Finkurve Financial Services Limited has informed the Exchange regarding Outcome of Board Meeting held on March 20, 2026 regarding raising of funds through issue of Non-Convertible Debentures (NCDs) and shifting of Registered Office within the local limits of the city.
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Finkurve Financial Services' board, at its March 20, 2026 meeting, approved raising Rs. 25 crore through privately placed Non-Convertible Debentures (NCDs) to be listed on BSE. The issue consists of 25,000 NCDs with a face value of Rs. 10,000 each, issued at par via the Electronic Bidding Platform. The NCDs carry a coupon rate of 11.16% paid monthly, with a tenure of about 21 months and 3 days, maturing on December 26, 2027. The instrument is senior, secured, and backed by a first-ranking charge on identified receivables with a 1.10x security cover. Separately, the company has shifted its registered office within Lower Parel, Mumbai, effective the same day.
The Rs. 25 crore NCD raise strengthens the company's funding base but adds a high-cost debt obligation (11.16% annual interest). For equity shareholders, there is no immediate dilution since NCDs are debt instruments, though higher interest expenses may weigh on future earnings if deployed sub-optimally.