Fedbank Financial Services Limited has informed the Exchange regarding Outcome of Board Meeting held on March 03, 2026.
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The Board of Directors of Fedbank Financial Services Limited, held on March 03, 2026, approved the issuance of up to 50,000 Rated, Listed, Unsecured, Non-Cumulative, Redeemable, Subordinated, Non-Convertible Debentures (NCDs) on a private placement basis. Each NCD has a face value of Rs. 1,00,000, aggregating to a total issue size of up to Rs. 500 Crore. The NCDs carry a fixed coupon of 9% per annum, payable annually, with a bullet principal repayment on maturity. The tenure is 7 years and 7 months (91 months) from the deemed date of allotment, which is on or before March 31, 2026. The NCDs are proposed to be listed on BSE and are unsecured with no special rights attached.
This Rs. 500 Crore subordinated debt raise will bolster the capital base of Fedbank Financial Services, supporting its lending growth as an NBFC, though it will add to interest expenses. Since the NCDs are non-convertible, there is no dilution of equity for existing shareholders.