Mangal Credit and Fincorp Limited has informed the Exchange regarding allotment of 1500 Non Convertible Debentures at its meeting held on July 14, 2025
MANCREDIT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mangal Credit and Fincorp Limited has allotted 1,500 secured, listed, rated, redeemable, non-convertible debentures (NCDs) on a private placement basis, raising a total of INR 15 crore. Each NCD has a face value of INR 1,00,000 and was issued at a slight discount of INR 418.44, priced at INR 99,581.56 per unit. The NCDs carry a high coupon rate of 12.90% per annum, with monthly interest payments and 25% principal repayment at the end of 18, 21, 24, and 27 months, maturing on October 3, 2027. The issue is secured by a first-ranking exclusive charge on identified receivables at 1.25 times the outstanding principal, and is proposed to be listed on BSE.
This INR 15 crore NCD issuance at 12.90% interest expands the company's borrowings, increasing interest expenses. The relatively high coupon and short tenure suggest the company is willing to pay a premium for funding, which may pressure margins. For shareholders, this signals active fundraising and leverage build-up in the NBFC's book.