Share India Securities plunges ~2% as Audit Committee approves issue of MLDs worth Rs150 crore

26 Jul 2022 , 02:15 PM

Share India Securities Limited informed that the Audit Committee of the Company has vide its resolution dated July 25, 2022, approved the issue of 1500 listed, secured, redeemable, principal-protected Market Linked Non-Convertible Debentures (MLDs) of the face value of Rs10,00,000.

The issue aggregates to Rs150 crore on a private placement basis including a green shoe option of Rs50 lakh.

The maturity period will be 547 days (18 months) from the allotment date.

Company stated that if the Redemption Premium and/or Principal are not paid on the Maturity Date, an additional interest rate of 2% per year is added to the Coupon Value.

The instruments will create a Pari-Passu charge over the Book Debts of the wholly owned subsidiary of the Company, i.e Share India Fincap Private Limited.

At around 2.19 PM, Share India Securities was trading at Rs1182.10, down by 1.62% against previous close of Rs1,201.55 on NSE. It touched intraday high and low of Rs1,219.55 and Rs1,181.50 respectively.