M.V.K. Agro Approves Rs 75 Crore Secured NCD Issue On Private Placement

Board approved up to Rs 75 Cr secured listed rated redeemable NCDs (7,500 x Rs 1 lakh) via private placement in tranches, tenor up to 30 months for BSE listing. First large market borrowing since listing; step change for a highly levered, creditor-funded balance sheet with thin cover. Likely tied to delayed fuel-integration build, though use not stated. Raises leverage and servicing risk; coupon, pricing, security, rating and use of proceeds left to new committee and offer docs. Trustee Mitcon Credentia appointed.