Cyient Limited has announced the execution of a binding term sheet with EAAA India Alternatives Limited and its wholly owned subsidiary, Cyient Semiconductors Private Limited. This agreement involves the issuance of non-convertible debentures (NCDs) and compulsorily convertible debentures and/or preference shares (CCD/CCPS) by Cyient Semiconductors, amounting to a total consideration of ₹300 crore.
The board of directors of Cyient approved this transaction during their meeting on 25 May 2026. The proposed transaction will see Cyient Semiconductors issue NCDs worth ₹200 crore and CCD/CCPS worth ₹100 crore to EAAA and/or funds managed or advised by EAAA, including any co-investors introduced by EAAA. This issuance will be conducted on a private placement basis.
In conjunction with the issuance, Cyient Limited will provide a corporate guarantee and pledge its shareholding in Cyient Semiconductors in favour of EAAA. This move is aimed at securing the obligations arising from the proposed issuance of NCDs by Cyient Semiconductors.
The board meeting, which commenced at 0745 hours and concluded at 0832 hours, also confirmed that there is no interest from the promoter or promoter group in this transaction, as Cyient Semiconductors is a wholly owned subsidiary of Cyient Limited.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).