BLUECOAST: DISCLOSES ₹14.52 CR DEFAULT ON REDEEMABLE

BLUECOAST: DISCLOSES ₹14.52 CR DEFAULT ON REDEEMABLE PREFERENCE SHARES

• Default occurred on 30 October 2026 on 0.01% Redeemable Preference Shares (ISIN: INE472B04015) issued to promoter body corporates • Current default amount stands at ₹14.52 Cr, comprising ₹9.67 Cr principal and ₹4.85 Cr dividend • 11 holders held the security as of the default date; the instrument is unsecured, with a final redemption date of 30 October 2032 • Total financial indebtedness stands at ₹34.57 Cr, excluding the dividend amount • Coupon on the outstanding RPS was reduced from 10% to 0.01% p.a. on 28 September 2024, while part of the RPS was converted into equity in stages through May 2026 Impact: Negative — The default on promoter-held preference shares is a clear liquidity and credit-quality concern. While the instrument is unsecured and its final redemption is due in 2032, the immediate payment default raises questions around the company's ability to meet financial obligations and warrants close monitoring of any restructuring or repayment action.