Embassy Developments allots ₹105 crore NCDs at 12.50% coupon
- Allotted 10,500 NCDs aggregating to ₹105 crore on September 22, 2026
- Coupon rate set at 12.50% per annum, payable semi-annually
- Maturity date is September 22, 2028, with prepayment options available
- Issued as part of an approved issue size of up to ₹160 crore
- Securities are unlisted and secured by charges on company assets
*this image is generated using AI for illustrative purposes only.
Embassy Developments Limited has allotted ₹105 crore worth of non-convertible debentures (NCDs) on a private placement basis. The allotment, completed on September 22, 2026, represents a significant portion of the company's approved debt raising capacity.
The Board’s constituted committee approved the issuance of 10,500 rated, unlisted, secured, redeemable, and taxable NCDs. Each debenture carries a face value of ₹1 lakh. This move is part of a broader strategy to secure funding through debt instruments rather than equity dilution.
Instrument Details and Terms
The NCDs were issued out of a total approved issue size of up to ₹160 crore. The securities are not proposed to be listed on any stock exchange. The company retains the option for partial or full prepayment prior to maturity, subject to transaction document terms.
| Parameter | Details |
|---|---|
| Total Allotment Amount | ₹105 crore |
| Number of Debentures | 10,500 |
| Face Value per NCD | ₹1,00,000 |
| Coupon Rate | 12.50% per annum |
| Coupon Payment Frequency | Semi-annually |
| Date of Allotment | September 22, 2026 |
| Date of Maturity | September 22, 2028 |
| Security Type | Secured by charge on identified assets |
Regulatory Compliance and Security
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The NCDs are secured by a charge on the identified assets of the company and/or its subsidiaries, as defined in the Debenture Trust Deed. There are no special rights or privileges attached to these instruments beyond standard security provisions.
What the Numbers Show
The allotment of ₹105 crore utilizes approximately 65.6% of the total approved issue size of ₹160 crore, leaving ₹55 crore in headroom for future debt raises under this specific approval. The 12.50% coupon rate indicates the cost of capital for this specific tranche, which is payable semi-annually. The two-year tenure suggests a medium-term funding requirement, aligning with typical project financing cycles in the real estate sector.
Historical Stock Returns for Embassy Developments
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.41% | +8.78% | -7.75% | +25.21% | -38.78% | -58.79% |
How will the ₹55 crore remaining headroom in the approved debt raising capacity be utilized, and what specific projects will it fund?
What impact does the 12.50% coupon rate have on Embassy Developments' overall interest coverage ratio and future profitability margins?
How might the unlisted nature of these NCDs affect the company's future liquidity management and ability to refinance this debt upon maturity?
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