2010-11 - Grasim

UltraTec
ech Cement Limited
SCHEDULE 21 (Contd.)
7. Secured Loans:
(a) Non-Convertible Debentures (NCDs)
` in Crores
Previous Year
2010-11 2009-10
(i)
Fixed Rate Non-Convertible Debentures (NCDs)
1. 8.25% NCDs(Redeemable at par on September 2, 2012) 65.00 65.00
2. 8.30% NCDs(Redeemable at par on September 2, 2012) 25.00 25.00
3. Step up interest NCDs(Redeemable at par on September 16, 2012) 25.00 25.00
4. 6.65% NCDs(Redeemable at par on April 30, 2013) 5.00 5.00
5. 10.525% NCDs(Redeemable at par on August 21, 2013, Put and
Call Option exercisable to both parties on August 22, 2011)
200.00 200.00
6. 10.48% NCDs*(redeemable at par on December 16, 2013) 200.00 -
7. 8.80% NCDs*(redeemable at par on December 30, 2015, Put and
Call Option exercisable to both parties on December 30, 2013)
8. 8.01% NCDs*(redeemable at par on July 14, 2016, Put and Call
Option exercisable to both parties on July 14, 2014)
100.00 -
200.00 -
(ii) Floating Rate ate Non-Convertible Debentures
1. MIBOR Linked NCDs(Redeemable at par on May 13 ,2011) 200.00 200.00
(iii) Discounted Value Non-Convertible Debentures
1. Issued as zero coupon at yield to maturity of 6.80%
(Carrying amount ` 17.44 crores, previous year ` 16.33 Crores, 20.00 20.00
Redeemable at par on April 30, 2013)
* Transferred pursuant to Scheme of Amalgamation of SCL with the Company
The Company retains the option to purchase the Non-Convertible Debentures in the secondary
market, and cancel, hold, or reissue the same at such price and on such terms as the Company
may deem fit or as permitted under the Company Law. Non-Convertible Debentures repurchased
have not been kept alive for reissuance as at March 31, 2011.
The Non-Convertible Debentures are secured by way of first charge, having pari passu rights, on
the movable and immovable properties situated at certain locations of the Company (save and
except book debts and inventories).
(b) Foreign Currency rency Loans
The foreign currency loans of ` 1,095.46 Crores (Previous Year ` 285.16 Crores) are secured
by way of first charge, having pari passu rights, on the Company’s movable and immovable
assets situated at certain locations of the company (save and except book debts and
inventories). Security creation is pending for loan availed from HSBC Bank (Mauritius) Limited,
Mauritius (Facility amount USD 5 Crores; Amount availed till March 31, 2011 USD 1 Crore).
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