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GP Petroleums to Raise Rs 130 Crore via NCDs, OCDs for Growth Expansion
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News18•02-10-2026, 19:15
GP Petroleums to Raise Rs 130 Crore via NCDs, OCDs for Growth Expansion
- •GP Petroleums' board approved a plan to raise up to Rs 130 crore through Non-Convertible Debentures (NCDs) and Optionally Convertible Debentures (OCDs).
- •The funds will be utilized for ongoing business expansion and working capital requirements, supporting the growth of the IPOL brand of lubes.
- •The company will issue 300 NCDs worth Rs 30 crore for 36 months and 1,000 OCDs worth Rs 100 crore for 18 months, each with a face value of Rs 10 lakh.
- •Both instruments will be issued to RevX Special Credit Opportunities Fund II on a private placement basis, with the OCD issue subject to shareholder approval.
- •The NCDs and OCDs carry a coupon rate of 13 percent per annum, compounded monthly and paid quarterly, with an additional 1.5 percent coupon on the deemed allotment date.
Key Questions Answered
GP Petroleums Ltd plans to raise up to Rs 130 crore by issuing non-convertible debentures (NCDs) and optionally convertible debentures (OCDs) to accelerate its growth and fund expansion.
Both the non-convertible debentures and optionally convertible debentures will be issued to RevX Special Credit Opportunities Fund II on a private placement basis.
The NCDs and OCDs carry a coupon rate of 13 percent per annum, which is compounded monthly and paid quarterly.
