Lodha Developers Limited has successfully approved the private placement allotment of 50,000 Secured Non-Convertible Debentures (NCDs), aggregating to a total of ₹500 crore, on March 30, 2026. These listed debt instruments carry an annual interest rate of 8.52%, payable semi-annually, and are set to mature on March 31, 2036. The instruments are senior, secured, and redeemable, with a first-ranking charge created over specified company assets.
Debt Issuance Approved by Board Committee
Lodha Developers Limited (formerly Macrotech Developers Limited) announced the formal approval for the allotment of debt instruments following a decision by the Executive Committee of the Board of Directors. The allotment took place on March 30, 2026.
Details of the Secured NCDs
The issuance involves 50,000 Rated, Listed, Senior, Secured, Redeemable, Taxable, Transferable, Non-Convertible Debentures (NCDs). The total aggregate value of the issue is ₹500 crore, with each debenture having a face value of ₹1,00,000. The instruments were allotted on a private placement basis.
Key Terms and Conditions
- Listing Segment: The NCDs are intended to be listed on the Wholesale Debt Market segment of the National Stock Exchange of India Limited.
- Tenure and Maturity: The instruments have a maturity date of March 31, 2036, following the allotment date of March 30, 2026.
- Interest Rate: The coupon or interest rate offered is 8.52% per annum, payable half-yearly.
- Payment Schedule: The first interest payment is scheduled for September 30, 2026, with subsequent payments aligning with the Final Maturity Date.
- Security and Ranking: A First ranking charge will be created over specific assets of the Company, as detailed in the Key Information Document dated March 24, 2026.
- Default Interest: In case of delay in payment of interest or principal beyond 3 months from the due date, a Default Interest will accrue at 2% per annum over and above the applicable rate.
- Redemption: Redemption of the NCDs will follow the terms outlined in the Debenture Trust Deed executed between the issuer and the Debenture Trustee.
Regulatory Compliance
The company confirmed that this disclosure is made pursuant to the relevant requirements under the applicable Listing Regulations. Details pertaining to the allotment, in line with the SEBI Master Circular dated November 11, 2024, are provided in the enclosed Annexure I.
Source: BSE
