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The Debentures are Unsecured in nature. The value of assets being offered may be less than one hundred per cent of the amounts payable towards the principal amount of the NCDs together with all the interest/coupon due and payable on the NCDs, as well as costs, charges, all fees, remuneration of Debenture Trustee and expenses payable in respect thereof. However, under the Structured Payment Mechanism stated in the Term Sheet, the Debenture Trustee on behalf of the Debenture holders shall have a charge over the following: a) First pari passu charge by way of hypothecation over present and future receivables pertaining to entire own revenues/cash flows of the Corporation; (b) First pari passu charge over the Escrow Account and the account(s) where the entire own revenues/cash flows are collected and/ or pooled by Nashik Municipal Corporation (collection account(s)), in each case to the extent of the own revenues/cash flows gets collected and/ or pooled in each of such accounts; ‘Own Revenues/Cash flows’ here shall mean the revenues/cash flows being directly levied and collected/recovered by the Issuer and not being the revenues/cash flows received from the Government in the form of Grants, contributions & subsidies, assigned revenues & compensations or others. The revenues/cash flows being directly levied and collected/recovered by the Issuer include Tax Revenue, Fees, User Charges and Fines, Income from Investments, Interest Earned, Other Income, Rental Income from Municipal Properties, Sale & Hire Charges and such other Incomes. (c) First and exclusive charge over the Interest Payment Account- II (including the DSRA Amount), Upfront FD-2, Sinking Fund Account-II being opened for the issue, the funds lying in each such account and any investment(s) made from these account(s); (d) Exclusive charge over the investments made in terms of paragraph 10 and paragraph 11 under the head of term ‘Structured Payment Mechanism’ below (“Permitted Investment(s)”). |
| Issue Details |
| Issue Open |
25-Feb-2026-02-Mar-2026 |
| Security Name |
NASHIK MUNICIPAL CORPORATION |
| Security Type |
Un-Secured Redeemable Non-Convertible Debentures |
| Issue Size (Base) .Cr |
100 |
| Over subscription |
A GREEN SHOE OPTION OF UP TO RS 100 CRORE (RUPEES ONE HUNDRED CRORE ONLY) ("GREEN SHOE OPTION") FOR AN AMOUNT AGGREGATING UP TO RS 200 CRORES. |
| Issue Price |
125 |
| Face Value |
125 |
| Market Lot |
1 |
| Credit Rating |
IND AA+/Stable by IRRPL and CRISIL AA+/Stable by CRISIL. |
| Tenor |
3 Years,4 Years,5 Years,6 Years,7 Years,8 Years,9 Years,10 Years |
| Series |
Series1,Series2,Series3,Series4,Series5,Series6,Series7,Series8 |
| Payment Frequency |
Half Yearly |
| Objects of the Issue: |
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PUBLIC ISSUE BY NASHIK MUNICIPAL CORPORATION ("ISSUER"/ "CORPORATION"/ "NMC") OF UP TO 2000000 (TWENTY LAKHS) UNSECURED, RATED, LISTED, TAXABLE, REDEEMABLE, NON-CONVERTIBLE GREEN MUNICIPAL BONDS IN THE NATURE OF DEBENTURES, OF FACE VALUE OF RS. 1000 (RUPEES ONE THOUSAND ONLY) ("GREEN BONDS"/ "BONDS"/ "NCDS"/ "DEBENTURES") COMPRISING OF 8 (EIGHT) SEPARATELY TRANSFERABLE AND REDEEMABLE PRINCIPAL PARTS ("STRPPS") OF FACE VALUE OF RS 125 (RUPEES ONE HUNDRED TWENTY-FIVE) EACH, NAMELY STRPP A, STRPP B, STRPP C, STRPP D, STRPP E, STRPP F, STRPP G AND STRPP H FOR CASH FOR THE BASE ISSUE OF RS. 100 CRORE (RUPEES ONE HUNDRED CRORE ONLY) ("BASE ISSUE SIZE") WITH A GREEN SHOE OPTION OF UP TO RS 100 CRORE (RUPEES ONE HUNDRED CRORE ONLY) ("GREEN SHOE OPTION") FOR AN AMOUNT AGGREGATING UP TO RS 200 CRORES. |
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| Lead Managers |
| 1. A.K. Capital Services Limited |
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| Registrar to the Issue |
| 1. PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED |
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