Capri Global Capital Limited announced the approval for a public issuance of Non-Convertible Debentures (NCDs) up to an aggregate amount of ₹5,000 million, inclusive of an oversubscription option. This Tranche I Issue, detailed in the Shelf Prospectus, has a Base Issue Size of ₹1,000 million with a Green Shoe Option of up to ₹4,000 million. The NCDs, which are secured and rated, are planned to open for subscription on April 15, 2026.
Approval for Capital Raise via NCDs
Capri Global Capital Limited has formally approved the undertaking of a public issuance of Non-Convertible Debentures (NCDs) with a face value of ₹1,000/- each. This issuance is part of a larger Shelf Limit approved by the Board, capped at ₹20,000 million. The approval for the initial tranche, referred to as the Tranche I Issue, was granted by the Management Committee via a Circular Resolution dated March 30, 2026.
Tranche I Issue Details
The Tranche I Issue structure includes a Base Issue Size of ₹1,000 million, coupled with an option to retain oversubscription, termed the “Green Shoe Option,” up to an additional ₹4,000 million. The aggregate size of the Tranche I Issue is thus ₹5,000 million, remaining well within the overall Shelf Limit.
The NCDs are designated as secured, rated, listed, and redeemable instruments. The timeline for the Tranche I Issue is set as follows:
- Opening Date: Wednesday, April 15, 2026
- Closing Date: Tuesday, April 28, 2026*
The Company has appointed BSE Limited as the designated stock exchange for listing purposes.
Security and Redemption Structure
The NCDs are Secured obligations. Security is established via a first pari-passu charge by way of hypothecation created on standard receivables, including the loan book, unencumbered cash, and bank balances. The Company commits to maintaining a security cover of at least 1.10 times the entire secured obligations.
The document also details specific coupon rates and tenors across six different series (I through VI), with tenors ranging from 24 months up to 120 months. Coupon rates vary, with Category I, II, III & IV NCD holders seeing potential annual returns between 8.80% and 9.30% before considering the Effective Yield.
Investor Protection Measures
In cases of default, the Company has stipulated penalty interest payments. Specifically, the Company shall pay at least 2% per annum over the agreed coupon rate to the debenture holder if it fails to execute the Debenture Trust Deed within the prescribed timeframe.
It is noted that there are no Put and Call Options available for these instruments.
Source: BSE
