Intimation for the outcome of the Board Meeting held on March 07, 2026
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The board of SI Capital & Financial Services Ltd, at its meeting on March 7, 2026, approved a fund-raising plan through the issuance of Secured Unlisted Redeemable Non-Convertible Debentures (NCDs) via private placement. The total issue size is up to Rs. 50 Lakhs, comprising 5,000 NCDs with a face value of Rs. 1,000 each. The NCDs carry an interest rate of 12% per annum, payable monthly, with a maximum tenure of 60 months. The instruments will be secured by a first charge on the company's assets and will not be listed on any stock exchange. The identities of the investors are yet to be decided by the board.
This is a small-scale borrowing (Rs. 50 Lakhs) at a relatively high cost of 12% per annum, which may modestly increase the company's interest expense but is immaterial to overall financials. Since the NCDs are unlisted and privately placed, there is no direct dilution for existing shareholders, though the secured charge on assets adds a layer of encumbrance.