Submission of Outcome of Board meeting held on 17th February 2026
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Awaiting price reaction for this filing.
Regency Fincorp's board approved raising INR 75 Crores through 7,500 secured, rated, listed non-convertible debentures (NCDs) via private placement, with the first tranche of INR 50 Crores (5,000 units at INR 1 lakh face value) split equally between a base issue and a green shoe option of INR 25 Crores each. The NCDs carry a 14% annual interest rate payable monthly, a 12-month and 5-day tenure, and will be listed on BSE. Infomerics Valuation and Rating was appointed as the credit rating agency and Catalyst Trusteeship as the debenture trustee. The board also noted the resignation of Independent Director Mr. Kamal Kumar effective 11th February 2026, recorded the disqualification-based cessation of Independent Director Mr. Sunil Jindal under Section 167(1)(b) for missing all board meetings over 12 months, and appointed Dr. Sachin Garg, a banking and financial services professional with 18+ years of experience, as a new Additional Independent Director.
The INR 75 Crore NCD issuance signals a significant debt-funded expansion plan for the NBFC, with a high 14% coupon indicating the borrowing cost for shareholders. The departure of two independent directors and governance lapses (one director absent from all 21 meetings) may raise corporate governance concerns, though the new appointment brings relevant domain expertise.