Intimation is being filed for the decision of the board of directors for the issue of NCDs taken at their meeting held on March 07, 2026.
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Awaiting price reaction for this filing.
SI Capital & Financial Services Ltd's board, at a meeting on March 7, 2026, approved the issuance of Secured Unlisted Redeemable Non-Convertible Debentures (NCDs) worth up to Rs 50 Lakhs through private placement. The issue comprises 5,000 NCDs with a face value of Rs 1,000 each, and will not be listed on any stock exchange. The NCDs carry a 12% per annum interest rate, payable monthly, with a maximum tenure of 60 months (5 years). The instruments will be secured by a first-ranking charge on the company's assets, valued by a registered valuer. The specific investors and exact allotment/maturity dates are yet to be decided by the board.
This is a very small fundraising of just Rs 50 Lakhs, so the direct impact on the stock is minimal. However, the 12% coupon rate is notably high, suggesting the company may be offering attractive terms to a small set of private investors. Existing shareholders are not being diluted as these are debt instruments, not equity.