Mumbai, June 9 -- The company will issue senior, secured, rated, listed, redeemable and transferable NCDs with a face value of Rs 1 lakh each for cash at par. The fundraising amount will be equivalent to up to $15 million in Indian rupee terms.

The debentures will have a tenure of five years. Interest will be paid semi-annually at the end of each coupon period, while the principal amount will be redeemed in five equal instalments over the tenure of the instrument. The proposed NCDs are slated to be listed on the Wholesale Debt Market segment of the BSE.

Under the terms of the issue, any delay in payment of principal or interest will attract 2% per annum over and above the applicable coupon rate on the outstanding amount until the defaul...