Announced Tue, 14 Jul · 17:27 IST
NCD issuance of Rs 75 Cr and USD 6 Mn ECB bonds approved
Fund Raising View source PDF
MUFIN · price
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Price reaction · full curve 14 horizons · vs prior close
-1.1%1-day move
₹128.00
prior close
₹129.50
base price
After-mkt
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-0.7-1.0-0.8-0.7-1.1+0.3+0.3-0.0-1.4-3.4————
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AI summary
The management committee has approved raising up to Rs 75 crore via listed secured NCDs on private placement (including Rs 25 crore green shoe option) at a 10 percent coupon for 15 months, to be listed on BSE. Separately, approved foreign currency denominated bonds worth up to USD 6 million under the ECB route for 36 months at 6 month SOFR plus 450 bps, to be listed on India INX at IFSC. Both instruments are secured by first and exclusive charge on identified receivables.
Likely market impact
No equity dilution as these are debt instruments. Adds about Rs 75 Cr plus USD 6 Mn to borrowings; higher interest cost may pressure margins.