OUTCOME OF FINANCE COMMITTEE MEETING FOR ALLOTMENT OF NON-CONVERTIBLE DEBENTURES
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Unifinz Capital India Ltd's Finance Committee approved the allotment of 45,000 listed, rated, senior, secured, non-convertible debentures via private placement. Each debenture has a face value of INR 10,000, totalling INR 45 crore (INR 450 million). The NCDs carry a fixed coupon rate of 13% per annum, payable monthly, with a 24-month tenure (allotment: May 20, 2026, maturity: May 20, 2028). The debentures are secured by book debts/receivables at a 1.2x asset coverage ratio and are rated BBB-/Stable by CRISIL Ratings Limited. They will be listed on BSE's Wholesale Debt Market segment.
The high 13% coupon rate signals elevated borrowing costs, typical for a smaller-cap NBFC/capital company raising debt privately. The BBB- rating reflects moderate credit risk. For existing shareholders, the NCD issuance dilutes nothing as it's debt, but the fixed 13% obligation adds interest expense that must be serviced monthly.