According to the company, the issuance has been done on a Private Placement basis. The issuance and allotment will be listed on the Wholesale Debt Market (WDM) Segment of the BSE limited, informed the company.
The tenure of the instrument will be 4 years from the date of allotment, November 3, 2020. The instruments will mature on November 3, 2020. The interest shall be payable semi-annually from the date of allotment till the next interest reset date, at a rate of 6.83% per annum.
The alloted debentures will be redeemed at par in four equal instalments at the end of 15th, 27th, 36th and 48th months from the deemed date of Allotment, Trident Limited added.
Trident Ltd was trading at Rs7.66per piece down by Rs0.09 or 1.16% from its previous closing of Rs7.75 on the BSE, at around 10:15am.