AFIL allots 50,000 NCDs worth Rs 50 Cr via private placement
AFIL · price
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AFIL allotted 50,000 secured listed NCDs worth Rs 50 Crore via private placement in two series. Series A1 of Rs 25 Cr carries 11.40 percent coupon maturing Oct 2028 (24 months). Series A2 of Rs 25 Cr carries 11.60 percent coupon maturing April 2029 (30 months). Backed by 1.10 times security cover over loan receivables. Interest paid monthly, principal at maturity. NCDs to be listed on NSE.
Company raised Rs 50 Cr via secured NCDs. No equity dilution for shareholders. Higher interest cost may pressure margins but supports lending growth.