Allotment of Listed Rated Secured Redeemable Non Convertible Debentures
Price
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Regency Fincorp has allotted 1,000 secured, rated, listed, redeemable non-convertible debentures (NCDs) worth ₹10 crore through private placement to LC Venture Debt Fund. Each debenture has a face value of ₹1 lakh and carries a 15% annual coupon rate. The NCDs have a 19-month tenure, maturing on January 1, 2028, with monthly interest and principal repayments starting July 1, 2026. The issue is secured by a 1.25x exclusive charge on the company's performing loan receivables, with a fallback pari-passu charge on current and fixed assets if the cover falls short.
The company is raising ₹10 crore of debt at a high 15% interest rate, which signals aggressive growth or funding needs but will meaningfully increase finance costs. Shareholders should note higher leverage and the obligation to make monthly principal repayments of about ₹52.6 lakh over 19 months.