Walchandnagar Industries Ltd — Capital/Financing Update 2024

Jul 19, 2024

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Date: July 19, 2024

To,

National Stock Exchange of India Ltd. BSE Ltd., Corporate Action Department Corporate Relations Department Exchange Plaza, 5[th] floor, 1[st] floor, New Trading Ring, Plot No. C/1, G Block, Rotunda Bldg., P. J. Tower, Bandra Kurla Complex, Bandra (East), Mumbai 400 001 Mumbai - 400 051. Scrip Code : 507410 Scrip Code : WALCHANNAG

Subject:

Allotment of Unlisted, Secured, Redeemable, Non-convertible Debentures aggregating to Rs. 74,00,00,000 (Indian Rupees Seventy Four Crores)

Ref: Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to our letter dated July 15, 2024, we wish to inform that the Allotment Committee of the Board of Directors of Walchandnagar Industries Limited (“the Company ”), vide resolution passed by circulation on July 19, 2024, allotted Unlisted, Secured, Redeemable, Non-convertible Debentures (NCDs) of INR 10,00,000/- (Rupees Ten Lakh only) each on a private placement basis aggregating to Rs. 74,00,00,000 (Rupees Seventy Four Crores only), on the terms and conditions given below:-

Sr. No .	Particulars	Description
1	Type of securities issued/ allotted (viz. equity shares, convertibles etc.)	Unlisted, Secured, Redeemable, Non-convertible Debentures (NCDs) for an amount aggregating to Rs. 74,00,00,000 (Indian Rupees Seventy Four Crores)
2	Type of issuance (further public offering, rights issue, depository receipts (ADR/GDR), qualified Institutions placement, preferential allotment etc.)	Private Placement
3	Total number of securities issued/ allotted	740 NCDs of face value of INR 10,00,000/- (Rupees Ten Lakh Only) each aggregating to INR 74,00,00,000 (Indian Rupees SeventyFour Crores)
4.	Issue Size / the total amount for which the	Rs. 74,00,00,000 (Indian Rupees Seventy Four Crores)

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	securities have been issued/allotted
5.	Number of Investors	1(One)
6.	Name of the Investor	Neo Special Credit Opportunities Fund
7.	Outcome of the subscription	Fully subscribed
8.	Issue Price / Allotted Priceper security	Rs. 10,00,000/- per non-convertible debenture
9.	Whether proposed to be listed? If yes, name of the stock exchange(s);	No
10.	Tenure of the instrument	4(Four) years from the date of allotment.
11.	Date of Allotment	July19,2024
12.	Date of Maturity	June 30,2028
13.	Coupon/interest offered	17.5%p.a.
14.	Schedule of payment of coupon/interest and principal	Coupon/ Interest - 17.5% p.a., payable monthly i.e. on last working day of every month Principal - Upon Redemption
15.	Charge/security, if any, created over the assets;	(a) first ranking and exclusive pledge over at least 1,05,44,765 (One Crore Five Lakhs Forty Four Thousand Seven Hundred and Sixty Five) fully paid up equity shares of the Company held or to be held by Walchand Great Achievers Private Limited, Walchand Kamdhenu Commercials Private Limited and Walchand Chiranika Trading Private Limited; (b) a first ranking exclusive charge by way of mortgage by the Company over its certain immovable properties situated in Maharashtra and Karnataka; (c) a first ranking exclusive charge by way of hypothecation by the company over certain accounts, insurance policies (in relation to the above mentioned mortgaged properties) and movable properties of the Company (in relation to the above mentioned mortgaged properties).
16.	Special right/interest/privilege s attached to the instrument and changes thereof	Not Applicable
18.	Details of any letter or comments regarding	Not Applicable

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	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;
19.	Details of redemption of debentures		Redemption of debentures shall be as follows: Sr No Date Repayment Amount (in Cr) 1 30-Jun-25 26.00 2 31-Dec-25 4.00 3 30-Jun-26 4.00 4 30-Sep-26 5.00 5 31-Dec-26 5.00 6 31-Mar-27 5.00 7 30-Jun-27 5.00 8 30-Sep-27 5.00 9 31-Dec-27 5.00 10 31-Mar-28 5.00 11 30-Jun-28 5.00 Total 74.00 Further there are – (1) certain events, as may be identified in the debenture trust deed, which shall trigger mandatory redemption of the debentures; and (2) certain proceeds which may be collected by the Company, as may be identified in the debenture trust deed, which shall mandatorily be utilized towards mandatoryredemption of the debentures.
20.	Any cancellation or termination of proposal for issuance of securities including reasons thereof		Not Applicable

The aforesaid information will also be available on the website of the Company at www.walchand.com.

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We request you to take this on record.

For Walchandnagar Industries Ltd.

Digitally signed by GIRIRAJ SHARAN AGRAWAL DN: c=IN, o=Personal, title=5216, 2.5.4.20=f048798869b5576cd33292a4b6b9b7aa85cf64f178f4881b 0e4fdb4df0c75a75, postalCode=400034, st=Maharashtra, serialNumber=5a4130bf9a70610c0fd108bdfb582c7679b40820964 34107dba690b8c4821e18, cn=GIRIRAJ SHARAN AGRAWAL Date: 2024.07.19 18:13:06 +05'30'

GIRIRAJ SHARAN AGRAWAL

G. S. Agrawal Whole Time Director & Company Secretary DIN: 00404340

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