Suvita Real Estates to Raise Rs.105 Crore via NCD

09 Feb 2024 CW Team

Suvita Real Estates, part of the Shapoorji Pallonji Group, is set to raise ?105 crore through a non-convertible debentures (NCD) issue with a 15-month tenure. This move aims to repay the company's existing debt. The NCDs offer a substantial return, nearly two-and-a-half times higher than risk-free rates, classifying them as high-yield or junk bonds. The bonds feature step-up pricing, where investors receive 17.25% interest for the first 12 months and 20.25% between the 13th and 15th months. Additionally, Suvita Real Estates reserves the right to redeem these bonds after 12 months. In case of default, investors are entitled to a 24% return. The company previously missed payments to Blackrock Asia Pacific Credit Opportunities Fund last September, and the proceeds from this NCD issue will be directed towards settling that debt. The secured listed bonds will be open for subscription on February 9, closing on the same day. The Shapoorji Pallonji group did not comment on this matter.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Real Estate

01 Jul 2026

Cascades Neopolis Partners With Spa L’Occitane

GHR Lakshmi Urbanblocks Infra LLP has partnered with Spa L’Occitane en Provence for The Cascades Neopolis, its Rs 31.69 billion residential project in Hyderabad. The collaboration will bring a Provençal-inspired better-being sanctuary to future residents, combining the wellness heritage of Haute-Provence with contemporary urban living.The Spa L’Occitane en Provence facility will be operated in India by Sanghvi Brands Limited, in line with the Maison’s global standards. The spa is planned as a restorative space within the 63-storey, 217-metre-tall residential development, equivalent to a..

Infrastructure Urban

01 Jul 2026

Vedanta Metal Bazaar Simplifies MSME Metal Buying

Vedanta Metal Bazaar, Vedanta Group’s non-ferrous metals e-store, is supporting MSMEs by bringing procurement, pricing, financing, logistics and technical assistance onto a single digital platform. The platform aims to make metal buying more transparent, efficient and accessible for smaller manufacturers.In FY26, around 600 customers placed over 30,000 orders worth nearly USD 5 billion through the e-store. More than 450 MSMEs used the platform for metal procurement, generating nearly USD 440 million in transaction value. The platform also facilitated over Rs 16 billion in channel financing f..

Infrastructure Urban

01 Jul 2026

Merlinhawk Opens Composites Facility in Tamil Nadu

Merlinhawk Aerospace , in partnership with Italy-based Vega Composites, recently inaugurated its advanced composites manufacturing facility, Merlinhawk Composites & Engineering, at Shoolagiri in the Tamil Nadu Defence Industrial Corridor. The facility marks a key step in strengthening India’s position as a globally competitive aerospace manufacturing hub.The facility was inaugurated by Admiral Dinesh K Tripathi, PVSM, AVSM, NM, Former Chief of Naval Staff, in the presence of senior industry leaders, global partners and stakeholders from India’s defence and manufacturing ecosystem. The ..