Debt and Securities
Arihant Superstructures Clears Rs 75.34 Crore NCD Series and Frees Three Project Mortgages
Arihant Superstructures Limited completed full redemption of Rs 70 crore of secured non-convertible debentures on 23 October 2026, paying Rs 75.34 crore including interest and charges. The repayment released security held over three of the company's projects.
| Instrument redeemed | 70,00,000 unlisted, unrated, redeemable secured NCDs of Rs 100 face value each (Rs 70 crore) |
|---|---|
| Total amount paid | Rs 75.34 crore, including Rs 5.34 crore above face value for accrued interest and charges |
| Redemption completed | 23 October 2026 |
| Original deed | Debenture Trust Deed dated 2 April 2024 |
| Debenture trustee | IDBI Trusteeship Services Limited, which issued a No Due Certificate confirming release of the security |
| Investment manager and payee | ICICI Prudential Asset Management Company Limited, for the India Real Estate Investment Fund, which confirmed receipt of Rs 75.34 crore as full and final repayment |
| Projects with released security | Arihant Adarsh, Arihant Aaryan and Arihant Aaradhya |
| Share price on 21 October 2026 | Rs 207.50, down 10.27% from the previous close of Rs 231.25 |
What happened
Arihant Superstructures Limited has fully redeemed secured non-convertible debentures issued to the India Real Estate Investment Fund Series 2. The company paid a total of Rs 75.34 crore to the fund, completing the redemption on 23 October 2026.
The debentures had a face value of Rs 70 crore. The Rs 5.34 crore difference between the face value and the total payment covers accrued interest and charges.
Reports published on 23 October 2026 also said the mortgages over three of the company's projects had been released.
Who was involved
The debentures were issued under a Debenture Trust Deed dated 2 April 2024. IDBI Trusteeship Services Limited acted as debenture trustee and issued a No Due Certificate confirming that the security created in favour of the debenture holder had been released.
ICICI Prudential Asset Management Company Limited acts as investment manager for the fund. It confirmed receipt of Rs 75.34 crore towards full and final repayment of the debentures. Reports also name ICICI Prudential Asset Management Company as the party that formally released the mortgage charges.
What security was released
The security package covered first-ranking or pari-passu charges and mortgages on immovable properties, development rights, project receivables and escrow accounts linked to three projects:
- Arihant Adarsh
- Arihant Aaryan
- Arihant Aaradhya
With the release, these charges no longer sit over the three projects. Reports describe this as returning control of their receivables to the company and improving title clarity for the projects.
Context for investors
Arihant Superstructures is listed on BSE (506194) and NSE (ARIHANTSUP). It is headquartered in Navi Mumbai, Maharashtra, and was incorporated in 1983.
The shares closed at Rs 207.50 on 21 October 2026, down 10.27% from the previous close of Rs 231.25. The redemption was reported two days later. The reports do not present the two events as connected.
A filing dated 5 April 2024 reported an allotment of 45 lakh secured unlisted redeemable NCDs aggregating Rs 45 crore. That figure does not match the 70 lakh NCDs redeemed in October 2026, so the two should be treated as separate issues.
What it means for buyers and the market
The reports link the release to the company's control over its project receivables and to title clarity on the three projects. They do not describe changes to booking terms, prices or possession schedules.
For investors, the redemption removes a secured debt obligation and the charges that came with it. Any further financing that uses these projects as security will depend on the company's future arrangements.
Frequently asked questions
How much did Arihant Superstructures pay to redeem the NCDs?
The company paid a total of Rs 75.34 crore. This covers the Rs 70 crore face value of the debentures and Rs 5.34 crore for accrued interest and charges.
When was the redemption completed?
The redemption was completed on 23 October 2026.
Which projects had their mortgages released?
The reports name Arihant Adarsh, Arihant Aaryan and Arihant Aaradhya as the three projects whose security was released.
Who confirmed the payment and the release?
ICICI Prudential Asset Management Company Limited, the investment manager for the India Real Estate Investment Fund, confirmed receipt of Rs 75.34 crore. IDBI Trusteeship Services Limited, the debenture trustee, issued a No Due Certificate confirming the release of security.
Does this change anything for homebuyers?
The reports describe the release as improving title clarity and returning control of project receivables to the company. They do not describe changes to booking terms, prices or possession dates.
Is this the same as the 2024 NCD allotment?
A filing dated 5 April 2024 reported an allotment of 45 lakh NCDs aggregating Rs 45 crore. The October 2026 redemption covers 70 lakh NCDs of Rs 100 each, so the two are separate issues.