Nuvoco Vistas Corporation’s board has approved the issuance of unsecured, unlisted, compulsorily convertible debentures (CCDs) by its subsidiary, Vadraj Cement Limited. The issuance, on a private placement basis to investors, is for up to ₹12,00,00,00,000. The CCDs are divided into Series A and Series B, each up to ₹6,00,00,00,000. Agreements for both series have been approved.
Vadraj Cement Debenture Issuance
The board of directors of Nuvoco Vistas Corporation has approved the issuance of unsecured, unlisted, compulsorily convertible debentures (CCDs) by its wholly-owned subsidiary, Vadraj Cement Limited.
Key Details of the CCDs
The CCDs will be issued on a private placement basis to proposed investors for an aggregate amount of up to ₹12,00,00,00,000. These CCDs will be divided into two separate tranches:
Series A CCDs: Up to ₹6,00,00,00,000
Series B CCDs: Up to ₹6,00,00,000
Agreements Approved
The approved execution includes the following:
Series A CCDs
A securities subscription and debenture trustee agreement involving Nuvoco Vistas, Vadraj, and Beacon Trusteeship Limited as the Debenture Trustee.
An option agreement between Nuvoco Vistas, Vadraj, Nirma Limited, and the Debenture Trustee.
Series B CCDs
A securities subscription and debenture trustee agreement involving Nuvoco Vistas, Vadraj, and the Debenture Trustee.
An option agreement between Nuvoco Vistas, Vadraj, Niyogi Enterprise Private Limited, and the Debenture Trustee.
The Board’s decision was made on October 17, 2025 following an initial intimation on September 15, 2025.
Source: BSE
