Description

Part redemption of non-convertible debentures with reduced face value from Rs. 100,000 to Rs. 94,000 per debenture effective December 16, 2025.

Summary

SANDUR MANGANESE & IRON ORES LTD. has announced part redemption of its 11% Non-Convertible Debentures maturing on September 30, 2031 (ISIN: INE149K07013, Code: 976135). The record date for interest payment and part redemption is December 16, 2025. Following the redemption, the face value will be reduced from Rs. 100,000 to Rs. 94,000 per debenture, representing a 6% redemption. Trading with the reduced face value commences on December 16, 2025.

Key Points

  • Debenture: SMIOL-11%-30-9-31-PVT (ISIN: INE149K07013, Code: 976135)
  • Record Date: December 16, 2025
  • Purpose: Part redemption of debentures and payment of interest
  • Face Value Reduction: From Rs. 100,000 to Rs. 94,000 per debenture
  • Redemption Amount: Rs. 6,000 per debenture (6% of original face value)
  • Effective Date for Reduced Face Value: December 16, 2025
  • Settlement Number: DR-778/2025-2026
  • Interest Rate: 11% per annum
  • Maturity Date: September 30, 2031

Regulatory Changes

No regulatory changes introduced. This is a standard corporate action as per the terms of the debenture issuance.

Compliance Requirements

  • Trading members must note that trading in these debentures will be conducted with the reduced face value of Rs. 94,000 per debenture from December 16, 2025 onwards
  • All post-redemption transactions must reflect the new reduced face value
  • Debenture holders on the record date (December 16, 2025) will be eligible for the part redemption proceeds and interest payment

Important Dates

  • December 12, 2025: Circular issued by BSE
  • December 16, 2025: Record date for part redemption and interest payment
  • December 16, 2025: Trading commences with reduced face value (Settlement DR-778/2025-2026)
  • September 30, 2031: Final maturity date of debentures

Impact Assessment

For Debenture Holders:

  • Investors holding these debentures as of the record date will receive Rs. 6,000 per debenture as part redemption proceeds (6% of face value)
  • Interest payment will also be made on the record date
  • Post-redemption, the outstanding face value will be Rs. 94,000 per debenture
  • Future interest payments will be calculated on the reduced face value

For Market Participants:

  • Trading members and investors must account for the reduced face value in all transactions from December 16, 2025
  • Pricing and valuation models should be adjusted to reflect the new face value
  • Limited market impact as this affects only holders of this specific debt security

Financial Impact:

  • The company is returning 6% of the principal to debenture holders ahead of maturity
  • This reduces the company’s debt obligation and future interest burden
  • No impact on equity shareholders or other securities of the company

Impact Justification

Routine debt corporate action affecting specific debenture holders with part redemption reducing face value by 6%. Limited to debt security investors of this specific issuer.