Notice No.   20200630-19   Notice Date   30 Jun 2020
Category   Company related   Segment   Debt
Subject   Update regarding debt securities of Asirvad Microfinace Limited


In continuation to the Exchange Notice No. 20170328-34 dated 28 March 2017 regarding debt securities of Asirvad Microfinance Limited, Trading Members are requested to note the below changes for following Scrip Code bearing the following ISIN would be available for trading under the revised terms as below w.e.f. Wednesday 01 July 2020.



Scrip Code: 955963/ ISIN: INE516Q08174


Removal of a Step-Up clause from the Transaction Documents in relation to the Debentures, with a view to reflect the altered commercial understanding between the parties by mutual agreement pursuant to an indicative term-sheet dated March 14, 2017.



Existing Term

Revised Term

Point 2.5A – Step Up

(a) If the rating of the Company is downgraded below “A+” by one or more notches after the expiry of 12 (Twelve) months from the deemed date of allotment (“Rating Downgrade”), the coupon rate shall be increased by 0.25% (Zero Decimal Two Five percent) per annum for every notch downgrade (“Step up”) and such increased Coupon Rate (i.e. sum of existing Coupon Rate + the Step Up) (the “Step Up Rate) shall be applicable on the outstanding Principal Amounts from the date of such downgrade until the date the rating is restored to at least “A+”

(b) In the event, company is rated by one or more rating agencies, registered with SEBI, for the purpose of sub-clause (a), the lowest rating obtained shall be considered.

Covenant Removed



Trading Members may contact the following Officials for further details if any:


Name of the Officer

Contact details

Email Id

Ms. Ishwari Vaidya

+91 22 2272 8597



Rupal Khandelwal


June 30, 2020