STOCKWATCH

Motilal Oswal Financial Services Ltd. Approves Rs. 300 Crore NCD Issuance

Motilal Oswal Financial Services Ltd. has approved the issuance of up to Rs. 300 Crore worth of Non-Convertible Debentures (NCDs) on a private placement basis. The NCDs, each with a face value of Rs. 1,00,000, will be fully paid, secured, rated, redeemable, listed, senior bonds. The tenure of the instrument is 3 years from the date of allotment. The NCDs will be secured by a first ranking pari passu charge over the company's receivables, maintaining a minimum security cover of at least 1.00 times the outstanding principal amounts of the NCDs and all interest due and payable thereon until the maturity date.

• Motilal Oswal Financial Services Ltd. approves NCD issuance of Rs. 300 Crore
• NCDs to be fully paid, secured, rated, redeemable, listed, senior bonds
• Tenure of the instrument is 3 years from the date of allotment
• NCDs to be secured by a first ranking pari passu charge over the company's receivables
• Minimum security cover of at least 1.00 times the outstanding principal amounts of the NCDs and all interest due and payable thereon until the maturity date