Samvardhana Motherson International Limited has announced the record date for the payment of interest on its 6.50% Compulsorily Convertible Debentures (CCDs). The record date has been fixed as September 11, 2026, for the annual interest payment due on September 30, 2026. This aligns with the terms outlined in the placement document for the CCDs, ensuring timely distribution to eligible debenture holders.
Interest Payment Record Date Declared
Samvardhana Motherson International Limited has formally announced the record date for the upcoming interest payment pertaining to its listed 6.50% Unsecured, Unrated Listed Compulsorily Convertible Debentures. The designated record date is September 11, 2026. This date is crucial for identifying the debenture holders eligible to receive the interest payment.
Details of the Interest Payment
The interest payment is scheduled for September 30, 2026, which marks the second annual installment as per the CCDs’ terms. The face value of each CCD is ₹100,000, and the annual interest rate is set at 6.50%. These debentures were initially allotted to eligible qualified institutional buyers on September 20, 2024. The interest amount will be paid to debenture holders whose names appear in the beneficiary position statement provided by the Depositories as of the aforementioned record date.
About the Compulsorily Convertible Debentures
These Compulsorily Convertible Debentures (CCDs) have a face value of ₹100,000 each, and the interest rate is 6.50% per annum. The interest accrues from the date of allotment until the Conversion Date and is payable annually. The terms also allow for coupon deferability and are non-cumulative. The next installment of interest is due on September 20, 2027, which is also the maturity date for the third year installment.
Source: BSE
