Vadraj Cement Limited, a wholly-owned subsidiary of Nuvoco Vistas Corporation Limited, has approved the allotment of 60,000 unsecured, unlisted, compulsorily convertible debentures (CCDs) aggregating to ₹600 crores. These Series A CCDs have a face value of ₹1,00,000 each and are being issued to certain investors via a preferential issue on a private placement basis. The terms are outlined in a Securities Subscription and Debenture Trustee Agreement.
Debenture Allotment Overview
On November 14, 2025, Nuvoco Vistas Corporation Limited announced that its wholly-owned subsidiary, Vadraj Cement Limited, has approved the allotment of unsecured, unlisted, compulsorily convertible debentures (CCDs).
Key Details of the Issuance
A total of 60,000 Series A CCDs have been allotted, with each debenture having a face value of ₹1,00,000. The total value of the issuance amounts to ₹600 crores. These CCDs have been issued to select investors through a private placement preferential issue.
Conversion Terms
Each CCD is convertible into 1,967 fully paid-up equity shares of Vadraj, each having a face value of ₹10. There are a total of 3 investors involved in this allotment. The CCDs will automatically and mandatorily convert into equity shares upon the earlier of (a) the date immediately prior to the filing of a red herring prospectus by the Company for an initial public offering; or (b) on expiry of 7 (seven) years from the date of allotment of the CCDs.
Investor Allocation
- TRUST Investment Advisors Private Limited: 27,500 CCDs
- Sankhya Financial Services Private Limited: 17,500 CCDs
- Alpha Alternatives Financial Services Private Limited: 15,000 CCDs
Source: BSE