BCC Fuba India puts ₹5 crore into subsidiary ioGems via convertible debentures
What's the deal? BCC Fuba IndiaDealroom has a profile for this one. Try Dealroom → has subscribed to ₹50,000,000 (about $522,173) in optionally convertible debentures (OCDs) issued by its subsidiary, ioGems TechnologiesDealroom has a profile for this one. Try Dealroom →. The company was allotted 50,000,000 unsecured OCDs at a face value of ₹10 each on August 18, 2026, marking the second tranche of its investment in the unit.
The terms: The debentures carry a 7% annual coupon and a seven-year tenure. They are unsecured and will not be listed on any stock exchange.
What's the endgame? BCC Fuba India, an electronic components maker, can convert the debentures into ioGems equity — in single or multiple tranches — at any point before maturity by giving written notice. The conversion price will be set by a registered valuer under the Companies Act, 2013; if the option goes unexercised, ioGems will redeem the OCDs at face value plus accrued interest.
How big is it? The round sits in the lower half of comparable deals, landing in the 21st percentile by amount. That reflects an early, modest capital injection rather than a headline raise.
The signal: Convertible debentures give parent companies a flexible way to fund subsidiaries while keeping the option to convert debt into equity later. For BCC Fuba India, the staggered tranches signal a measured, ongoing commitment to building out ioGems rather than a single large bet.
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Image credit: Generated with Gemini
