Finkurve Board approves Rs 60 Cr NCD issue and ESOP grant
FINKURVE · price
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On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 2.6 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Finkurve board approved raising up to Rs 60 crores via 60,000 secured NCDs on private placement through electronic bidding, base size Rs 50 cr plus Rs 10 cr greenshoe option, coupon 11.16% paid monthly, 21 month tenure maturing Nov 2027, to be listed on BSE. NRC also granted 4,75,572 ESOPs at Rs 1.87 per option under Finkurve ESOP Plan 2018.
NCD raise adds secured debt at 11.16% yield, moderate borrowing cost. ESOP grant may cause minor future equity dilution for shareholders.