Board Approves ₹100 Crore NCD Issue via Private Placement

FINKURVE · price

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Price reaction · full curve 14 horizons · vs prior close

+14.3%1-day move

₹63.00

prior close

₹64.00

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AI summary

Finkurve Financial Services board approved raising ₹100 crores via 1 lakh rated, listed, senior, secured, redeemable, transferable NCDs (face value ₹10,000 each) on private placement through BSE's EBP platform. Coupon: 11.33% annually, paid quarterly. Tenure: 24 months (allotment June 16, 2026; maturity June 16, 2028). Issue includes a ₹50 crore green shoe option on a base size of ₹50 crores. Secured by first-ranking exclusive charge on identified receivables in favour of the debenture trustee.

Likely market impact

Diversifies funding via debt; no equity dilution as NCDs are non-convertible. 11.33% coupon indicates a relatively high cost of borrowing for the NBFC.