Kavinam Property Development Private Limited
ACTIVE
ISIN: INE0XKL07015
Issuer Details
Issuer Name
KAVINAM PROPERTY DEVELOPMENT...
Type of Issuer
Non PSU
Sector
Realty
Coupon Rate
5.5%
Industry
Realty
Issuer nature
Other
Corporate Identity Number (CIN)
U45309MH2019PTC320465
Name of the Lead Manager
-
Registrar
Link Intime India Private Li...
Name of Debenture Trustee
Catalyst Trusteeship Limited...
Instrument Details
Instrument name as on NSDL
5.50% SECURED UNRATED UNLIST...
Face Value (in ₹)
100000
Total Issue size( in ₹ Cr.)
640
Category of Instrument
PLAIN VANILLA DEBENTURES
Allotment Date
23-07-2024
Redemption Date
23-07-2028
Whether Secured or Unsecured
Secured
Put Option Date
-
Call Option Date
-
Seniority in Repayment
Senior
Security Measures
Asset Coverage
Principal + Interest
Asset Percentage
100%
Details of Asset Cover
first ranking exclusives pledge over 100% of present future equity shareholding of the Company held by Shapoorji Pallonji Real Estate Private Limited SPRE and Instant Karmaa Properties Private Limited and a first ranking exclusive charge over the receivable Kavinam as defined in the Debenture Trust Deed, in accordance with pledge and charge agreement to be executed between inter alia the company, SPRE and the debenture Trustee as amended or amended and restated from time to time.
Asset Type
Details of the security
Immovable Assets
first ranking exclusive security over the SIPL Hypothecated Assets 2 (as defined in the Debenture Trust Deed) in accordance with the deed of hypothecation executed between SIPL and the Common Security Trustee (as amended or amended and restated from time to time).
Movable Asset
first ranking exclusive security over the SIPL Hypothecated Assets 2 (as defined in the Debenture Trust Deed) in accordance with the deed of hypothecation executed between SIPL and the Common Security Trustee (as amended or amended and restated from time to time).
Movable Asset
First ranking exclusive pledge over the Sterling Investments Private Limited (SIPL) pledged shares (as defined in the Debenture Trust Deed) in accordance with the pledge agreement executed between Mr. Firoz Mistry, Mr. Zahan Mistry and Mr. Shapoor Mistry (collectively referred to as the Promoter) and common security trustee (as amended or amended and restated from time to time.
Movable Asset
First ranking exclusive security over all of the Company rights, title, interest, benefits, claims and demands whatsoever of all the assets of the Company (other than the shareholding of SD Corporation Private Limited held by the Company ), including without limitation, the Fixed deposits (as defined in the Debenture Trust Deed), the Topup cash (as defined in the Debenture Trust deed), the Kavinam Receivables (as defined in the Debenture Trust Deed), all amounts lent or advanced
Movable Asset
first ranking exclusive security over the SPRE pledged securities (as defined in the debenture trust deed) and a first ranking exclusive charge over the SPRE hypothecated assets (as defined in the debenture trust deed) in accordance with the pledge and agreement executed between the SPRE, Shapoorji Pallonji Homes Private Limited, Shapoorji Estate Developers Private Limited and Common Security Trustee ( as amended or amended and restated from time to time.
Movable Asset
First ranking exclusive pledge over the PHC pledge shares (as defined in the Debenture Trust Deed) held by SIPL in accordance with the pledge agreement executed between SIPL and the Common Security Trustee ( as amended or amended and restated from time to time).
Movable Asset
first ranking exclusives pledge over 100% of present future equity shareholding of the Company held by Shapoorji Pallonji Real Estate Private Limited SPRE and Instant Karmaa Properties Private Limited and a first ranking exclusive charge over the receivable Kavinam as defined in the Debenture Trust Deed, in accordance with pledge and charge agreement to be executed between inter alia the company, SPRE and the debenture Trustee as amended or amended and restated from time to time.
Movable Asset
first ranking exclusive charge over all of S D Corps rights, title, interest, benefits, claims and demands whatsoever in the current account to be opened by SD Corp with ICICI Bank Limited (SD Corp Designated Account) along with all amounts lying in or deposited into the SD Corp Designated Account from time to time in accordance with the deed of hypothecation to be executed between SD Corp and the Debenture Trustee (as may be amended or amended and restated from time to time).
Immovable Assets
first ranking pari passu mortgage over the Mortgaged Assets by way of deed of mortgage executed inter alia between SD Corporation Private Limited and the Common Security Trustee for the benefit of inter alia the debenture holders of the Debentures (as amended or amended and restated from time to time). Mortgaged Assets include the rights of SD Corp in relation to the construction and development of sale wing C (including but not limited to the cash flows from such construction and development)
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About Kavinam Property Development Private Limited bond with ISIN: INE0XKL07015
In the competitive landscape of fixed income securities, detailed and comprehensive information is vital for both investors and market analysts. This bond, identified by the unique ISIN INE0XKL07015, represents a significant financial instrument. Issued by KAVINAM PROPERTY DEVELOPMENT PRIVATE LIMITED, it comes with the following description: "5.50% SECURED UNRATED UNLISTED REDEEMABLE NON-CONVERTIBLE DEBENTURES DATE OF MATURITY 23/07/2028.". Although the bond is currently marked as active, its structure and historical context provide valuable insights into the world of debentures and non-convertible securities. The issuer, KAVINAM PROPERTY DEVELOPMENT PRIVATE LIMITED, classified as Non PSU, plays an essential role in the market despite some details such as sector, industry, and issuer nature not being explicitly provided. Key identifiers like the Corporate Identification Number (CIN) U45309MH2019PTC320465 further bolster its credibility. With a coupon rate of 5.5, this instrument has been meticulously managed with the assistance of Link Intime India Private Limited,Mumbai and under the oversight of Catalyst Trusteeship Limited (Formerly GDA Trusteeship Limited), ensuring a strong operational framework. Examining the technical specifications, the bond’s face value is 100000 with an issue size of 640. It was allotted on 7/23/2024 and is scheduled for redemption on 7/23/2028. Categorized under "PLAIN VANILLA DEBENTURES" and defined as Secured, the instrument is structured to meet specific investment objectives. Although options such as call or put are not applicable in this instance, the core attributes remain detailed and robust. A critical element in evaluating any fixed income instrument is its credit rating. No credit rating information is available for this bond. This insight helps potential investors understand that while the ratings spectrum is broad, a lower rating can indicate higher risk, prompting careful consideration before investing. The security measures add another layer of assurance. The asset cover is described as follows: first ranking exclusives pledge over 100% of present future equity shareholding of the Company held by Shapoorji Pallonji Real Estate Private Limited SPRE and Instant Karmaa Properties Private Limited and a first ranking exclusive charge over the receivable Kavinam as defined in the Debenture Trust Deed, in accordance with pledge and charge agreement to be executed between inter alia the company, SPRE and the debenture Trustee as amended or amended and restated from time to time. – a feature that, while requiring further inquiry for complete details, underscores the issuer’s commitment to providing some level of investor protection. Furthermore, the bond is supported by several documents. There are no additional documents available for this bond. These documents serve as a reference for additional details and provide transparency to interested parties. Additionally, there are similar bonds in the market such as the bond with ISIN INE0XKL07023 having a coupon rate of N/A. Such comparable instruments offer a broader perspective on market positioning and allow investors to perform benchmark analysis. This detailed description is crafted to meet rigorous content standards and to offer exhaustive insights into every facet of the bond’s structure. Investors, analysts, and researchers alike can derive substantial value from this narrative, which underscores both the instrument’s inherent characteristics and its broader market positioning. Such elaborate coverage enhances investor confidence by providing a rich, comprehensive content base. Every element from issuance details to security measures and comparative insights is meticulously presented to facilitate an informed and robust market understanding.