Vikran Engineering Limited has successfully completed the allotment of secured, rated, unlisted, redeemable non-convertible debentures (NCDs) worth ₹50 crores on 29th April 2026. The company announced the completion of this debt instrument issuance under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Debenture Structure and Terms

The NCDs were issued through private placement in dematerialised form, denominated in Indian Rupees with each debenture having a face value of ₹50 lakh. The issuance was structured across two tranches to optimize the fundraising process.

Financial Terms and Interest Structure

The debentures offer attractive financial terms with a fixed coupon rate and regular interest payments. The company has structured the instruments to provide consistent returns to investors over the tenure.

Regulatory Compliance and Authorization

The debenture allotment was executed following proper corporate governance procedures. The Board of Directors had initially authorized the issuance on 19th October 2024, delegating powers to the Corporate Affairs Committee to finalize terms and effect allotment. Subsequently, the Corporate Affairs Committee passed a resolution on 20th April 2026 exercising the delegated authority to complete the allotment process.

The company has made the required disclosures under Schedule III of the SEBI LODR Regulations in compliance with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The debentures are not proposed to be listed on any stock exchange and will remain as unlisted instruments.

Key Features and Redemption

The NCDs carry several important characteristics that define their investment profile. The debentures are secured instruments with charges created over company assets, ensuring protection for investors. Principal repayment is scheduled on maturity dates as per debenture trust deed terms.

The successful completion of this ₹50 crore NCD allotment represents a significant fundraising milestone for Vikran Engineering Limited, providing the company with secured debt capital for its business operations and growth initiatives. The formal disclosure was signed by Company Secretary and Compliance Officer Kajal Rakholiya from Thane on 30th April 2026.

Vikran Engineering Limited has announced the execution of a Share Purchase Agreement to acquire a 49% equity stake in NOPL Solar Projects Private Limited for ₹4.9 crore on April 28, 2026, marking a significant strategic expansion into India's renewable energy sector.

Regulatory Compliance and Transaction Details

The acquisition was announced pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction involves purchasing a substantial minority stake in NOPL Solar Projects, which is engaged in the development, operation, and maintenance of solar power projects.

PM-KUSUM Scheme Integration

NOPL Solar Projects Private Limited is associated with a 969 MW (AC) grid-connected solar power project under Component C of the PM-KUSUM Scheme in Maharashtra. This association positions Vikran Engineering to participate in one of India's flagship solar energy initiatives, enhancing the strategic value of the acquisition.

Management Commentary

Commenting on the development, Mr. Rakesh Markhedkar, CMD of Vikran Engineering Limited, stated that the acquisition reflects the company's intent to deepen its presence in sectors defining India's next phase of infrastructure growth. He emphasized that renewable energy continues to emerge as one of the most compelling long-term opportunities within India's infrastructure landscape.

Strategic Business Expansion

This investment aligns with Vikran Engineering's long-term vision of diversifying beyond its core engineering operations into high-growth, future-focused sectors. The acquisition builds on the company's growing momentum in the renewable energy segment, following successful execution of solar power projects during the current financial year. Through this partnership, the company aims to enhance its participation across the renewable energy value chain and strengthen its capabilities in delivering next-generation infrastructure solutions.