The Board of Directors has inter alia approved the raising of funds through issue of Non-Convertible Debentures on Private Placement basis via Electronic Bidding Platform.
FINKURVE · price
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Finkurve Financial Services Ltd's Board has approved raising up to Rs. 75 crore through issue of Non-Convertible Debentures on private placement basis via Electronic Bidding Platform. The base issue is Rs. 50 crore with a green shoe option of Rs. 25 crore. Each NCD has a face value of Rs. 10,000 with a coupon rate of 11.33% per annum, payable quarterly. The debentures will be listed on BSE Limited and have a tenure of 27 months from the date of allotment (allotment date May 14, 2026, maturity August 13, 2028). The NCDs are senior, secured instruments backed by a first ranking charge on identified receivables.
This NCD issuance will help the company raise debt capital at 11.33% coupon rate to fund its lending activities or general corporate purposes. The secured nature and listing on BSE provide investor comfort. The 27-month tenure suggests medium-term borrowing. Shareholders should note this adds to the company's debt obligations.