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The principal amount of the NCDs to be issued together with all interest due and payable on the NCDs, thereof shall be secured by a pari passu charge over the Trade Receivables and MTF of the Company, created in favour of the Debenture Trustee, in terms of and as specifically set out in and fully described in the Debenture Trust Deed, such that a security cover to the extent of at least 110% of the outstanding principal amounts of NCDs and all interest due and payable thereon in respect of the NCDs maintained at all times as security until the Final Settlement Date, issued pursuant to the Issue. The NCDs proposed to be issued shall rank pari passu without preference of one over the other except that priority for payment shall be as per applicable date of redemption / repayment. The Company shall execute Debenture Trust Deed and Deed of Hypothecation prior to listing of the Debentures and perfect the same by filing requisite forms with ROC within 30 days of creation of charge in favour of Debenture Trustee. The Company hereby undertakes that the assets on which the charge or security has been created to meet the hundred and ten percent security cover or higher security cover is free from any encumbrances and in case the assets are encumbered, the permissions or consent to create any further charge on the assets has been obtained from the existing creditors to whom the assets are charged, prior to creation of the charge. |
| Issue Details |
| Issue Open |
19-Jul-2024-01-Aug-2024 |
| Security Name |
SMC GLOBAL SECURITIES LIMITED |
| Security Type |
Secured Redeemable Non-Convertible Debentures |
| Issue Size (Base) .Cr |
75 |
| Over subscription |
An Option To Retain Oversubscription Up To Rs. 75 Crores Aggregating To Rs. 150 Crores. |
| Issue Price |
1000 |
| Face Value |
1000 |
| Market Lot |
1 |
| Credit Rating |
"CRISIL A/Stable" by CRISIL and "[ICRA] (A Stable)" by ICRA. |
| Tenor |
24 months,36 months,60 Months |
| Series |
Series1,Series2,Series3,Series4,Series5,Series6 |
| Payment Frequency |
Yearly,At the End,Monthly |
| Objects of the Issue: |
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PUBLIC ISSUE BY OUR COMPANY OF SECURED, RATED, LISTED, REDEEMABLE, NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF Rs.1000 EACH ("NCDS") FOR AN AMOUNT UP TO Rs.75 CRORE ("BASE ISSUE SIZE") WITH AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO Rs.75 CRORE ("GREEN SHOE OPTION"), AGGREGATING UP TO 1500000 NCDs FOR AN AGGREGATE AMOUNT OF UP TO Rs. 150 CRORE ("ISSUE SIZE" OR "ISSUE LIMIT"). |
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| Company Promoters |
| Subhash Chand Aggarwal |
| Mahesh C Gupta |
| Sushma Gupta |
| Damodar Krishan Aggarwal |
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| Lead Managers |
| 1. Corporate Professionals Capital Private Limited |
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| Registrar to the Issue |
| 1. LINK INTIME INDIA PRIVATE LIMITED |
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