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<keyword id="15368544" type="General" weightage="20" keywordseo="nhais-infrastructure-investment-trust" source="Orion">NHAI's Infrastructure Investment Trust</keyword> (InvIT) <keyword id="6355663" type="General" weightage="20" keywordseo="non-convertible-debentures" source="Orion">Non-Convertible Debentures</keyword> was listed on the <keyword id="43628" type="General" weightage="20" keywordseo="bombay-stock-exchange" source="Orion">Bombay Stock Exchange</keyword> on Friday. Union Minister of Road Transport and Highway Nitin Gadkari on Friday said, "Today is a historic day and I feel very happy that we could finally give the Retail Investors (retired citizens, salaried individuals, small and medium business owners) an opportunity to participate in the Nation-Building activity. The minimum investment slab is just Rs 10,000." Gadkari informed that 25 per cent of NCDs has been reserved for Retail Investors. "The listing of InvIT NCDs on Bombay Stock Exchange is historic as it marks the new dawn for People's Participation (Jan-Bhagidaari) in Infra Funding. We have reserved 25 per cent of NCDs for Retail Investors. The round 2 of InvIT has been oversubscribed almost 7 times in just 7 hours of its opening. It offers an effective yield of 8.05 per cent per annum with highest credibility." Huge investments in infrastructure, especially roads, are crucial to the socio-economic development of our country, the minister said. "InvIT Bonds are a great opportunity to realize PM Narendra Modi Ji's vision of #AatmanirbharBharat. Huge investments in infrastructure, especially roads, are crucial to the socio-economic development of our country &amp; I'm confident that more retail investors will take part in next rounds and gradually overtake institutional investors," he added. Earlier, the Ministry had said that the second round of InvIT has been oversubscribed almost 5 times in 10% of the scheduled tenure. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/fired-twitter-ceo-parag-agarwal-takes-home-38-7-million-as-payout/articleshow/95137361.cms" style="">Fired Twitter CEO Parag Agarwal takes home $38.7 million as payout</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/walmart-netflix-partner-to-expand-hub-experience-to-more-viewers/articleshow/95136485.cms" style="">Walmart, Netflix partner to expand Hub experience to more viewers</a>

NHAI InvIT Non-Convertible Debentures listed on BSE

<keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> &amp; Special Economic Zone Ltd. has raised Rs 900 crore through allotment of <keyword id="6355663" type="UNKNOWN" weightage="20" keywordseo="non-convertible-debentures">non-convertible debentures</keyword> (NCD) on private placement basis. In a regulatory filing issued on Friday, the company said that the <keyword id="92012" type="CITY" weightage="20" keywordseo="NCDs">NCDs</keyword> will be listed on the Wholesale Debt Market segment of BSE Ltd. "The company has raised Rs 900 crore today by allotment of 9,000 Rated, Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each on private placement basis," the filing said. <keyword id="1697348" type="PERSON" weightage="20" keywordseo="Adani-Ports-and-Special-Economic-Zone">Adani Ports and Special Economic Zone</keyword> Ltd. (APSEZ) has presence across 10 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.

Adani Ports lands ₹900 crore through non-convertible debentures

Bankrupt non-banking financial company (<keyword id="6355260" type="UNKNOWN" weightage="20" keywordseo="NBFC">NBFC</keyword>) <keyword id="127124" type="CITY" weightage="20" keywordseo="DHFL">DHFL</keyword> has defaulted on the repayment of Rs 50 crore on secured non-convertible debentures (NCD) and has attributed its failure to repay the principal payment to the moratorium restrictions on it. "It may please be noted that the company is currently under moratorium pursuant to Section 14 of the Code since November 29, 2019 and hence, the company is not in a position to make payment of interest or principal to any of the company lenders, including NCDs holders," DHFL said in a regulatory filing. The payments to the lenders or NCD holders remains in abeyance and will be subject to the outcome of the corporate insolvency resolution process (CIRP) initiated against the company as per the Insolvency and Bankruptcy Code, 2016. Last November, the Reserve Bank of India (RBI) superseded the Board of Directors of the company and appointed an administrator and accordingly, the board powers were vested in the firm's administrator. Further, the Mumbai-bench of the National Company Law Tribunal (NCLT) at Mumbai commenced the CIRP against the company in December, following an application by the RBI. The company reportedly has debt of around Rs 97,000 crore and has allegedly siphoned off Rs 31,000 crore from the total bank loans. Company promoters Kapil Wadhawan and Dheeraj Wadhawan were arrested by the Central Bureau of Investigation in April and are currently facing probe.

DHFL fails to repay ₹50 crore on secured non-convertible debentures – blames moratorium restrictions for non-payment

New Delhi, Feb 17 () Tata Motors on Monday said it plans to raise Rs 500 crore through issue of securities for which a committee of its board will meet on February 24. Tata Motors' board in its meeting held on October 25, 2019 had approved and authorised raising of additional funds up to Rs 3,500 crore through external commercial borrowings, listed, unsecured, rated, non-convertible debentures or any other form of borrowing or in any combination. "We would like to inform you that the company is desirous of offering rated, listed, unsecured, redeemable, non-convertible debentures aggregating Rs 500 crore in two tranches...," Tata Motors said in a regulatory filing. The issuance is pursuant to the approval of the board of directors' resolution passed at its meeting held on October 25, 2019, it added. On the same date, the company's board had also approved raising of Rs 6,500 crore from Tata Sons through preferential issue. "In this regard is holding a meeting of its duly constituted committee of the board on February 24, 2020," the company said. The fund infusion by Tata Sons, the promoter of major operating companies of the Tata Group, into Tata Motors was aimed at helping the auto maker, whose domestic business was hit by slowdown that "significantly impacted sales volumes, profitability and cash flows and increased the net debt to unsustainable levels". RKL RVK

Tata Motors to raise Rs 500 cr through issue of non-convertible debentures

New Delhi, Feb 17 () Vodafone Idea on Monday said Care Ratings has downgraded rating on its long term bank facilities and non-convertible debentures. The downgrade is on account of "significant erosion" in the overall risk profile of the company in the wake of absence of relief on modification plea relating to AGR dues on February 14. It also takes cognizance of recent losses suffered by the company in the quarter ended December. In a regulatory filing, Vodafone Idea said that Care Ratings Limited (CARE) has downgraded its rating on long term bank facilities and non-convertible debentures. The rating on long term bank facilities and non-convertible debentures has been revised to 'BB-' from 'BBB-'. "As per the rating rationale published on the website, the downgrade is on account of significant erosion in the overall risk profile of the company while taking into cognizance the financial impact of no relief being granted on modification plea on 14 February 2020 of telecom companies seeking new schedule of Adjusted Gross Revenues (AGR) dues by Supreme Court and significant losses to the tune of Rs 6,453 crores in Q3FY20," Vodafone Idea said. In a separate filing, Vodafone Idea had said that its board has authorised the company to immediately pay Rs 2,500 crore, a portion of its statutory dues, to the telecom department on Monday. The company also promised to pay another Rs 1,000 crore before the end of the week. "The board will take further stock of the situation to see how further additional payments can be made," the company had said. Vodafone Idea's dues are over Rs 53,000 crore as per estimates by the telecom department. MBI RVK

Care downgrades rating on Vodafone Idea's long term bank facilities, non-convertible debentures

<keyword id="895682" type="General" weightage="20" keywordseo="adani-ports" source="Orion">Adani Ports</keyword> and Special Economic Zone (APSEZ) on Tuesday raised Rs 500 crore by issuing non-convertible debentures on private placement basis. Billionaire Gautam Adani's firm in a regulatory filing said it has accepted bids aggregating to Rs 500 crore for two listed <keyword id="35147" type="General" weightage="20" keywordseo="bonds" source="Orion">bonds</keyword>, with one maturing in five years and the other in 10 years. "The company raised Rs 500 crore today i.e. January 9, 2024 by allotment of 50,000 rated, secured, listed, redeemable, non-convertible debentures (<keyword id="92012" type="General" weightage="20" keywordseo="ncds" source="Orion">NCDs</keyword>) of face value of Rs 1,00,000/ each on private placement basis," it said. The NCDs will be listed on the wholesale debt market segment of BSE. APSEZ is the largest port developer and operator in India with 7 strategically located ports and <keyword id="6486550" type="General" weightage="20" keywordseo="terminals" source="Orion">terminals</keyword> on the west coast and as many ports and terminals on the east coast, representing 26 per cent of the country's total port volumes.

Adani Ports raises Rs 500 crore by issuing bonds

<ul><li>Typically, a non-convertible debenture carries a fixed interest rate that has an inverse relationship to how credit worthy the borrower is. </li><li>NCDs are more liquid than corporate FD as they are traded in the secondary market on stock exchanges. </li><li>Each <keyword id="131571" type="General" weightage="20" keywordseo="ncd" source="Orion">NCD</keyword> undergoes assessment by multiple <keyword id="147335" type="General" weightage="20" keywordseo="credit-rating-agencies" source="Orion">credit rating agencies</keyword>, portraying the issuer's capacity to honour payment commitments. </li></ul>A non-convertible debenture, (NCD), is a type of debt instrument that lacks the option for buyers to convert it into shares or equities until its maturity. When investing in an NCD, buyers have the choice to purchase or sell the instrument and receive interest payments determined by the issuer's fixed interest rate. “But they are more liquid than corporate FD as NCDs are traded in the secondary market on stock exchanges,” says Abhishek Kumar, founder and chief<a href="https://business.outlookindia.com/invest/investment"> </a>investment advisor at SahajMoney, a financial planning firm. Interest rate: Typically, a non-convertible debenture carries a fixed interest rate that has an inverse relationship to how credit worthy the borrower is. An NCD from a highly rated issuer tends to offer a lower interest rate. Credit rating: Each NCD undergoes assessment by multiple credit rating agencies, portraying the issuer's capacity to honour payment commitments. Strong financials and a healthy cash flow of the issuing company result in higher ratings for the issued NCD. Should you invest? One should be very clear about the quality of the NCD, what is the cash flow of the company and what is the risk one is going to take. One should consider the credit rating of these NCDs before investing. However, that may not be foolproof. Do not invest in NCDs just for higher <keyword id="6374680" type="General" weightage="20" keywordseo="returns" source="Orion">returns</keyword> Investing in NCDs may not be a good idea, even if you are going with a AAA rating, say experts. Certain NCDs have left a bad taste in the mouth off late. One example is that of the default of the Dewan Housing Finance Corporation Ltd (DHFL) NCD which was AAA rated but was offering a higher interest rate than some AAA rated NCDs. Same was the case with Infrastructure Leasing &amp; Financial Services Limited (IL&amp;FS), whose NCS was also AAA rated. “Even HDFC has a AAA rating , why should someone have to pay you more than the other? So, there is a perceived risk in the NCD which is offering higher returns” says Srinivasan, director and founder, Shree Sidvin Investment Advisors. Numerous NCDs are now being offered at attractive yields as a result of the increase in <keyword id="6371181" type="General" weightage="20" keywordseo="interest-rates" source="Orion">interest rates</keyword>. “However, one should be well informed about the company in which they want to invest, and they shouldn't base their investment decision solely on the basis of the high yields,” says Raghvendra Nath, MD, Ladderup Wealth Management. So higher interest rates of 9% or so should not be a reason to invest in NCDs. “We do tell our clients that for a difference of 2-3% in interest rate you should not take a principal risk,” says Srinivasan. Thus, when investing in NCDs, it pays to be careful.

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NHAI InvIT Non-Convertible Debentures listed on BSE

IANS

Adani Ports lands ₹900 crore through non-convertible debentures

IANS

DHFL fails to repay ₹50 crore on secured non-convertible debentures – blames moratorium restrictions for non-payment

IANS

Tata Motors to raise Rs 500 cr through issue of non-convertible debentures

PTI

Care downgrades rating on Vodafone Idea's long term bank facilities, non-convertible debentures

PTI

Adani Ports raises Rs 500 crore by issuing bonds

PTI

NCDs may offer a higher interest rate than fixed deposits but experts advise caution

Anagh Pal

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