OUTCOME OF FINANCE COMMITTEE MEETING HELD ON 13 MAY, 2026
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The Finance Committee of Unifinz Capital India Ltd has approved the issuance of 45,000 listed, rated, senior, secured, non-convertible debentures (NCDs) with a face value of INR 10,000 each, aggregating to INR 45 crore with a green shoe option for an additional INR 30 crore. The NCDs carry a 13% annual coupon rate payable monthly and will be listed on BSE's Wholesale Debt Market. The tenure is 24 months, maturing on May 20, 2028. The debentures are secured by book debts/receivables with a coverage ratio of 1.20 times the outstanding amount. This is a private placement issuance.
The 13% coupon rate is relatively high, suggesting the company faces elevated borrowing costs. The monthly interest obligation will create recurring cash outflows. Existing shareholders face dilution of earnings per rupee of debt raised, while the debentures being secured provides some protection to bondholders.