Aditya Birla Capital allots ₹2,335 crore NCDs on private placement
- Aditya Birla Capital allotted ₹2,335 crore NCDs via private placement on September 9, 2026
- Issuance includes four tranches: two coupon-bearing (8.10%, 7.98%) and two zero-coupon bonds
- Largest tranche of ₹1,110 crore carries 8.10% coupon and matures in September 2029
- Zero-coupon tranches total ₹900 crore with maturities in May 2029 and June 2031
- All instruments are secured by first pari passu charge over company assets
*this image is generated using AI for illustrative purposes only.
Aditya Birla Capital Limited allotted ₹2,335 crore worth of secured non-convertible debentures (NCDs) on a private placement basis on September 9, 2026. The issuance targets multiple investors to raise capital for corporate purposes across four distinct tranches.
The company issued a total of 233,500 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 comprise a mix of coupon-bearing and zero-coupon instruments. Three tranches carry fixed annual coupon rates, while one tranche is structured as a zero-coupon bond.
| Particular | Details |
|---|---|
| Issuer | Aditya Birla Capital Limited |
| Instrument Type | Secured, Rated, Listed, Taxable, Redeemable NCDs |
| Total Allotted Size | ₹2,335 crore |
| Number of Debentures | 233,500 |
| Date of Allotment | September 9, 2026 |
| Security | First pari passu charge over receivables, securities, future moveable assets, and current assets |
Tranche Details
The issuance consists of four separate tranches with varying sizes, tenors, and maturity profiles.
| Tranche | Size (₹ crore) | Debentures | Coupon Rate | Tenor (Days) | Maturity Date |
|---|---|---|---|---|---|
| 1 | ₹1,110 | 111,000 | 8.10% p.a. | 1,824 (Original) | September 7, 2029 |
| 2 | ₹325 | 32,500 | 7.98% p.a. | 1,826 (Original) | August 13, 2031 |
| 3 | ₹450 | 45,000 | Zero Coupon | 1,366 (Original) | May 30, 2029 |
| 4 | ₹450 | 45,000 | Zero Coupon | 1,822 (Original) | June 25, 2031 |
Cash Flow Structure
Investors in the coupon-bearing tranches receive periodic interest payments and principal repayment at maturity. The zero-coupon tranches provide returns through the discount between issue price and redemption value.
Coupon-Bearing Tranches
Tranche 1 (₹1,110 crore):
- Principal Inflow: ₹100,033.10 per debenture on September 9, 2026
- Coupons: ₹8,100 annually for two years; ₹8,056 in the final year
- Redemption: ₹1,00,000 per debenture on September 7, 2029
Tranche 2 (₹325 crore):
- Principal Inflow: ₹99,685.90 per debenture on September 9, 2026
- Coupons: ₹7,980 annually for five years
- Redemption: ₹1,00,000 per debenture on August 13, 2031
Zero-Coupon Tranches
Tranche 3 (₹450 crore):
- Principal Inflow: ₹105,346.50 per debenture on September 9, 2026
- Redemption: ₹1,30,172.25 per debenture on May 30, 2029
Tranche 4 (₹450 crore):
- Principal Inflow: ₹100,819.30 per debenture on September 9, 2026
- Redemption: ₹1,47,111.57 per debenture on June 25, 2031
What the Numbers Show
The company has diversified its debt issuance strategy by combining shorter-term coupon instruments with longer-term zero-coupon bonds. The largest tranche (₹1,110 crore) matures in under three years, providing near-term liquidity management, while the zero-coupon tranches extend liabilities to 2029 and 2031 without interim cash outflows for interest. This structure balances immediate funding needs with long-term capital raising.
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 |
|---|---|---|---|---|---|
| +1.37% | +6.24% | -2.55% | +29.30% | +39.67% | +266.03% |
How will the ₹2,335 crore debt issuance impact Aditya Birla Capital's leverage ratios and credit rating outlook in the coming fiscal years?
What specific corporate initiatives or expansion plans is the company prioritizing with this capital raise, given the 'corporate purposes' designation?
How does the mix of zero-coupon bonds in Tranches 3 and 4 affect the company's future cash flow obligations compared to traditional coupon-bearing debt?
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