NewsSandur Manganese & Iron Ores Receives BSE Approval for NCD Delisting Following Early RedemptionSandur Manganese & Iron Ores Receives BSE Approval for NCD Delisting Following Early Redemption
The Sandur Manganese & Iron Ores Limited has received BSE approval for delisting 45,000 Non-Convertible Debentures worth ₹94,000/- each, effective from 24 March 2026. The 11% secured NCDs bearing ISIN 'INE149K07013' were delisted following early redemption completion. The approval was granted through BSE Notice No.20260323-21 dated 23 March 2026, demonstrating the company's proactive debt management approach.
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Sandur manganese & iron ores Limited has successfully obtained approval from BSE Limited for the delisting of its Non-Convertible Debentures (NCDs), marking the completion of a corporate restructuring initiative. The approval, effective from 24 March 2026, follows the company's earlier completion of early redemption of these debt securities.
Delisting Details and Specifications
The delisting approval covers a substantial portfolio of debt instruments with specific characteristics and valuation. The company had previously completed the early redemption process, leading to this formal delisting approval from the stock exchange.
| Parameter: | Details |
|---|---|
| Number of NCDs: | 45,000 units |
| Face Value: | ₹94,000/- each |
| Interest Rate: | 11% |
| ISIN: | INE149K07013 |
| Effective Date: | 24 March 2026 |
| BSE Notice: | No.20260323-21 dated 23 March 2026 |
NCD Characteristics
The delisted Non-Convertible Debentures carried several key features that made them attractive debt instruments during their listing period. These securities were structured as comprehensive debt offerings with multiple investor-friendly characteristics.
Key features of the delisted NCDs include:
- Security Status: Fully secured debt instruments
- Currency: Rupee denominated securities
- Transferability: Transferable instruments allowing secondary market trading
- Interest Bearing: Fixed interest rate structure at 11%
- Redeemable: Structured for redemption at maturity
Regulatory Compliance and Communication
The company has maintained full regulatory compliance throughout the delisting process, ensuring proper communication with all stakeholders. The announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The delisting approval represents the culmination of the early redemption process that was initiated and completed prior to the original maturity date of the NCDs. This proactive approach demonstrates the company's commitment to efficient debt management and stakeholder value optimization.
Corporate Structure and Operations
Sandur Manganese & Iron Ores Limited operates as an ISO certified company, holding certifications for ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018. The company maintains its registered office in Sandur, Ballari District, Karnataka, with corporate operations based in Bengaluru.
The successful completion of the NCD delisting process reflects the company's systematic approach to corporate finance management and regulatory compliance in the Indian capital markets.
What are Sandur Manganese's plans for future debt financing after completing this NCD delisting?
How might the early redemption of ₹4.23 billion in debt impact the company's capital structure and financial flexibility?
Will Sandur Manganese consider issuing new debt instruments or equity to fund expansion in the iron ore and manganese mining sector?
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