Description

BSE announces the listing of three series of secured, rated, redeemable non-convertible debentures issued by Prachay Capital Limited with tenures ranging from 13 months to 5 years.

Summary

BSE has listed three series of secured, rated, redeemable non-convertible debentures (NCDs) issued by Prachay Capital Limited (formerly Prachay Capital Private Limited). The NCDs have face values of Rs. 1,000 each with monthly interest payment frequency and varying tenures. All three series are rated CRISIL BBB-/Stable and include a call option exercisable after one year from allotment.

Key Points

  • Issuer: Prachay Capital Limited (formerly Prachay Capital Private Limited)
  • Security Type: Listed, Rated, Secured, Redeemable Non-Convertible Debentures
  • Face Value: Rs. 1,000 per NCD
  • Issue Price: Rs. 1,000 per NCD
  • Credit Rating: CRISIL BBB-/Stable by CRISIL Ratings Limited
  • Market Lot: One NCD
  • Interest Payment: Monthly frequency for all series
  • Date of Allotment: December 29, 2025

Series Details

Series I (Scrip Code: 940837, ISIN: INE0IID07744)

  • Number of Securities: 287,010
  • Coupon Rate: 12.50% per annum
  • Effective Yield: 13.24% per annum
  • Redemption Amount: Rs. 1,000 per NCD
  • Maturity Date: December 29, 2028 (3 years)
  • First Interest Payment: January 31, 2026

Series II (Scrip Code: 940839, ISIN: INE0IID07751)

  • Number of Securities: 8,739
  • Coupon Rate: 12.75% per annum
  • Effective Yield: 13.52% per annum
  • Redemption Amount: Rs. 1,000 per NCD
  • Maturity Date: December 29, 2029 (4 years)
  • First Interest Payment: January 31, 2026

Series III (Scrip Code: 940841, ISIN: INE0IID07769)

  • Number of Securities: 604,578
  • Coupon Rate: 13.00% per annum
  • Effective Yield: 13.80% per annum
  • Redemption Amount: Rs. 1,000 per NCD
  • Maturity Date: December 29, 2030 (5 years)
  • First Interest Payment: January 31, 2026

Call Option Provisions

  • The issuer has the right (but no obligation) to recall or redeem outstanding debentures fully or partially after 1 year from the deemed date of allotment
  • Call option can be exercised at any time prior to the scheduled redemption date
  • In case of partial redemption, NCDs will be recalled on a proportionate basis only
  • The call option is exercisable separately for each series (at each ISIN level)

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

No specific compliance requirements beyond standard listed debt securities regulations.

Important Dates

  • Allotment Date: December 29, 2025
  • First Interest Payment Date: January 31, 2026 (all series)
  • Call Option Available From: December 29, 2026 (1 year after allotment)
  • Series I Maturity: December 29, 2028
  • Series II Maturity: December 29, 2029
  • Series III Maturity: December 29, 2030

Impact Assessment

This is a routine listing announcement for debt securities with minimal market impact. The listing provides debt market investors with additional fixed-income investment options from Prachay Capital Limited. The BBB- credit rating indicates moderate credit quality with adequate protection parameters. The monthly interest payment structure and varying tenures offer flexibility for different investor preferences. Total issuance across three series amounts to 900,327 NCDs representing Rs. 90.03 crore in principal value.

Impact Justification

Routine listing of debt securities for a single company with no broader market implications