The Board of Directors of Nuvoco Vistas Corp has approved the execution of agreements related to the issuance of compulsorily convertible debentures by its wholly-owned subsidiary, Vadraj Cement Limited. The debentures will be issued on a private placement basis to investors for an aggregate amount of up to Rs. 12,00,00,00,000. The approval was granted on October 17, 2025.
Debenture Issuance Approval
The committee of the Board of Directors of Nuvoco Vistas Corp (the Company) has approved the execution of certain agreements related to the proposed issuance of unsecured unlisted compulsorily convertible debentures (CCDs). These CCDs will be issued by the company’s wholly-owned subsidiary, Vadraj Cement Limited (Vadraj).
Details of the Issuance
Vadraj intends to issue these CCDs on a private placement basis to certain proposed investors. The aggregate amount for the issuance is up to Rs. 12,00,00,00,000 (Rupees Twelve Hundred Crore). The CCDs will be divided into two separate tranches: Series A CCDs and Series B CCDs.
Tranche Details
Each series (Series A and Series B) shall comprise of compulsorily convertible debentures of up to Rs. 6,00,00,00,000 (Rupees Six Hundred Crore). The approval was granted at the meeting held on October 17, 2025.
Agreements Approved
The Board approved the execution of:
- In relation to Series A CCDs, a securities subscription and debenture trustee agreement to be executed between the Company, Vadraj and Beacon Trusteeship Limited (Debenture Trustee) and an option agreement to be executed between the Company, Vadraj, Nirma Limited and the Debenture Trustee, and any other ancillary documents; and
- In relation to Series B CCDs, a securities subscription and debenture trustee agreement to be executed between the Company, Vadraj and the Debenture Trustee and an option agreement to be executed between the Company, Vadraj, Niyogi Enterprise Private Limited and the Debenture Trustee, and any other ancillary documents.
Source: BSE
