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Kolte-Patil Developers Ltd — Capital/Financing Update 2024
Sep 20, 2024
59438_rns_2024-09-20_a3b6b231-bc20-496a-b4b1-0d7f02ef7178.pdf
Capital/Financing Update
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To, The Assistant Manager, National Stock Exchange of India Limited BSE Limited, Listing Department, ‘Exchange Plaza’, Bandra Kurla Complex, 1[st] Bandra (East), Mumbai – 400051
20 September 2024
Subject: Allotment of Series 3, Secured, Listed, Rated, Redeemable, Non-Convertible Debentures
ISIN: Equity: INE094I01018 and Debt: INE094I07049 and INE094I07064
Ref: NSE Symbol and Series: KOLTEPATIL and EQ BSE Code and Scrip Code - Equity: 9624 and 532924 BSE Security Code and Security Name – Debt: 974771 and KPDLZC33 BSE Security Code and Security Name – Debt: 975276 and KPDL221223
Dear Sir/Madam,
Pursuant to Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read together with Para A of Part A of Schedule III of the Regulations, we wish to inform you that the Debenture Allotment Committee of Board of Directors of Kolte-Patil Developers Limited (“ Company ”) at their meeting held on Friday, 20 September 2024, approved allotment of 13,377 (Thirteen Thousand Three Hundred and Seventy Seven) Series 3 fully, secured, listed, rated, redeemable, non-convertible debentures of par value Rs. 1,00,000/- (Rupees One Lakh only) each aggregating to Rs. 133,77,00,000/- (Rupees One Hundred and Thirty Three Crore Seventy Seven Lakh only), on a private placement basis to Marubeni Corporation, Japan. The funds raised from this issuance will be utilized towards general corporate purposes of the Company including without limitation, towards construction and development of the Project.
Page 1 of 7
KOLTE-PATIL DEVELOPERS LTD.
CIN: L45200PN1991PLC129428
Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune-411 001, Maharashtra India Tel.: +91 20 6742 9200
Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]
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The other required details in terms of the above regulations read with Circular no. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated 13 July 2023 issued by the Securities and Exchange Board of India are as follows:
| Sr. No. | Details | Particulars |
|---|---|---|
| 1. | Nature and Tenure of the instrument |
Series 3, Fully Secured, Listed, Rated, Redeemable, Non-Convertible Debentures. The Debentures will be listed on BSE Limited. Unless redeemed earlier, the tenure of the Debentures shall be a period of 10 years. |
| 2. | Coupon/ interest offered, | Zero Coupon. |
| 3. | Schedule of payment of coupon/interest and principal |
Coupon/ Interest: Not applicable Principal: The Debentures shall be redeemed at par at the end of 10 years from the Date of Allotment. Further, the Company is required to do the redemption of Debentures for every fortnightly period, by way of: (i) payment of amounts calculated for each Reference Period towards payment of the outstanding Principal Amounts, resulting in the pro rata reduction of the face value of each, on each Redemption Date; and (ii) payment of amounts calculated for each Reference Period towards the payment of the Redemption Premium payable on such payment of the outstanding Principal Amounts, on each Redemption Date |
Page 2 of 7
KOLTE-PATIL DEVELOPERS LTD.
CIN: L45200PN1991PLC129428 Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune-411 001, Maharashtra India Tel.: +91 20 6742 9200
Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]
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| Sr. No. | Details | Particulars |
|---|---|---|
| in such a manner that the full redemption of the Debentures, together with the payment of the Redemption Premium, occurs upon the completion of the sale of all the Earmarked Units. |
||
| 4. | Charge/security, if any, created over the assets |
(a) Secured Property 1:First ranking exclusive mortgage and charge in respect ofAll the right, title and interest possessed by the Company in the Unsold Earmarked Units including the entire rights, title, interest of the Company in relation to Project Land situated at Wagholi, Pune attributable to such Unsold Earmarked Units and all movables assets in relation to the Unsold Earmarked Units including but not limited to all furniture, fittings and also all rights to use common areas and facilities and incidentals attached thereto together with 239 car parking spaces together with all easements and appurtenances whatsoever to the Unsold Earmarked Units in relation thereto and hereditaments or premises or any part thereof whether presently in existence or in the future belonging to or in any way appurtenant thereto or usually held, occupied or enjoyed therewith or expected to belong or be appurtenant thereto together with all right, title, interest, benefit, claims and demands whatsoever of the Company in all the Investor Receivables / cash-flows arising from the Earmarked Units including but not limited to the Investor Receivables and all rights, title, interest, benefits, claims and demands whatsoever of the Company in, to or in respect of the said amounts as well as all the rights, title and interest of the |
Page 3 of 7
KOLTE-PATIL DEVELOPERS LTD.
CIN: L45200PN1991PLC129428 Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune-411 001, Maharashtra India Tel.: +91 20 6742 9200
Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]
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Sr. No. Details Particulars Company in, to or in respect of any bank accounts/ Escrow Accounts where the aforementioned Investor Receivables are held (excluding the bank accounts which are required to be opened in terms of the RERA) and all insurance proceeds received by the Company in relation to the Earmarked Units. (b) Secured Property 2: First ranking exclusive mortgage and charge in respect of all the right, title and interest possessed by the Company in the Project Land and/or Project (including the development potential as envisaged under the Deed of Conveyance or any other documents/agreements that may be executed between the Company and the Previous Landowner) including the rights to develop the Project (including the Residential Units and the Retail Units),along with the right of the Company to consume FSI the extent of 51,286 square meters on the Project Land as per the Deed of Conveyance or any other FSI or development potential that may become available to the Company to be utilized on the Project Land in terms of any agreements/documents that may be executed by the Company with the Previous Landowner, together with all the buildings, erections and constructions of every description which are standing erected or attached or shall at any time hereafter, during the term of the Debentures be erected and standing or attached to the Project Land and all cash-flows attributable thereto together with all the hereditaments or premises or any part thereof whether presently in existence or
Page 4 of 7
KOLTE-PATIL DEVELOPERS LTD.
CIN: L45200PN1991PLC129428 Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune-411 001, Maharashtra India Tel.: +91 20 6742 9200
Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]
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| Sr. No. | Details | Particulars |
|---|---|---|
| in the future belonging to or in any way appurtenant thereto or usually held, occupied or enjoyed therewith or expected to belong or be appurtenant thereto AND all estates, rights, title, interest, property, claims and demands whatsoever of the Company in, to and upon the same whether presently in existence or acquired thereafter. It being clarified that Secured Property 2 shall not include the Reserved Area and the Retail Receivables / cash-flows arising from the Retail Units including but not limited to the Retail Receivables and all rights, title, interest, benefits, claims and demands whatsoever of the Company in, to or in respect of the said amounts. (c) Secured Property 3:First ranking exclusive charge by way of hypothecation in respect of all the Investor Receivables/ cash-flows arising from the Earmarked Units (both, Sold Earmarked Units and Unsold Earmarked Units) including but not limited to the Investor Receivables and all rights, title, interest, benefits, claims and demands whatsoever of the Company in, to or in respect of the said amounts as well as all the rights title and interest of the Company in, to or in respect of any bank accounts where the aforementioned Investor Receivables are held (excluding the bank accounts which are required to be opened in terms of the RERA). All and singular, Company’s tangible property (both present and future) in relation to the Earmarked Units (both, Sold Earmarked Units |
Page 5 of 7
KOLTE-PATIL DEVELOPERS LTD.
CIN: L45200PN1991PLC129428 Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune-411 001, Maharashtra India Tel.: +91 20 6742 9200
Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]
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| Sr. No. | Details | Particulars |
|---|---|---|
| and Unsold Earmarked Units) including, without limitation, all actionable claims, inventory, insurance policies, all moveable plant and machinery (whether attached or otherwise), raw materials, all items of equipment, building materials and all other fixed assets other than land and buildings, both present and future, in respect of the Earmarked Units, whether installed or not, whether now belonging to or that may at any time during the continuance of the term of the Debentures belong to the Company and/or that may at present or hereafter be held by any party anywhere to the order or disposition of the Company and all replacements thereof and additions thereof whether by way of substitution, addition, replacement, conversion, realisation or otherwise howsoever together with all benefits, rights and incidentals attached thereto which are now or shall at any time hereafter be owned by the Company AND all estates, rights, title, interest, property, claims and demands whatsoever of the Company in, to and upon the same. |
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| 5. | Special right/interest/privileges attached to the instrument and changes thereof; |
Special consent rights and exits rights in accordance with the Debenture Trust Deed and other documents executed with regard to the issue of Debentures |
| 6. | Delay in payment of interest / principal amount for a period of more than three months from the due date or default in payment of interest / principal; |
Not Applicable |
Page 6 of 7
KOLTE-PATIL DEVELOPERS LTD.
CIN: L45200PN1991PLC129428
Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune-411 001, Maharashtra India Tel.: +91 20 6742 9200
Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]
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| Sr. No. | Details | Particulars |
|---|---|---|
| 7. | Details of any letter or comments 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 |
Not Applicable |
The Debenture Allotment Committee Meeting was commenced at 12.15 PM and concluded at 12.45 PM.
We request you to take the above information on record and the same be treated as compliance under the applicable provision(s) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
This is for your information and record.
For Kolte-Patil Developers Limited
VINOD Digitally signed by VINOD EKNATH EKNATH PATIL Date: 2024.09.20 PATIL 18:40:36 +05'30'
Vinod Patil Company Secretary and Compliance Officer Membership No. A13258
Page 7 of 7
KOLTE-PATIL DEVELOPERS LTD.
CIN: L45200PN1991PLC129428 Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune-411 001, Maharashtra India Tel.: +91 20 6742 9200
Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]