PE-VC Fund Investments
Autocomp maker Shivam Autotech raises Rs.32-Cr from Alpha Alternatives via NCDs
Gurugram-based publicly listed Shivam Autotech Ltd , which makes auto components, has raised INR 32 crore through private placement of non-convertible debentures (NCDs) from Alpha Alternatives (Indian Rupees Structured Credit Opportunities Fund).Shivam Autotech makes transmission gears and shafts for the automotive industry, specialising in advanced forging (hot, warm, cold) and precision machining to produce components.The funds are intended to strengthen the firm’s financial position and address its financial structure, specifically to manage short-term obligations and potentially invest in growth opportunities.The NCDs issued are secured, unlisted and redeemable, with a face value of INR 1,00,000 per NCD carrying an annual interest rate of 11.49%. The tenure is 36 months, including an 18-month moratorium.
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