Announced Tue, 23 Jun · 12:07 IST
Mangal Credit allots 2,000 NCDs worth Rs 20 crore via private placement
Fund Raising View source PDF
MANCREDIT · price
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Price reaction · full curve 14 horizons · vs prior close
+6.4%1-day move
₹217.30
prior close
₹225.61
base price
In-mkt
timing
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AI summary
Mangal Credit and Fincorp allotted 2,000 secured, listed, rated, taxable NCDs on private placement basis, raising Rs 20 crore in face value. Each NCD has face value of Rs 1 lakh, issued at a Rs 2,000 discount per unit, carries 11.75% annual interest paid monthly, and matures on Sept 23, 2028 (27 month tenor). NCDs are secured by identified receivables at 1.20 times cover and will be listed on BSE under existing ISIN. Board had approved the fund raise on May 7, 2026.
Likely market impact
Raises around Rs 19.6 crore (net of discount) to boost lending book. 11.75% coupon is a high borrowing cost and may pressure NIMs. No equity dilution.