Arman Financial Services Limited has informed the Exchange about issue of Securities
ARMANFIN · price
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Arman Financial Services Limited has approved the issuance of 4,200 senior, secured, listed, redeemable non-convertible debentures (NCDs) through a private placement. Each NCD has a face value of Rs. 1 lakh, taking the total issue size to Rs. 42 crore. The NCDs carry a fixed interest rate of 11.10% per annum, payable semi-annually, with a 5-year tenure maturing on July 1, 2030. The issue is secured by the company's book debts and will be listed on BSE, with Catalyst Trusteeship Limited acting as the trustee. Bulk redemption of 99.99% of the principal is scheduled for July 1, 2028, with the remaining 0.01% paid at maturity.
The Rs. 42 crore NCD raise will boost the company's funds available for lending, supporting business growth. The 11.10% coupon is attractive for debt investors but raises the company's borrowing cost. There is no equity dilution for existing shareholders, though the addition of secured debt will increase leverage on the balance sheet.