Essar Shipping Partially Redeems ₹1.44bn NCDs On February 26; Interest Outgo Of ₹108.05m

Essar Shipping Limited partially redeemed 14,442,000 secured non-convertible debentures, according to a Regulation 30 disclosure filed with the exchanges; the redemption was executed in accordance with the original terms of issue.

The company informed BSE and NSE on February 26, 2026, that it redeemed 1% Secured, Redeemable, Unlisted, Unrated, Non-Convertible Debentures (NCDs) with a face value of ₹100 each. The instruments had been issued to Abhinand Ventures Private Limited.

Redemption Details Under SEBI LODR

As per the intimation dated February 26, 2026, submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the tranche comprised 14,442,000 NCDs aggregating to a principal value of ₹1,444,200,000.

Total payout on the redemption stood at ₹1,552,247,922, which includes interest of ₹108,047,922. No premium was paid.

The redemption was partial in nature. An earlier tranche had been redeemed on January 30, 2026, as disclosed in Annexure I to the filing.

Post-transaction, 24,262,750 NCDs remain outstanding.

Under SEBI’s November 11, 2024 circular governing disclosures for debt securities, issuers are required to specify whether redemption is pursuant to maturity, call option or early buyback. The company marked this redemption as not applicable to those categories. No impact on the equity capital structure was reported.

Stock Market Snapshot

Share price of Essar Shipping Ltd were trading at ₹25.67 on the NSE at 11:48 IST on February 27, down ₹0.24 or 0.93% from the previous close of ₹25.91, according to exchange data.

The stock opened at ₹26.49 and touched a low of ₹25.56 so far. The 52-week range stands between ₹21.50 and ₹43.26. Market capitalisation was reported at ₹533.17 crore.

Company Background

Essar Shipping Limited operates in the shipping and logistics segment, with activities spanning crude oil and dry bulk transportation. The company’s listed equity trades under scrip code 533704 on BSE and symbol ESSARSHPNG on NSE.

The partially redeemed NCDs were unlisted and unrated, indicating private placement with identified investors rather than public issuance. Such instruments typically carry fixed coupon structures and defined redemption schedules under bilateral or privately negotiated documentation.

Conclusion

The February 26 redemption reduces the company’s outstanding NCD count to 24,262,750 units, with no stated alteration to share capital. Further redemptions, if any, would depend on the terms embedded in the debenture trust deed and repayment schedule.

Source:

https://nsearchives.nseindia.com/corporate/ESSARSHPNG_27022026002334_ESL_CA_Reg_30_NCD_Redemption_260226_signed.pdf