Issue of Non-Convertible Debentures (NCDs) on Private Placement basis and Foreign currency denominated bonds under ECB Framework
MUFIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.2 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Mufin Green Finance's Management Committee approved issuing listed, secured Non-Convertible Debentures (NCDs) of up to ₹75 crore (including a ₹25 crore green shoe option) on private placement basis. The NCDs will have a face value of ₹10,000 each, a 15-month tenure, 10% annual coupon paid monthly, and will be listed on BSE. Separately, the company also approved foreign currency bonds under the External Commercial Borrowings (ECB) framework worth up to USD 6 million, with a 36-month tenure, interest at 6-month CME SOFR + 450 bps, semi-annual payments, and listing on India International Exchange (IFSC). Both instruments will be secured by a first and exclusive charge on identified receivables.
This is a fundraising move to strengthen the company's lending capital, with relatively modest borrowing costs (10% on rupee NCDs, SOFR-linked for dollar bonds). For shareholders, it means incremental debt on the balance sheet, though the short tenures and receivable-backed security limit duration risk. No equity dilution since these are debt instruments.