Smc Global Securities Limited has informed the Exchange regarding Outcome of Committee Meeting held on September 30, 2025.
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SMC Global Securities' Non-convertible Debenture Committee approved the prospectus for a public NCD issue on September 30, 2025. The base issue size is up to Rs. 7,500 lakh (₹75 crore) with a green shoe option of an additional Rs. 7,500 lakh, taking the total potential issue size to up to ₹150 crore (15 lakh NCDs at Rs. 1,000 each). The NCDs are rated ICRA A (Stable) by ICRA Limited and will be secured by a pari passu charge over the company's trade receivables and margin trading finance (MTF) book, with a minimum 110% security cover. The NCDs will be listed on BSE, which is the designated stock exchange for the issue. The exact coupon rate, tenor, and redemption schedule are detailed in the Prospectus and were not disclosed in this filing.
This is a pure debt-raising exercise — no equity dilution for shareholders. The brokerage is likely using the proceeds to expand its margin trading and lending business. Investors should watch for the coupon rate in the prospectus, as the ICRA A Stable rating suggests a moderate-credit, moderate-yield instrument. The addition of ₹150 crore in debt will increase interest obligations and leverage on the books.