8% Ashok Leyland Limited - AA Rated (INE208A07380)

Ashok Leyland Limited, a Commercial Vehicles company, has floated Debenture, having ISIN value as INE208A07380, with a face value of ₹10,00,000 rs on 19May20 to raise 400 crores. The debt instrument is issued with a coupon rate of 8% and its interest is paid Annually. The returns are Taxable and one has to pay the applicable tax on the returns from this investment. As per the filings, the long description of this Secured Debenture is 8% SECURED, LISTED, RATED, SENIOR , REDEEMABLE, NON CONVERTIBLE, NON-CUMULATIVE, TAXABLE NON-CONVERTIBLE DEBENTURES. LETTER OF ALLOTMENT. SERIES- AL 23. DATE OF MATURITY 19/05/2023. This instrument is issued in Private Placement mode. It has Simple coupon type with Full Redemption option. The Debenture is listed on NSE stock exchange on 26May20. ICRA LIMITED has given AA rating to this Debenture on 12Oct23. Neither the Principal nor the Interest is covered for this Debenture. Yes, this debt instrument is Perpetual In Nature.