Lancor Holdings Limited — Important, 16-12-2024: Updates

The Banking Finance and Operations committee of Lancor Holdings Limited has approved the allotment of 243 Non-Convertible Debentures (NCDs) for a total of ₹2.43 crore, with each debenture having a face value of ₹1 lakh. These NCDs will carry an interest rate of 16.5% and will be repaid over 12 quarterly installments following a principal moratorium period of 12 months from the allotment date. The company's paid-up share capital, before and after this allotment, stands at ₹14.59 crore, consisting of 7,29,95,560 fully paid-up equity shares of ₹2 each. This financial move indicates a strategic approach to managing capital and debt, which could enhance the company’s financial flexibility going forward. Investors should continue to monitor the implications of this financing strategy.