The issuance structure indicates a focus on near-term liquidity management. By requiring a partial redemption of approximately 99.5% of the principal value within just one month of allotment (by October 21, 2026), the instrument functions effectively as a short-term bridge financing facility rather than a long-term capital raise. This suggests the company may be utilizing these funds to refinance imminent debt obligations while retaining a small residual balance for the full 13-month period.
Historical Stock Returns for Anupam Rasayan
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.20% | -1.76% | -5.50% | -5.50% | -5.50% | -5.50% |
How will the high coupon rate of 10.25% impact Anupam Rasayan's interest coverage ratios and overall profitability in the upcoming fiscal year?
What specific existing debt facilities is the company prioritizing for repayment, and does this indicate a broader strategy to reduce leverage or optimize its capital structure?
Given the partial redemption schedule, what sources of liquidity will Anupam Rasayan rely on to meet the ₹99.5% principal repayment due in October 2026?
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