outcome of Finance Committee meeting for allotment of 30,000 NCDs
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Unifinz Capital India has allotted 30,000 listed, secured, redeemable, non-convertible debentures (NCDs) on a private placement basis, raising an aggregate nominal value of ₹30 crore. Each NCD has a face value of ₹10,000 and was issued at ₹9,950.14 per debenture, a small reduction reflecting accrued interest of ₹49.86. The NCDs carry a fixed coupon of 13% per annum, payable monthly, with a tenure of about 14 months maturing on May 24, 2027. The issue is rated BBB-/Stable by India Ratings and is secured by a first-ranking exclusive charge on the company's book debts/receivables with a 1.30x asset cover. The NCDs are proposed to be listed on the BSE Wholesale Debt Market segment under the existing ISIN INE926R07019.
The company has raised ₹30 crore of additional debt at a relatively high 13% coupon, reflecting its BBB- credit profile. The monthly interest payout and short ~14-month tenure mean meaningful debt servicing costs for shareholders, though the secured nature and 1.30x asset cover offer some protection to debenture holders.