Aditya Birla Capital allots ₹300 crore zero-coupon NCDs on private placement
- Aditya Birla Capital allotted ₹300 crore in secured, rated NCDs via private placement
- The zero-coupon instruments mature on June 25, 2031, with a tenor of 1,822 days
- Security is created via a first pari passu charge over specific company assets
- The issue size included a green shoe option up to ₹200 crore, though only ₹300 crore was allotted
*this image is generated using AI for illustrative purposes only.
Aditya Birla Capital Limited allotted ₹300 crore worth of secured non-convertible debentures (NCDs) on a private placement basis on September 2, 2026. The issuance targets multiple investors to raise capital for corporate purposes.
The company issued 30,000 debentures, each with a face value of ₹1,00,000. The instruments are rated, listed, taxable, and redeemable. They will be listed on both the Bombay Stock Exchange and the National Stock Exchange of India.
Terms of Issue
The NCDs are structured as zero-coupon instruments, meaning no periodic interest payments will be made. Instead, the return is embedded in the discount between the issue price and the redemption value.
| Particular | Details |
|---|---|
| Issuer | Aditya Birla Capital Limited |
| Instrument Type | Secured, Rated, Listed, Taxable, Redeemable NCDs |
| Issue Size | ₹300 crore (Green shoe option up to ₹200 crore) |
| Allotted Size | ₹300 crore |
| Number of Debentures | 30,000 |
| Coupon Rate | Zero Coupon |
| Tenor | 1,822 days (Original Issuance) |
| Date of Allotment | September 2, 2026 |
| Maturity Date | June 25, 2031 |
| Security | First pari passu charge over receivables, securities, future moveable assets, and current assets |
Cash Flow Structure
Investors receive principal inflow at issuance and principal outflow at maturity. The illustrative cash flow per debenture reflects this structure.
| Cash Flow Event | Date | Amount (₹) |
|---|---|---|
| Principal Inflow | September 2, 2026 | 101,116.00 |
| Principal Outflow (Redemption) | June 25, 2031 | 147,111.57 |
What the Numbers Show
The difference between the principal inflow of ₹101,116 per debenture and the redemption amount of ₹147,111.57 represents the total interest cost for the investor over the tenor. This structure implies a single lump-sum payment at maturity rather than periodic coupon income, aligning with the zero-coupon classification.
Regulatory Compliance
The allotment was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the master circular SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. Santosh Haldankar, Company Secretary and Compliance Officer, signed the disclosure.
Historical Stock Returns for Aditya Birla Capital
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.66% | -3.36% | -1.79% | +15.27% | +41.78% | +268.83% |
How will the ₹300 crore debt issuance impact Aditya Birla Capital's leverage ratios and credit rating outlook over the next 12 months?
What specific corporate initiatives or expansion projects is the company prioritizing with this raised capital given the 'corporate purposes' designation?
Given the zero-coupon structure, how does the implied yield of this NCD compare to current market rates for similar-rated financial sector debt instruments?
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