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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Purshottam Investofin Limited's board, at its meeting on March 14, 2026, approved the issuance of 30 unsecured, unrated, unlisted, redeemable Non-Convertible Debentures (NCDs) on a private placement basis. Each NCD has a face value of Rs 1 crore, taking the total issue size to Rs 30 crore. The NCDs carry a fixed interest rate of 13% per annum, payable quarterly, with principal redemption at the end of 18 months from the date of allotment. The investor also has a put option to redeem after 6 months, and there are no prepayment charges for the issuer. In case of default, an additional 2% per annum over the coupon rate will be payable.
The company is raising Rs 30 crore in debt without diluting shareholders, but at a high 13% coupon on unsecured NCDs, which will increase interest expenses and weigh on profitability. The put option after 6 months and unsecured nature may signal moderate credit risk for investors.