The board of directors of Arman Financial Services Limited at its meeting held on May 25, 2025 has inter-alia considered and approved the issuance of: 4000 senior, secured, listed, rated, redeemable non-convertible debentures of face value of INR 100,000/- each, aggregating to INR 400,000,000 by way of a private placement. The issuance pertains to senior, secured, rated, listed, transferable, taxable, redeemable non-convertible debentures, offered through a private placement with a total size of INR 40,00,00,000 . These debentures are proposed to be listed on BSE Limited.
The tenure of the instrument is set for 36 months from the deemed date of allotment, which is June 5, 2025, with a maturity date of June 5, 2028. The interest rate is fixed at 11.40% per annum, payable monthly, with coupon payment dates commencing on July 5, 2025, and continuing on the redemption date, in accordance with the Business Day convention. The redemption amount and schedule include quarterly payments starting from September 5, 2025.
The issue is secured by way of book debts. The issuance pertains to senior, secured, rated, listed, transferable, taxable, redeemable non-convertible debentures, offered through a private placement with a total size of INR 400,000,000 . In the event of a delay in the payment of interest and/or principal redemption beyond three months from the due date, the issuer will be liable to pay additional interest at a rate of 2% per annum over the coupon rate for the period of default.
The debentures shall be redeemed at par by the company, with payments made in accordance with the deemed date of allotment (DTD) and other transaction documents. The trustee for this issue is IDBI Trusteeship Services Limited.
