Nuvoco Vistas Corporation Limited’s wholly owned subsidiary, Vadraj Cement Limited, has approved the allotment of 30,000 Series B Compulsorily Convertible Debentures (CCDs). These unlisted instruments aggregate to ₹300,00,00,000 (INR 300 Crore) and were issued via private placement to four investors. Each CCD has a face value of INR 1,00,000 and will convert into 2,604 equity shares of Vadraj Cement.
Issuance of Series B CCDs by Vadraj Cement
Nuvoco Vistas Corporation Limited announces, pursuant to the disclosure requirements, that its wholly owned subsidiary, Vadraj Cement Limited (Vadraj), has completed the allotment of Series B Compulsorily Convertible Debentures (CCDs). This transaction was executed via preferential issue on a private placement basis.
Key Terms of the Allotment
The total issuance comprises 30,000 unsecured, unlisted, compulsorily convertible debentures (Series B CCDs). The aggregate face value of this issuance is INR 300,00,00,000 (Three Hundred Crore Rupees).
- Security Type: Unlisted Compulsorily Convertible Debentures (CCDs).
- Total Amount: INR 300 Crore, split across 30,000 CCDs.
- Issue Price: The CCDs were issued and allotted at their face value of INR 1,00,000 per CCD.
Conversion Details
Each CCD holds the right to be converted into 2,604 fully paid-up equity shares of Vadraj, with each resulting equity share having a face value of INR 10.
The CCDs are structured for mandatory automatic conversion into equity shares upon the earlier of two events:
- The date immediately prior to the filing of a red herring prospectus by the Company for an initial public offering.
- The date falling on expiry of seven (7) years from the date of allotment.
Additionally, Investors retain the option for conversion prior to the mandatory date upon the occurrence of certain specified events detailed in the governing agreement.
Investor Details
The allotment involved four investors in total. The 30,000 CCDs were categorized into three series:
| S. No. | Name of Investor | Series Allotted |
|---|---|---|
| 1. | Alpha Alternatives Financial Services Private Limited – Third Edge Advisors LLP | B1 (10,000 CCDs) |
| 2. | Trust Investment Advisors Private Limited – Ncube Ventures LLP | B2 (10,000 CCDs) |
| 3. | Trust Investment Advisors Private Limited | B3 (10,000 CCDs) |
The issuance was made in furtherance of the intimation previously shared under Reference No. Sec/240/2025-26.
Source: BSE
