Swelect Energy Secures Rs 138.5 Crore via Non-Convertible Debentures

Swelect Energy Systems has raised Rs 138.5 crore by issuing non-convertible debentures through a private placement with India Infradebt Limited. The Board of Directors approved the issuance of the debentures during a recent meeting. The NCDs will be allotted on February 25, 2025.

Swelect Energy Systems announced on Tuesday that it successfully secured Rs 138.5 crore through the issuance of non-convertible debentures. The private placement transaction was conducted with India Infradebt Limited.

During their board meeting, held today, the company's Board of Directors sanctioned the allocation of 1,385 secured, unlisted, rated, redeemable, non-cumulative, taxable, non-convertible debentures. Each debenture has a face value of Rs 10,00,000, collectively amounting to Rs 138.5 crore.

The allotment of these non-convertible debentures is scheduled for February 25, 2025, according to the filing made with the BSE.

(With inputs from agencies.)