Supreme Infrastructure India Approves Rs 75 Crore NCD Issue Against Bhiwandi Land

Board approved unlisted private NCD issue to INRE FUND II for up to Rs75 Cr (Annexure says Rs28 Cr), 366 days, 20% coupon on redemption, secured by Bhiwandi land for monetization. First borrowing days after claiming debt-free post settlement; high 20% cost with land pledge signals cash stress and re-leveraging, complicating restart and pre-qualification hopes. Re-levers balance sheet and encumbers Bhiwandi land; quantum mismatch, approvals pending, meeting still continuing, use of proceeds and charge terms undisclosed.