Please find attached disclosure under Regulation 30 of SEBi (LODR) Regulations, 2015
MANCREDIT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mangal Credit and Fincorp Ltd has allotted 1,000 secured, listed, rated non-convertible debentures (NCDs) on a private placement basis, raising INR 10 crore. Each NCD has a face value of INR 1 lakh issued at par. The debentures carry an interest rate of 11.75% per annum with monthly interest payments. The tenure is 21 months with maturity set for February 20, 2028. The NCDs are secured by a first-ranking charge on the company's hypothecated assets and receivables, with coverage maintained at 1.20 times (120%) of the outstanding principal. The NCDs will be listed on BSE Limited.
The 11.75% coupon rate represents a relatively high yield for NCDs, suggesting the company is paying a premium to attract investors, which could indicate higher credit risk perception. Monthly interest payments provide regular cash flow to debenture holders.