Force Motors Limited at its board meeting held on 12 February 2021, approved issue of unlisted, secured, rated, redeemable non-convertible debentures on private placement basis. The Debentures will not be listed on any stock exchange. Issue size is INR 1,900 million. Coupon rate is 5.85% per annum payable quarterly with first interest payment falling on 15 May 2021. Coupon type is fixed. Tenor is 4 years from the deemed date of allotment. Final redemption date is 15 February 2025. Redemption amount is INR 10,000,000 per debenture plus accrued interest in terms of the Debenture Trust Deed. Issue opening date and issue closing date and deemed date of allotment is 15 February 2021. Security is exclusive charge over specific movable fixed assets, with minimum cover being 1.25x.