Gaurs Group Files NCD Utilisation Report and Board Meeting Outcome with NSE Under SEBI LODR Regulations
Gaurs Group Files Debenture Compliance Disclosures with NSE
Gaurs Group's holding company Gaursons India has filed post-issuance statutory disclosures on the National Stock Exchange (NSE) relating to its listed non-convertible debentures (NCDs). The filings were submitted on March 18, 2026, and include disclosures mandated under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations.
Scope of Filings
The disclosure submission includes four components: a utilisation-of-proceeds report under Regulation 52(7) of SEBI LODR, a security cover certificate under Regulation 54, general disclosures under Regulation 52(4), and the outcome of the board meeting dated March 18, 2026. Issuers of non-convertible securities must submit statements indicating utilisation of issue proceeds and any material deviations from stated use, within 45 days from the end of every quarter, now aligned with quarterly financial results submission.
Background on the NCD Issuance
In December 2025, Gaurs Group completed its first public issuance of non-convertible debentures, raising Rs 440 crore, fully subscribed by three leading mutual funds in the country. Kotak Mahindra Bank served as the sole arranger for the transaction.
The proceeds were earmarked for the group's business requirements, including land acquisition, construction and project execution, repayment of higher-cost borrowings, and general corporate purposes. Since the funds were raised at the holding company level, they provide liquidity and financial flexibility to the group's operating subsidiaries.
Developer Scale and Market Position
Gaurs Group was founded by Banwari Lal Gaur in 1995 and operates across Noida, Ghaziabad, Greater Noida, and Yamuna Expressway, with Manoj Gaur as Managing Director and Sarthak Gaur as Director. The group has delivered 65+ residential and commercial projects in Delhi-NCR, with ongoing developments in Greater Noida West, Ghaziabad, and along Yamuna Expressway.
The group's commercial portfolio includes Gaur City Mall and Gaur Central Mall with approximately 92 percent occupancy as of June 2025, with combined leasable area of 1.04 million square feet estimated to generate annualised rentals of Rs 130 to 135 crore.
Institutional Confidence
The successful subscription of the NCD issue underscores the group's financial resilience and its growing credibility with institutional investors. Few non-listed real estate companies in India have successfully raised capital through listed debentures with participation from multiple mutual funds, reflecting institutional confidence in the group's financial discipline and operating track record.