SWELECT Energy Systems Limited held its Board of Directors meeting on February 4, 2025, to discuss and approve key business matters. One of the main decisions made during the meeting was the reaffirmation and approval of the proposal to raise funds through the issuance of Non-Convertible Debentures (NCDs).
The company had previously announced its intent to issue Unlisted Secured Non-Convertible Debentures on a private placement basis in its notification dated December 18, 2024. Since then, the company and the identified investor have considered making certain changes to the terms of the proposed NCD issuance. However, after thorough discussions and review, both parties decided to proceed with the original terms without any modifications.
As per the approved terms, the company will issue 1,385 Secured, Unlisted, Rated, Redeemable, Non-Cumulative, Taxable Non-Convertible Debentures, each with a face value of ₹10,00,000. The total value of this issuance will be ₹138.5 crores. These NCDs will be issued in one or more tranches on a private placement basis to India Infradebt Limited in compliance with the Companies Act, 2013, and other applicable regulations.
Additionally, the company has enclosed the necessary details as per SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015, and SEBI’s circular issued on July 13, 2023. The Board meeting began at 11:30 AM and concluded at 3:45 PM. The company has officially communicated this decision and requested relevant authorities to take note of the information.
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