Manba Finance Limited has informed the Exchange regarding allotment of 50000 securities pursuant to Non Convertible Securities at its meeting held on Jun 05, 2025
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Awaiting price reaction for this filing.
Manba Finance has raised ₹50 crore by allotting 50,000 secured, rated, listed, redeemable, taxable non-convertible debentures (NCDs) of ₹10,000 each on a private placement basis. The issue is in two series: Series A of 35,000 NCDs (₹35 crore) at 11.30% p.a. for 24 months maturing June 5, 2027, and Series B of 15,000 NCDs (₹15 crore) at 11.35% p.a. for about 30 months maturing November 25, 2027. Interest is payable monthly with principal due at maturity, and the NCDs are secured by an exclusive charge over a specific portfolio of receivables. The NCDs will be listed on BSE, with the allotment made at the Finance Committee meeting held on June 5, 2025.
This is a pure debt raise with no equity dilution, but it adds to the company's interest burden. As an NBFC, Manba Finance is using NCD proceeds to likely fund lending growth, which is a normal funding activity but investors should track the company's asset quality and cost of borrowings.