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Varroc Engineering Ltd informed the stock exchange of the allocation of 3,750 rated, listed, guaranteed, redeemable and non-convertible debentures with a nominal value of Rs10 lakh each totaling Rs375cr on the basis of a private placement.

The company has informed that the Finance Committee of the Board of Directors of September 17, 2021 approved the allocation of:

  • 1,250 listed non-convertible collateralized debentures with a face value of Rs10 lakh each totaling Rs125cr.[“Option – I Debentures”]; and
  • 2,500 listed non-convertible collateralized debentures with a nominal value of Rs10 lakh each totaling Rs250cr [“Option – II Debentures”]; to investors identified by the Committee at its meeting on September 16, 2021.
The payment schedule is:

VEL Option I debentures: September 17, 2022 and June 17, 2023
VEL Option II debentures: September 17, 2022 and September 17, 2023

Date of grant : September 17, 2021 Redemption date: Option I debentures: June 17, 2023 Option II debentures: September 17, 2023.

At around 1:19 p.m., Varroc Engineering was trading at Rs 304.40 per coin, up Rs 1.55 or 0.51% on Sensex.

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