CREST VENTURES LIMITED — Capital/Financing Update 2023

Mar 17, 2023

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Ref: CVL/SE/2022-23

Ref: CVL/SE/2022-23	March 17, 2023
To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001.	To, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra(East), Mumbai - 400 051.
Scrip Code: 511413 ISIN: INE559D01011	Symbol: CREST Series: EQ

Dear Sir / Madam,

Sub: Outcome of Debenture Fund Raising Committee Meeting held on March 17, 2023

In furtherance to our letter dated February 27, 2023 and March 2, 2023 and pursuant to the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“ Listing Regulations ”) read together with Para A of Part A of Schedule III of the Listing Regulations, we hereby inform that at the meeting of Debenture Fund Raising Committee held today i.e., March 17, 2023, the Committee has inter alia approved the allotment of 9,090 12% Rated, Listed, Unsecured, Senior, Transferable, Redeemable, Non-Convertible Debentures each of face value ₹1,00,000/- (Rupees One Lakh only) on a private placement basis.

Further, disclosure under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed as Annexure A .

The meeting commenced at 10.20 a.m. and concluded at 10.40 a.m.

Kindly take the same on your records.

Thanking you.

Yours faithfully , For Crest Ventures Limited

Digitally signed NAMITA by NAMITA BAPNA BAPNA Date: 2023.03.17 10:43:24 +05'30'

Namita Bapna Company Secretary Enc: a/a

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Annexure A

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Disclosure under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015

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Issuer Crest Ventures Limited
Type of securities Rated, Listed, Unsecured, Senior, Transferable,
Redeemable, Non-Convertible Debentures
(“Debentures”)
Type/ Mode of issuance Private Placement
Total Amount raised and total 9,090 12% Rated, Listed, Unsecured, Senior,
number of securities allotted Transferable, Redeemable Non-Convertible Debentures
each of face value ₹1,00,000/- (Rupees One Lakh only)
Size of the issue ₹90.90 Crores
Whether proposed to be listed? If Wholesale Debt Market Segment of BSE Limited
yes, name of the stock
exchange(s)
Tenure of the instrument; Deemed date of allotment – March 17, 2023
Tenure - 15 (Fifteen) months
date of allotment and date of Date of maturity/ Details of redemption of debentures -
maturity/ Details of redemption of 15 (Fifteen) months from the Deemed Date of Allotment,
debentures subject to early redemption or acceleration pursuant to
Event of Default.
Face Value ₹1,00,000/- (Rupees One Lakh only)
Issue Price per Debentures ₹1,00,000/- (Rupees One Lakh only), at par
Coupon/interest offered 12.00% p.a.
Schedule of payment of Coupon payment on quarterly basis from the date of
coupon/interest and principal deemed allotment and principal repayment on completion
of 15 (Fifteen) months from the Deemed Date of
Allotment.
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Credit Rating Credit Rating Agency - CARE Ratings Limited vide
Credit Rating letter dated February 21, 2023
Instruments/Issuer Ratings
Non-Convertible CARE BBB; Stable
Debentures
Issuer Rating CARE BBB; Stable
Charge/security, if any, created Not applicable. The debentures are unsecured.
over the assets
Special right/interest/privileges Not applicable
Delay in payment of interest / In case of default in monies due and payable in
principal amount for a period of connection with the Debentures on the respective due
more than three months from the dates, the defaulted amount thereof shall carry Default
Interest, at 2% (Two Percent) per annum over and above
due date or default in payment of
the Coupon rate, from the date of the occurrence of the
interest / principal default until the default is cured or the Debentures are
redeemed pursuant to such default, as applicable.
Details of any letter or comments Not applicable
regarding payment / non-payment
of interest, principal on due dates
or any other matter concerning the
security and / or the assets along
with its comments thereon, if any
Details of redemption of Not Applicable
preference shares indicating the
manner of redemption (whether
out of profits or out of fresh issue)
and debentures
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