Suvita Real Estates to Raise Rs.105 Crore via NCD
Real Estate

Suvita Real Estates to Raise Rs.105 Crore via NCD

Suvita Real Estates, part of the Shapoorji Pallonji Group, is set to raise ?105 crore through a non-convertible debentures (NCD) issue with a 15-month tenure. This move aims to repay the company's existing debt. The NCDs offer a substantial return, nearly two-and-a-half times higher than risk-free rates, classifying them as high-yield or junk bonds. The bonds feature step-up pricing, where investors receive 17.25% interest for the first 12 months and 20.25% between the 13th and 15th months. Additionally, Suvita Real Estates reserves the right to redeem these bonds after 12 months. In case of default, investors are entitled to a 24% return. The company previously missed payments to Blackrock Asia Pacific Credit Opportunities Fund last September, and the proceeds from this NCD issue will be directed towards settling that debt. The secured listed bonds will be open for subscription on February 9, closing on the same day. The Shapoorji Pallonji group did not comment on this matter.
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Suvita Real Estates, part of the Shapoorji Pallonji Group, is set to raise ?105 crore through a non-convertible debentures (NCD) issue with a 15-month tenure. This move aims to repay the company's existing debt. The NCDs offer a substantial return, nearly two-and-a-half times higher than risk-free rates, classifying them as high-yield or junk bonds. The bonds feature step-up pricing, where investors receive 17.25% interest for the first 12 months and 20.25% between the 13th and 15th months. Additionally, Suvita Real Estates reserves the right to redeem these bonds after 12 months. In case of default, investors are entitled to a 24% return. The company previously missed payments to Blackrock Asia Pacific Credit Opportunities Fund last September, and the proceeds from this NCD issue will be directed towards settling that debt. The secured listed bonds will be open for subscription on February 9, closing on the same day. The Shapoorji Pallonji group did not comment on this matter.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000