Tarc Projects Limited
ACTIVE
ISIN: INE01ZN07014
Issuer Details
Issuer Name
TARC PROJECTS LIMITED
Type of Issuer
Non PSU
Sector
Realty
Coupon Rate
12.75%
Industry
Realty
Issuer nature
Other
Corporate Identity Number (CIN)
U70109DL2006PLC154354
Name of the Lead Manager
-
Registrar
Skyline Financial Services P...
Name of Debenture Trustee
Catalyst Trusteeship Limited...
Instrument Details
Instrument name as on NSDL
12.75% SECURED UNRATED UNLIS...
Face Value (in ₹)
100000
Total Issue size( in ₹ Cr.)
75
Category of Instrument
PLAIN VANILLA DEBENTURES
Allotment Date
27-09-2024
Redemption Date
30-09-2029
Whether Secured or Unsecured
Secured
Put Option Date
-
Call Option Date
-
Seniority in Repayment
Senior
Security Measures
Asset Coverage
Principal + Interest
Asset Percentage
1.75%
Details of Asset Cover
first ranking charge by way of pledge to be created by TL, Mr. Anil Sarin, Mrs. Sharda Sarin, Mr. Amar Sarin, Mr. Rajeev Trehan, Mr. Anil Mahindra and Mr. Sudhir Saini over such number of fully paid up equity shares of EBL, collectively constituting 100 percent of the share capital of EBL and all the rights, title, interest, benefits, claims and demands in favour of the Common Security Trustee
Asset Type
Details of the security
Others, Please Specify
an unconditional and irrevocable personal guarantee by Mr. Amar Sarin to be issued / provided in favour of the Common Security Trustee
Others, Please Specify
an unconditional and irrevocable lien marking in to be created by the Company, over certain fixed deposits of the Company held with Kotak Mahindra Bank Limited, collectively aggregating to the debt service reserve amount for the Debentures
Immovable Assets
first ranking pari passu equitable mortgage to be created by Echo Buildtech Limited (EBL) over all the rights, title, interests and receivables of EBL arising out of, under and from the land admeasuring 2.95 acres situated at Main Bijwasan Road, Delhi 110037 belonging to EBL along with all structures constructed/to be constructed on the land for the project known as Tarc Tripundra in favour of the Common Security Trustee
Current Assets
first ranking pari passu charge by way of hypothecation to be created by the Company, over (i) all cash flows (present and future) of the Issuer arising from/in relation to the Kailasa Project and/or entire entitlement of the Issuer in the Kailasa Project and/or the Kailasa Project land (ii) the relevant escrow accounts of the Issuer in relation to the Kailasa Project and all the monies lying to the credit of such accounts in favour of the Common Security Trustee
Others, Please Specify
an unconditional and irrevocable personal guarantee by Mr. Anil Sarin to be issued / provided in favour of the Common Security Trustee
Current Assets
first ranking pari passu charge by way of hypothecation to be created by EBL, over (i) all cash flows (present and future) of EBL arising from/in relation to the Tripundra Project and/or entire entitlement of EBL in the Tripundra Project and/or the Tripundra Project land (ii) the relevant escrow accounts of EBL in relation to the Tripundra Project and all the monies lying to the credit of such accounts in favour of the Common Security Trustee
Others, Please Specify
an unconditional and irrevocable corporate guarantee by TL to be issued/ provided in favour of the Common Security Trustee
Others, Please Specify
first ranking charge by way of pledge to be created by TL, Mr. Anil Sarin, Mrs. Sharda Sarin, Mr. Amar Sarin, Mr. Rajeev Trehan, Mr. Anil Mahindra and Mr. Sudhir Saini over such number of fully paid up equity shares of EBL, collectively constituting 100 percent of the share capital of EBL and all the rights, title, interest, benefits, claims and demands in favour of the Common Security Trustee
Others, Please Specify
first ranking pari passu charge by way of hypothecation to be created by TARC Limited (TL) over the relevant escrow accounts of TL in relation to the Facilities and all the monies lying to the credit of such accounts and all the rights, title, interest, benefit, claims, proceeds and demands whatsoever or any part thereof, (both present and future) of TL, in, to, under and/or in respect of the aforesaid assets in favour of the Common Security Trustee
Others, Please Specify
first ranking charge by way of pledge to be created by TL, Mr. Anil Sarin, Mrs. Sharda Sarin, Mr. Amar Sarin, Mrs. Muskaan Sarin, Mr. Rajeev Trehan and Mr. Anil Mahindra over such number of fully paid up equity shares of the Issuer, collectively constituting 100 percent of the share capital of the Issuer and all the rights, title, interest, benefits, claims and demands in favour of the Common Security Trustee
Immovable Assets
first ranking pari passu equitable mortgage to be created by the Issuer over all the rights, title, interests and receivables of the Issuer arising out of, under and from the land admeasuring 6.12 acres situated at Patel Road, Kirti Nagar, New Delhi 110015 belonging to the Issuer along with all structures constructed/to be constructed on the land for the project known as Tarc Kailasa in favour of the Common Security Trustee
Others, Please Specify
an unconditional and irrevocable corporate guarantee by EBL to be issued/ provided in favour of the Debenture Trustee
Others, Please Specify
such other security or contractual comfort as may be required in terms of the issuance and allotment of the Debentures
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About Tarc Projects Limited bond with ISIN: INE01ZN07014
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 INE01ZN07014, represents a significant financial instrument. Issued by TARC PROJECTS LIMITED, it comes with the following description: "12.75% SECURED UNRATED UNLISTED REDEEMABLE NON CONVERTIBLE DEBENTURES. DATE OF MATURITY 30/09/2029.". 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, TARC PROJECTS 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) U70109DL2006PLC154354 further bolster its credibility. With a coupon rate of 12.75, this instrument has been meticulously managed with the assistance of Skyline Financial Services Private Limited 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 75. It was allotted on 9/27/2024 and is scheduled for redemption on 9/30/2029. 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 charge by way of pledge to be created by TL, Mr. Anil Sarin, Mrs. Sharda Sarin, Mr. Amar Sarin, Mr. Rajeev Trehan, Mr. Anil Mahindra and Mr. Sudhir Saini over such number of fully paid up equity shares of EBL, collectively constituting 100 percent of the share capital of EBL and all the rights, title, interest, benefits, claims and demands in favour of the Common Security Trustee – 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 INE005X08018 having a coupon rate of 9% and the bond with ISIN INE002Z08077 having a coupon rate of N/A and the bond with ISIN INE0NO807016 having a coupon rate of 16% and the bond with ISIN INE003S07247 having a coupon rate of 9.3%. 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.