Reportedly, Oriana Power Limited’s board of directors has approved the issuance and allotment of non-convertible debentures (NCDs) worth Rs 750 million.
The company will issue 7,500 debentures under the offering, each with a face value of Rs 100,000. The debentures will be issued on a private placement basis to select investors and will be unlisted. The instruments are rated, senior, secured, redeemable and transferable in nature, with a fixed coupon rate of 11.65 per cent per annum. Interest payments will be made on a monthly basis. The NCD will have a tenure of up to 48 months from the deemed date of allotment, with the maturity date to be finalised based on the actual allotment and confirmed tenure.