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Realty company DS Kulkarni Developers announced open on Monday public issue of secured redeemable non-convertible debentures (NCDs) aggregating up to Rs 100 crore with an option to retain over subscription of an equal amount aggregating up to Rs 200 crore.
It plans to use this money to finance projects under development and general corporate purposes, the company said.
The issue is for NCDs of a face value of Rs 5,000 each for Option I, II and IV and Rs 25,000 each for Option III.
The minimum application amount is Rs 25,000 across all options on NCDs and in multiples of one NCD after the minimum application.
Options of investment tenors are: Option I with tenure of 36 months and quarterly interest payment; Option II with tenure of 66 months and interest payment on maturity; Option III with tenure of 72 months and interest payable annually; Option IV with 84 months and interest payable annually.
The coupon rate is 12.5 per cent per annum for Option I, 12.65 for Option III, 12.75 for Option IV.
The lead manager for the issue is SBI Capital Markets Ltd.
The NCDs will be listed on the BSE.
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