The Board of Directors in their meeting today have approved issued of NCD upto 20 Crores in one or more tranches on private placement basis as per details enclosed.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Anupam Finserv Ltd's board has approved issuing secured NCDs worth up to Rs. 20 crore on a private placement basis. The NCDs carry a 12% annual coupon payable quarterly and have tenures of 27 or 39 months with a face value of Rs. 1 lakh each. The securities are unlisted and unrated, meaning they will not trade on any exchange and investors cannot easily exit before maturity. The company has created a charge over its receivables as security for these debentures.
The 12% coupon is notably high compared to typical debt instruments, suggesting the company may be paying a premium to attract investors. For shareholders, this indicates the company is taking on relatively expensive debt, which could pressure future profitability if not invested productively.