Sadbhav Engineering’s board has approved the issuance of rupee-denominated, unlisted, secured, and redeemable non-convertible debentures (NCDs) worth up to ₹1,000 crore on a private placement basis. The move aligns with the company’s debt resolution plan submitted to consortium lenders, aimed at restructuring liabilities and strengthening its financial position.
Sadbhav Engineering Limited announced that its Board of Directors, in a meeting held on December 17, 2025, approved the issuance of non-convertible debentures (NCDs) aggregating up to ₹1,000 crore. The NCDs, to be issued in multiple series or tranches, form a crucial component of the company’s ongoing debt resolution strategy with its consortium lenders.
These rupee-denominated debentures will be unlisted, rated, secured, taxable, and redeemable, issued on a private placement basis. The tenure, coupon rates, and amortization schedules vary across three categories—NCD-I, NCD-II, and NCD-III—offering interest rates up to an Internal Rate of Return (IRR) of 9.00 percent per annum.
Key Highlights
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Total issue size: Up to ₹1,000 crore
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Type: Rupee-denominated, unlisted, rated, secured, taxable NCDs
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Issuance mode: Private placement
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Coupon details:
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NCD-I: 9.00% IRR
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NCD-II: 0.01% IRR
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NCD-III: 9.00% IRR
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Security: Hypothecation and mortgage of specified company assets
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Objective: Implementation of the debt resolution plan and liability management
The debentures will be redeemed through profits and annuity receipts in accordance with the debt resolution framework.
Source: NSE Corporate Announcements, BSE Filings – Sadbhav Engineering Limited