Allotment of 14% Listed Rated Secured Redeemable Non Convertible Debentures
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Regency Fincorp Limited (formerly Regency Investments Limited), a BSE-listed company (scrip code 540175), has allotted 2,500 secured, rated, redeemable non-convertible debentures (NCDs) of face value Rs 1,00,000 each, aggregating to Rs 25 crore. The NCDs carry a coupon rate of 14% per annum, have a tenor of 12 months and 5 days, and were privately placed with a single identified investor, LC Capital India Private Limited. Interest will be paid monthly, and principal will be repaid in two tranches — 95% at the 6-month mark and the remaining 5% at maturity on 2 February 2027. The NCDs are secured with a 1.25x security cover and are proposed to be listed on BSE.
For shareholders, this raises the company's debt burden by Rs 25 crore at a steep 14% interest cost, which will materially increase finance costs and could pressure profitability and earnings per share. The high coupon signals either aggressive expansion funding or limited access to cheaper credit, which is a cautious signal for equity investors.