Docon Technologies Private Limited has announced a partial redemption of its Series 1 Non-Convertible Debentures (NCDs) issued by its holding company, API Holdings Limited. Following a repayment of INR 300 million, the face value per debenture has been reduced from INR 9,00,000 to INR 8,75,000. Consequently, the total outstanding principal amount for these debentures has decreased from INR 10,800 million to INR 10,500 million, with no changes to the number of encumbered shares.
Details of Debt Reduction
On April 16, 2026, API Holdings Limited successfully completed a partial redemption of its Series 1 Non-Convertible Debentures. This financial move involved a payment of INR 300 million, effectively lowering the principal amount across the series. As a result of this reduction, the face value per debenture has been adjusted to INR 8,75,000 from the previous INR 9,00,000.
Impact on Outstanding Principal
The total outstanding principal amount for the Series 1 NCDs now stands at INR 10,500 million, down from the earlier INR 10,800 million. Despite these changes in the debt structure, the encumbrance status of the shares held by Docon Technologies Private Limited in Thyrocare Technologies Limited remains unchanged, with 60.92% of the share capital pledged in favour of the debenture trustee.
Series 1 Debenture Overview
The Series 1 NCDs comprise 12,000 unlisted, unrated, and secured debentures. These instruments are backed by a corporate guarantee extended by Docon Technologies to secure the obligations of API Holdings Limited regarding credit facilities. The debentures are held by various institutional investors and funds, including 360 ONE Prime Limited and Micro Labs Limited, among others, ensuring a diverse base of debenture holders.
Source: BSE
