Outcome of Board Meeting held on May 07, 2026.
MANCREDIT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mangal Credit and Fincorp Limited's Board approved issuance of Non-Convertible Debentures (NCDs) worth ₹30 crore total through private placement. The first tranche of ₹10 crore involves 1,000 NCDs with face value of ₹1 lakh each, maturing in 21 months (February 2028). The second tranche of ₹20 crore involves 2,000 NCDs maturing in approximately 2 years 3 months (September 2028). Both NCD issues carry an 11.75% interest rate per annum with monthly interest payments. The debentures are secured against company receivables with a 1.20x security cover and will be listed on BSE Limited.
The ₹30 crore debt raise will increase the company's liabilities but provides needed capital for lending operations. The 11.75% rate suggests normal borrowing costs for a mid-sized NBFC. Existing equity shareholders face no dilution but should note the additional debt obligation.