Regency Fincorp board clears INR 50 Cr NCD issue at 12% p.a., eyes ESOPs and equity raise
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Regency Fincorp board approved issuing 50,000 secured NCDs at face value INR 10,000 each, totalling INR 50 Crores (base INR 30 Cr plus greenshoe INR 20 Cr), via private placement listed on BSE. Interest is 12% p.a. payable monthly, tenure 15 months, secured 1.25 times against MSME receivables. Board also approved an ESOP scheme for eligible employees and is considering further fund raising through equity shares, warrants on preferential basis, and compulsory convertible debentures, subject to regulatory approvals.
12% NCD yield is attractive for fixed income investors; proposed equity, warrants and CCDs may dilute existing shareholders if executed.