Enclosed herewith Outcome of Board Meeting held on May 7, 2026.
MANCREDIT · price
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The Board of Directors of Mangal Credit and Fincorp Limited approved two Non-Convertible Debenture (NCD) issuances on private placement basis totaling ₹30 crore. The first tranche is for ₹10 crore (1,000 NCDs at ₹1 lakh each) with a 21-month tenure maturing on February 20, 2028. The second tranche is for ₹20 crore (2,000 NCDs at ₹1 lakh each) with tenure up to 2 years 3 months maturing on September 23, 2028. Both NCDs carry an interest rate of 11.75% per annum with monthly interest payments. The first NCD has partial principal repayment (50% at 12th month), while the second has bullet repayment at maturity. Both issuances are secured with a 1.20x asset cover over receivables and will be listed on BSE.
The company is raising ₹30 crore through secured NCDs at 11.75% interest, which indicates capital mobilization to fund lending operations. This is positive for the company's growth trajectory but increases debt obligations that need to be serviced monthly. Shareholders should note the relatively short tenures and monthly interest commitments.