Board approves 2nd tranche of 279 unlisted 12 percent secured NCDs

Board & Shareholder Meetings View source PDF Explain this filing

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AI summary

Usha Financial Services Limited informed the exchange that its Board of Directors, at a meeting held on October 16, 2026, approved the allotment of the Second Tranche of 279 Unlisted 12 percent Secured, Redeemable, Non-Convertible Debentures (Series R) on a private placement basis. The meeting ran from 3:30 PM to 4:00 PM.

Likely market impact

Raises debt funds at 12 percent via private placement; no equity dilution since NCDs are non-convertible.