Ballarpur raises $6M in zero-coupon debt, half of its approved NCD issue
What's the deal? Ballarpur IndustriesDealroom has a profile for this one. Try Dealroom → has allotted US$7.81M in zero-coupon, unsecured non-convertible debentures (NCDs) through a private placement. The company disclosed the allotment to stock exchanges on September 21, 2026, following an online bidding process on the BSE EBP Platform. Infotel Technologies Private Limited and Belgrave Investment FundDealroom has a profile for this one. Try Dealroom → subscribed to the issue.
The terms: The NCDs carry a three-year tenure and mature on September 21, 2029. The company allotted 5,750 units at a face value of US$1.36K each. The instruments are listed on the Bombay Stock Exchange (BSE) and carry no charge or security over the company's assets.
What's the money for? Proceeds will fund Ballarpur's working capital requirements.
Why now? The allotment is a portion of the US$13.6M NCD issue that the board approved in July 2026. That leaves US$5.77M of the approved issue yet to be raised.
What could go wrong? If the company defaults or delays principal redemption beyond three months from the due date, it must pay additional interest of 2% per annum over the coupon rate for the defaulting period.
The signal: Tapping unsecured, zero-coupon debt for working capital signals Ballarpur's turn to private placement over conventional bank credit. With half the approved issue still on the table, the next tranche will hinge on market conditions.
Image credit: Generated with Gemini
