BSE : Update regarding debt securities of Sattva Holding and Trading Private Limited

NOTICES

Notice No.		20221209-40		Notice Date		09 Dec 2022
Category		Company related		Segment		Debt
Subject		Update regarding debt securities of Sattva Holding and Trading Private Limited
Content

In continuation to the Exchange Notice No. 20220203-20 dated 03 February 2022, regarding debt securities of Sattva Holding and Trading Private Limited, Trading Members are requested to note that w.e.f. Monday, December 12, 2022 the following Scrip Code bearing the following ISIN would be available for trading under the revised terms as below:

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Scrip Code:959251 ISIN:INE03CX07018<_o3a_p>

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Sr no	Title<_o3a_p>	Existing<_o3a_p>	Revised Terms<_o3a_p>
1.<_o3a_p>	The definition of the term 'Amendment Letter 3' shall be inserted after the definition of the term 'Amendment Letter 2' in Section 1 (Definitions and Abbreviations) of the Information Memorandum and shall read as follows<_o3a_p>	-<_o3a_p> <_o3a_p>	""Amendment Letter 3" shall collectively mean the request letter dated December 06, 2022 issued by the Issuer, read with the letter dated December 06, 2022 issued by the Debenture Holder and the letter dated December 06, 2022 issued by the Debenture Trustee confirming and providing their consent to the terms of amendment as set out under the request letter dated December 06, 2022 issued by the Issuer."<_o3a_p>
2.<_o3a_p>	The definition of the term 'Record Date' in Section 1 (Definitions and Abbreviations) of the Information Memorandum shall be deleted in its entirety and replaced with the following<_o3a_p>	The date which will be used for determining the Debenture Holders who shall be entitled to receive the amounts due on any Due Date, which shall be the date falling 15 (Fifteen) days prior to any Due Date.<_o3a_p>	""Record Date" - The date which will be used for determining the Debenture Holders who shall be entitled to receive the amounts due on any Due Date, which shall be the date falling 2 (Two) calendar days prior to any Due Date"<_o3a_p> <_o3a_p>
3<_o3a_p>	The section titled "Redemption Date / Maturity Date and Early Redemption Date" under paragraph 5.23 in Section 5, (Issue Details) of the Information Memorandum shall be deleted in its entirety and replaced with the following<_o3a_p>	February 03, 2023 being 36 (Thirty-Six) months from the Deemed Date of Allotment (after taking into account adjustments for Business Day Convention).<_o3a_p> <_o3a_p> The Company shall ensure that at least 10 (Ten) calendar days prior to the scheduled Maturity Date or the relevant Call Option Date / Put Option Date, as the case may be, the Company funds the Designated Account, with the Redemption Amount which is due and payable to the Debenture Holders on the Maturity Date or the relevant Call Option Date / Put Option Date, as the case may be, or the Company shall redeem the Debentures in the manner set out below.<_o3a_p> <_o3a_p> The Company shall have the option to redeem the Debentures ("Early Redemption Option") on the date falling 10 (Ten) calendar days prior to the scheduled Maturity Date or the relevant Call Option Date / Put Option Date, if the Call Option or the Put Option has been exercised, ("Early Redemption Date"), subject to the terms and conditions hereinafter appearing.<_o3a_p> <_o3a_p> a For the purposes of exercising the Early Redemption Option, the Company will have to comply with the following: <_o3a_p> <_o3a_p> (i) The Company shall provide a notice in writing to the Debenture Trustee at least 3 (Three) Business Days prior to the Early Redemption Date, confirming its intention to exercise the Early Redemption Option;<_o3a_p>(ii) On the Early Redemption Date, the Company shall make payment to the Debenture Holders in respect of each Debenture held by them, the following monies: (i) face value of the said Debenture; (ii) Redemption Premium due on the said Debenture; and (iii) any other amounts due and payable to the Debenture Holder in respect of the said Debenture in accordance with the terms of the Transaction Documents.<_o3a_p> <_o3a_p> a For the sake of abundant caution, it is clarified that the Company shall not be required to make payment of any prepayment premium or penalty for redeeming the Debentures pursuant to exercise of the Early Redemption Option. <_o3a_p> <_o3a_p>	The Company shall be entitled to prepay or redeem the Debentures (or any part thereof) prior to its scheduled term upon obtaining the prior written consent of the Debenture Trustee and Debenture Holders, on such terms and conditions as may be mutually agreed upon amongst the Parties.<_o3a_p>
4<_o3a_p>	The section titled "Record Date" under paragraph 5.23 in Section 5, (Issue Details) of the Information Memorandum shall be deleted in its entirety and replaced with the following<_o3a_p>	The date which will be used for determining the Debenture Holder(s) who shall be entitled to receive the amounts due on any Due Date, which shall be the date falling 15 (Fifteen) calendar days prior to any Due Date.<_o3a_p>	The date which will be used for determining the Debenture Holder(s) who shall be entitled to receive the amounts due on any Due Date, which shall be the date falling 2 (Two) calendar days prior to any Due Date<_o3a_p>
5<_o3a_p>	The section titled "Record Date" under paragraph 7.28 in Section 7, (Other Information and Application Process) of the Information Memorandum shall be deleted in its entirety and replaced with the following<_o3a_p>	Record Date<_o3a_p> <_o3a_p> The Record Date will be 15 (fifteen) days prior to any Due Date.<_o3a_p> <_o3a_p>	"Record Date<_o3a_p> <_o3a_p> The Record Date will be 2 (Two) calendar days prior to any Due Date."<_o3a_p> <_o3a_p>
6<_o3a_p>	The definition of the term 'Amendment Letter 3' shall be inserted after the definition of the term 'Amendment Letter 2' in in Clause 1.1 of the Debenture Trust Deed and shall read as follows<_o3a_p>	-<_o3a_p>	""Amendment Letter 3" shall collectively mean the request letter dated December 06, 2022 issued by the Issuer, read with the letter dated December 06, 2022 issued by the Debenture Holder and the letter dated December 06, 2022 issued by the Debenture Trustee confirming and providing their consent to the terms of amendment as set out under the request letter dated December 6, 2022 issued by the Issuer."<_o3a_p> <_o3a_p>
7<_o3a_p>	The definition of the term 'Record Date' in Clause 1.1(tt) of the Debenture Trust Deed shall be deleted in its entirety and replaced with the following<_o3a_p>	"Record Date" shall mean in relation to any Due Date, the day falling 15 (Fifteen) days prior to such date, which date shall be taken for determining the Debenture Holders who are entitled to receive payment on the Due Date.<_o3a_p> <_o3a_p>	""Record Date" shall mean in relation to any Due Date, the day falling 2 (Two) calendar days prior to such date, which date shall be taken for determining the Debenture Holders who are entitled to receive any payment on the Due Date."<_o3a_p> <_o3a_p>
8<_o3a_p>	Paragraph 5 (Redemption) under the First Schedule of the Debenture Trust Deed shall be deleted in its entirety and replaced with the following<_o3a_p>	5. Redemption <_o3a_p> <_o3a_p> The Debentures issued pursuant to this Deed have a fixed Maturity Date, subject to the exercise of the Put Option or Call Option detailed below. The Debentures shall be taken as fully redeemed on payment of the Redemption Amount,Default Interest, if any, and all other costs and expenses incurred by the Debenture Holders / Debenture Trustee. Such payment will be a legal discharge of the liability of the Company towards the Debenture Holders. The Principal Amount for each Debenture shall be equal to the face value of the said Debenture.<_o3a_p> <_o3a_p> The Company shall ensure that at least 10 (Ten) calendar days prior to the scheduled Maturity Date or the Exercise Date, as the case may be, the Company funds the Designated Account, with the Redemption Amount which is due and payable to the Debenture Holders on the Maturity Date or the Exercise Date, as the case may be, or the Company shall redeem the Debentures in the manner set out in Paragraph 8.2herein.<_o3a_p> <_o3a_p>	"5. Redemption <_o3a_p> <_o3a_p> The Debentures issued pursuant to this Deed have a fixed Maturity Date, subject to the exercise of the Put Option or Call Option detailed below. The Debentures shall be taken as fully redeemed on payment of the Redemption Amount, Default Interest, if any, and all other costs and expenses incurred by the Debenture Holders / Debenture Trustee. Such payment will be a legal discharge of the liability of the Company towards the Debenture Holders. The Principal Amount for each Debenture shall be equal to the face value of the said Debenture.<_o3a_p> <_o3a_p> The Company shall ensure that at least 2 (Two) calendar days prior to the scheduled Maturity Date or the Exercise Date, as the case may be, the Company funds the Designated Account, with the Redemption Amount which is due and payable to the Debenture Holders on the Maturity Date or the Exercise Date, as the case may be, or the Company shall redeem the Debentures in the manner set out in Paragraph8.2herein."<_o3a_p> <_o3a_p>
9<_o3a_p>	Paragraph 7 (Early Payment) under the First Schedule of the Debenture Trust Deed shall be deleted in its entirety and replaced with the following<_o3a_p>	7. Early Payment<_o3a_p> <_o3a_p> 7.1 The Company shall not be entitled to prepay or redeem the Debentures (or any part thereof) prior to its scheduled term without obtaining the prior written consent of the Debenture Trustee other than pursuant to the exercise of the Put Option or the Call Option or as set out hereinafter.<_o3a_p> <_o3a_p> 7.2 The Company shall have the option to redeem the Debentures ("Early Redemption Option") on the date falling 10 (Ten) calendar days prior to the scheduled Maturity Date or the Exercise Date, if the Call Option or the Put Option has been exercised, ("Early Redemption Date"), subject to the terms and conditions hereinafter appearing.<_o3a_p> <_o3a_p> (a) For the purposes of exercising the Early Redemption Option, the Company will have to comply with the following: <_o3a_p> <_o3a_p> (i) The Company shall provide a notice in writing to the Debenture Trustee at least 3 (Three) Business Days prior to the Early Redemption Date confirming its intention to exercise the Early Redemption Option;<_o3a_p> <_o3a_p> (ii) On the Early Redemption Date, the Company shall make payment to the Debenture Holders in respect of each Debenture held by them, the following monies: (i) face value of the said Debenture; (ii) Redemption Premium due on the said Debenture; and (iii) any other amounts due and payable to the Debenture Holder in respect of the said Debenture in accordance with the terms of the Transaction Documents.<_o3a_p> <_o3a_p> (b) For the sake of abundant caution, it is clarified that the Company shall not be required to make payment of any prepayment premium or penalty for redeeming the Debentures pursuant to exercise of the Early Redemption Option.<_o3a_p>	"7. Early Payment<_o3a_p> <_o3a_p> The Company shall be entitled to prepay or redeem the Debentures (or any part thereof) prior to its scheduled term upon obtaining the prior written consent of the Debenture Trustee and Debenture Holders, on such terms and conditions as may be mutually agreed upon amongst the Parties."<_o3a_p>

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CASHFLOW SCHEDULE<_o3a_p>

Principal per debenture<_o3a_p>	XIRR (Put / Call Date)<_o3a_p>	XIRR (Assumption till Maturity)<_o3a_p>	No. of Debentures<_o3a_p>	198<_o3a_p>
	Up to 05-Feb-21<_o3a_p>	From 5th Feb 2021 till 4th Feb 2022<_o3a_p>	From 4th Feb 2022 till 3rd Feb 2023<_o3a_p>
1,00,00,000<_o3a_p>	9.50%<_o3a_p>	7.00%<_o3a_p>	6.35%<_o3a_p>
<_o3a_p>	<_o3a_p>	<_o3a_p>	Accrued Premium at the end of 1st Year<_o3a_p>
<_o3a_p>			Wednesday<_o3a_p>	05-Feb-20<_o3a_p>	-1,00,00,000<_o3a_p>
<_o3a_p>			Friday<_o3a_p>	05-Feb-21<_o3a_p>	1,09,52,723<_o3a_p>
<_o3a_p>					9.5000%<_o3a_p>
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Total accrued amount till 05th February, 2021, per debenture<_o3a_p>				1,09,52,723<_o3a_p>
Accrued Redemption Premium, per debenture<_o3a_p>				9,52,723<_o3a_p>
Total Amount<_o3a_p>					2,16,86,39,148<_o3a_p>
<_o3a_p>	<_o3a_p>	<_o3a_p>	Accrued Premium at the end of 2nd Year<_o3a_p>
<_o3a_p>			Friday<_o3a_p>	05-Feb-21<_o3a_p>	-1,09,52,723<_o3a_p>
<_o3a_p>			Friday<_o3a_p>	04-Feb-22<_o3a_p>	1,17,17,241<_o3a_p>
<_o3a_p>					7.0000%<_o3a_p>
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Total accrued amount till 04th February 2022, per debenture<_o3a_p>				1,17,17,241<_o3a_p>
Accrued Redemption Premium, per debenture<_o3a_p>				17,17,241<_o3a_p>
Total Amount<_o3a_p>					2,32,00,13,796<_o3a_p>
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<_o3a_p>	<_o3a_p>	<_o3a_p>	Accrued Premium at the end of Maturity assuming current rate<_o3a_p>
<_o3a_p>			Friday<_o3a_p>	04-Feb-22<_o3a_p>	-1,17,17,241<_o3a_p>
<_o3a_p>			Monday<_o3a_p>	02-Jan-23<_o3a_p>	1,23,92,117<_o3a_p>
<_o3a_p>					6.3500%<_o3a_p>
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Total accrued amount till 02 Jan 2023, per debenture<_o3a_p>				1,23,92,117<_o3a_p>
Redemption Premium, per debenture<_o3a_p>					23,92,117<_o3a_p>
Total Amount Payable<_o3a_p>	<_o3a_p>	<_o3a_p>			2,45,36,39,188<_o3a_p>

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Trading Members may contact the following Officials for further details if any:<_o3a_p>

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Name of the Officer<_o3a_p>	Contact details<_o3a_p>	Email Id<_o3a_p>
Mr. Akshay Arolkar<_o3a_p>	[phone]<_o3a_p>	[e-mail]<_o3a_p>

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Rupal Khandelwal<_o3a_p>

Assistant General Manager<_o3a_p>

December 09, 2022<_o3a_p>

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