CHEMPLAST SANMAR LTD
Chemplast Sanmar Limited (“Chemplast”) completes early redemption of Redeemable Non-Convertible Secured Debentures (“NCDs”) using the IPO proceeds
Release of pledge over the shares of Chemplast Cuddalore Vinyls Limited (“CCVL”), the wholly owned subsidiary of Chemplast, consequent to the repayment of debt by Sanmar Engineering Services Limited (“SESL”)
Chemplast Sanmar Limited announced today that it has redeemed, on 31st August 2021, the entire outstanding NCDs that were issued in December 2019 by the Company.
The redemption of these NCDs amounting to Rs.1238.25 Crores, which was part of the Objects of the primary issue, was made using the net proceeds of fresh issue of equity shares of the Company (IPO) made in August 2021.
The company further announced that, using the net proceeds of the Offer for Sale (“OFS”), received by the Selling Shareholders Sanmar Holdings Limited and SESL, the term loan availed by SESL from HDFC Limited has been fully repaid.
Consequently, the security in respect of this loan, including the pledge over the equity shares of CCVL, the wholly owned subsidiary of Chemplast, has been fully released on 31st August 2021 by the Security Trustee.
With this, there is no pledge over the shares of CCVL held by the Company and the shares of Chemplast Sanmar Ltd held by the promoters.
HERO MOTOCORP SELLS 453,879 UNITS OF MOTORCYCLES & SCOOTERS IN AUGUST 2021
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, sold 453,879 units in August 2021.
In line with its enhanced focus on global markets, Hero MotoCorp further augmented its premium motorcycle portfolio in Bangladesh with the launch of Hero Hunk 150R in the month of August. Developed especially for the Bangladesh market, the premium Hunk 150R delivers an unparalleled experience with its new-age experience and riding style.
Hero MotoCorp is gearing up for the upcoming festive season, and with several positive indicators, such as the decent monsoon resulting in encouraging farm activity in most parts of the country, and the several government schemes in the social sector, the Company remains optimistic about demand in the coming months.
Also, with Covid- 19 vaccination gaining pace and last-mile retail opening up further, the numbers are expected to be positive in the coming months.
In keeping with its ongoing community outreach programs, Hero MotoCorp has partnered with the district administration in Haridwar to launch a vaccination drive for the public. As part of the initiative, 10,000 doses of Covid-19 vaccines will be administered in a phased manner to the people in the city.
Additionally, the Company has also provided two mobile vans - equipped with facilities such as wheelchair, stretcher and refreshment packets, etc. - that will help mobilize speciallyabled people to visit the nearest health centers to get vaccinated.
Hero MotoCorp celebrated its 10th anniversary by recording a GUINNESS WORLD RECORDS™ for creating the ‘Largest motorcycle logo’ with the world’s best-selling motorcycle Splendor+.
Press release to be qlven todav on the Bank ATl Bond lssuance
State Bank of lndia (SBl), the country's largest lender, has raised Rs 4,000 crore of the Basel cgmpliant Additional Tier 1 (AT1) bonds on Wednesday at coupon rate of 7.72 per cent. This is the first AT1 Bond issuance in the domestic market post the new SEBI regulations. The'issue attracted overwhelming response from investors with bids in excess of Rs. 10,000 crores received against a base issue size of Rs. 1,000 crores, which is an indicator of the trust the investors place on the country's largest Bank. This also very clearly demonstrates the maturity of the lndian lnvestors in their selection of lssuers for such instruments.
Based on the response, the Bank has decided to accept Rs. 4,000 crores at a coupo n of 7.72o/o, This is the lowest pricing ever offered on such debt, issued by any lndian bank since the implementation of Basel lll capital rules in 2013. The AT 1 instrument is perpetual in nature, however, it can be called back by the issuer after five years or any anniversary date thereafter
while the Bank has MA credit rating from domestic credit rating agencies, the AT1 offering is rated AA+, which is the highest rating in the country for these instruments, in view of the hybrid and high-risk nature of these instruments.