Peninsula Land Completes OCD Redemption, Investor Nominee Director Ceases
Peninsula Land Limited has announced the completion of the redemption of Tranche B Optionally Convertible Debentures (OCDs). The company redeemed 66,37,168 Tranche B OCDs, aggregating to ₹37,49,99,992...
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Why is Peninsula Land Limited in the news today?
Peninsula Land Limited (PENINLAND) is in the news due to the announcement details the completion of a financial obligation (ocd redemption) and a subsequent consequence (director's cessation). while it resolves a financial commitment, it does not inherently indicate positive or negative performance, making the sentiment neutral.
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Peninsula Land Completes OCD Redemption, Investor Nominee Director Ceases
December 23, 2025, 09:56 AM
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Peninsula Land Limited has announced the completion of the redemption of Tranche B Optionally Convertible Debentures (OCDs). The company redeemed 66,37,168 Tranche B OCDs, aggregating to ₹37,49,99,992, on December 23, 2025, in accordance with the OCD Subscription Agreement dated June 24, 2024. This redemption fulfills all obligations related to Tranche B OCDs.
Consequently, with the full redemption of all OCDs issued under the agreement, the investor, RE 2.0 Residential Opportunities Fund, will cease to have the right to appoint a Nominee Director on the Board. Accordingly, Mr. Hrishikesh Parandekar (DIN: 01224244) will cease to be a Director of the Company effective December 23, 2025, from the close of business hours.
This action follows the earlier redemption of Tranche A OCDs, which comprised 1,99,11,504 OCDs valued at ₹112,49,99,976, completed earlier as intimated on December 01, 2025. The company has also made the requisite disclosure as per SEBI regulations, and this information is available on the company's website.
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