Intimation of the decision of the Board of Directors taken at their meeting held March 07, 2026 for raising funds by issuance of NCD
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The Board of Directors of SI Capital & Financial Services Ltd, at its meeting on March 7, 2026, approved the issuance of Secured Unlisted Redeemable Non-Convertible Debentures (NCDs) on private placement basis. The total issue size is up to Rs 50 Lakhs, comprising 5,000 NCDs of face value Rs 1,000 each. The NCDs carry a 12% per annum coupon rate, payable monthly, with a maximum tenure of 60 months. The NCDs will be secured by a first or pari passu charge on company assets and will not be listed on any stock exchange. The company is a small NBFC based in Coimbatore, Tamil Nadu.
This is a very small fundraise (Rs 50 Lakhs) by a small-cap NBFC and is unlikely to materially impact the stock price. The 12% coupon reflects the high cost of borrowing, typical for smaller, lower-rated entities, and the dilution effect is nil since these are debt instruments, not equity.