Advisory role taken by KNM & Partners for Saya Hi-Tech in ₹175 crore Non-Convertible Debenture (NCD) placement
In a significant move, Saya Hi-Tech, a subsidiary of the Saya Group, has successfully issued listed, secured, redeemable, non-convertible debentures (NCDs) aggregating ₹175 crore. This transaction was facilitated by KNM & Partners, who provided comprehensive advice and guidance throughout the process.
KNM & Partners, a reputable law firm, advised Saya Hi-Tech on all aspects of the tech transaction. Their role included structuring, document review and negotiation, and coordination with intermediaries. They ensured smooth execution, compliance, and completion of the issuance and listing process.
The NCDs were listed on the Bombay Stock Exchange, marking a significant milestone for Saya Hi-Tech. The transaction involved the drafting, negotiation, and execution of the Debenture Trust Deed and related financing and security documents. KNM & Partners reviewed, negotiated, and finalised these tech-related documents.
ICICI Securities Limited provided advisory services for the issuance of the INR 175 crore rated, listed, secured, redeemable, non-convertible debt securities on a private placement basis by Saya Hi-Tech Private Limited.
In addition to their advisory role, KNM & Partners also ensured regulatory compliance under the Companies Act, 2013 and the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. This underscores their commitment to maintaining the highest standards of legal and regulatory compliance in the tech industry.
This successful debt financing marks a significant step forward for Saya Hi-Tech and the Saya Group. It demonstrates their ability to secure substantial funding and their strategic approach to financial management in the tech sector. With KNM & Partners' guidance, they have navigated the complexities of tech debt financing with ease, setting a strong foundation for future growth.
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