RattanIndia Power Limited - 533122 - Announcement under Regulation 30 (LODR)-Allotment
Pursuant to the Regulation 30 of the SEBI (LODR) Regulations, 2015, as amended, we wish to inform that the Board of Directors of the Company has approved the issuance and allotment of 1,96,500 non-convertible debentures ('NCDs') of face value Rs. 1,00,000/- each of the Company, at an issue price of Rs. 1,00,000/- per NCD to Aditya Birla ARC Limited acting on behalf of and in its capacity as trustee of ABARC-AST-002-TRUST (hereinafter 'ARC'). Issuance and allotment of aforesaid NCDs has been made consequent to the conversion of an outstanding debt of an equivalent amount, owed by the Company to ARC ('Facility A'), in respect whereof, ARC exercised the option of conversion pursuant to and in terms of the relevant financing agreement between the Company and ARC. Importantly the NCDs carry an interest rate per annum, which is less by 1.25 %, in comparison to the rate of interest which was applicable to the erstwhile Facility A, thereby meaning savings in financing cost for the Company.08-01-2021