SNG & Partners Represented Investors And Debenture Trustee On ₹500 Crore NCD Issuance By Lodha Developers
SNG & Partners Represented Investors And Debenture Trustee On ₹500 Crore NCD Issuance By Lodha Developers
SNG & Partners represented the investors and the debenture trustee in connection with the issuance of rated, listed, senior, secured, redeemable, taxable, and transferable non-convertible debentures (NCDs) aggregating to ₹500 crore by Lodha Developers Limited.
The NCDs were issued in two tranches comprising (i) 20,000 debentures and (ii) 30,000 debentures of face value ₹1,00,000 each. The debentures were privately placed and subsequently listed on the stock exchange, marking a significant capital mobilisation by Lodha Developers.
SNG & Partners acted as legal counsel on all aspects of the transaction including structuring of the issuance, drafting, reviewing, and negotiating transaction documents, conducting legal due diligence, and ensuring regulatory compliance for successful listing.
Lodha Developers was represented by its in-house legal team.
Lodha Developers, formerly known as Macrotech Developers, is a leading player in India’s real estate sector with a robust portfolio spanning residential, commercial, and mixed-use developments in key urban markets including Mumbai, Pune, and Bangalore. The funds raised will be utilised towards capital expenditure, refinancing of existing debt, long-term working capital needs, and general corporate purposes, in line with the company’s strategy to optimise its capital structure and support future growth.
The transaction was led by Aditya Vikram Dua (Partner & Head – Financial Services), with assistance from Aniket Sawant (Associate Partner), Parvathi Menon (Senior Associate), Kartikeya Rao (Associate), and Prashant Dubey (Associate).
SNG & Partners had also represented the investors and the debenture trustee on a ₹300 crore NCD issuance earlier this year.
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