Announced Thu, 25 Jun · 12:20 IST
Board okays Rs 50 Cr NCD issue and key management appointments
Fund Raising View source PDF
FINKURVE · price
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AI summary
Finkurve board approved raising up to Rs 50 crore through 5,000 secured, listed NCDs on private placement basis via electronic bidding platform on BSE. NCDs carry 11.55% annual coupon, paid quarterly, with about 33 months tenure maturing April 2029. Secured by first charge on receivables. Board also appointed Raju Shah (ex-ICICI, Capri Global) as Chief Risk Officer and Husain Pittalwala as Compliance Head.
Likely market impact
Rs 50 Cr NCD raise at 11.55% lifts interest cost; NCDs are debt, no equity dilution. New CRO and Compliance Head may strengthen governance.