Lodha Developers has announced the allotment of 50,000 rated, listed, senior, secured, redeemable, taxable, transferable, non-convertible debentures, each with a face value of ₹1,00,000, aggregating to ₹500 crore. This allotment was approved by the Executive Committee of the Board of Directors on September 30, 2025, and the debentures are placed on a private placement basis. The details, pursuant to the SEBI Master Circular, are enclosed in Annexure I.
Debenture Allotment Details
The Executive Committee of the Board of Directors of Lodha Developers approved the allotment of 50,000 rated, listed, senior, secured, redeemable, taxable, transferable, non-convertible debentures. The face value of each debenture is ₹1,00,000, bringing the total aggregate amount to ₹500 Crore. This allotment occurred on September 30, 2025.
Key Features of the Debentures
The debentures have several key features:
- Issue Size: ₹500 Crore, comprising 50,000 debentures.
- Listing: To be listed on the Wholesale Debt Market segment of BSE Limited.
- Allotment Date: September 30, 2025
- Maturity Date: September 29, 2030
- Interest Rate: 8.10% p.a., payable quarterly, starting December 31, 2025.
- Security: First ranking charge created over certain assets.
Interest and Redemption
The interest rate is set at 8.10% per annum, payable quarterly. The first interest payment will be made on December 31, 2025, and the last payment will coincide with the Final Maturity Date. The NCDs will be redeemed as per the terms outlined in the Debenture Trust Deed.
Default Provisions
In the event of a delay in interest or principal payment for more than 3 months, a default interest rate of 2% per annum above the applicable interest rate will be levied on the outstanding amount.
Source: BSE