Salem Erode Investments Limited has approved the issuance of Secured Redeemable Non-Convertible Debentures (NCDs) aggregating Rs 4,00,00,000 on a private placement basis. The Board of Directors sanctioned the issue of 40,000 unlisted secured NCDs with a face value of Rs 1,000 each at par during a meeting held on July 23, 2026. This capital raise aims to meet the company's financial requirements through debt instruments secured against its assets.

The debentures will be offered in two distinct tenure options: 36 months and 68 months. The 36-month tenure includes a Monthly Scheme with a coupon rate of 12.00%, payable on the first day of every month, and a Cumulative Scheme where payment is made at maturity. The 68-month option is a Cumulative Scheme designed to double the investment, with payment also due at maturity. A put option is available for the 36-month schemes, allowing holders to exit early under specific terms.

Key Details of the NCD Issue

The proposed issue is fully secured against current assets, loans, advances, and standard gold loan receivables, among other unencumbered assets, excluding fixed assets. The security cover will be at least 100% of the outstanding balance and accrued interest. A charge will be created in favour of Vistra ITCL (India) Limited, acting as the Debenture Trustee. Allotment is scheduled to be completed within 30 days from the date of receipt of application money.

Disclosures regarding the issuance were made in accordance with the master circular issued by the Securities and Exchange Board of India. Salem Erode Investments Limited operates as a subsidiary of ICL Fincorp Ltd. The meeting, which commenced at 03:00 P.M. and concluded at 04:15 P.M. on July 23, 2026, was held to finalize these funding proposals.

Salem Erode Investments has allotted 9,200 unlisted secured redeemable non-convertible debentures on a private placement basis for an aggregate amount of ₹92,00,000. The Debenture and Bond Committee of the Board of Directors approved the allotment on July 01, 2026. Each debenture carries a face value of ₹1,000.

Allotment Details

The committee's decision was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The allotment was finalized during the meeting held on July 01, 2026.