Mangalam Worldwide Limited has informed the Exchange regarding Outcome of the meeting of the Debenture Committee of the Board of Directors held on March 11, 2026.
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Mangalam Worldwide Limited's Debenture Committee, at a meeting held on March 11, 2026, approved the terms for issuing up to 50,000 senior, secured, rated, listed, redeemable NCDs of face value Rs. 10,000 each, aggregating Rs. 50 crore. This includes a green shoe option for an additional 5,000 NCDs worth Rs. 5 crore, taking the total potential size to Rs. 55 crore. The NCDs carry a coupon of 9.75% per annum, payable quarterly, with a 36-month tenure maturing on March 17, 2029. The issue will be done via private placement on the Electronic Book Platform (EBP) and will be listed on NSE's New Debt Market segment. Security is backed by a mortgage on certain assets, hypothecation over plant and machinery of group company Mangalam Saarloh Private Limited, and a pledge of promoter-held equity shares. Beacon Trusteeship Limited will act as the debenture trustee.
This is a debt raise of up to Rs. 55 crore at 9.75% interest, which will add to the company's leverage and create fixed quarterly interest obligations for the next three years. While it diversifies funding sources, shareholders should monitor how the proceeds are deployed and the impact on interest coverage and debt servicing capacity.