Finkurve Financial Services Limited has informed the Exchange regarding Outcome of Board Meeting held on February 25, 2026.
FINKURVE · price
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Finkurve Financial Services has received board approval to raise Rs. 50 Crores by issuing 5,000 Non-Convertible Debentures (NCDs) on a private placement basis through the electronic bidding platform. Each NCD has a face value and issue price of Rs. 1 lakh, will be issued at par, and listed on BSE. The debentures carry a coupon rate of 12% per annum, with interest paid as a bullet payment at the end of the 24-month tenure (maturity on February 26, 2028). The issue will be secured by a first-ranking exclusive charge over identified receivables of the company, maintaining a minimum security cover of 1.10 times the outstanding amount. Allotment is scheduled for February 26, 2026.
This is a debt-raising move, not equity dilution, so existing shareholders won't see any change in their shareholding. However, the company is committing to a relatively high 12% interest cost with only bullet interest payment at maturity, which means it will need to generate strong returns on the funds raised. The 1.10x security cover offers some protection to debenture holders but signals that the company is leveraging its receivables, likely to fund lending operations.