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Gayatri Projects completes redemption of third and final tranche of its NCDs on maturity date

03 Dec 2015 Evaluate

Gayatri Projects has redeemed the third and final tranche of its debentures, including Interest and principal on the maturity date December 1, 2015. These NCDs were issued in the year 2010-11. The value of this tranche amounted to Rs 2,080 lakh. Post this transaction, all debentures active under ISM INE336H07038 (Series-Ill, the final series) stand extinguished and are suspended from trading with effect from December 1, 2015.

The company had in FY2011, issued 520, 11.50% Secured Redeemable Non-Convertible Debentures (NCDs) of Rs.10,00,000/- each on private placement in the form of Separately Transferable Redeemable Principal Parts (STRPPs) for cash at par aggregating Rs 5,200 lakh. The debentures were redeemable in the 3rd, 4th and 5th years in the ratio of 30:30:40. The Company has completed the redemption process in line with the designated schedule - redeeming the first tranche of Rs.1,560 lakh in December 2013, and the second tranche of Rs.1,560 lakh in August 2015. 

Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, primarily undertaking road and irrigation projects.

Gayatri Projects Share Price

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