Indostar Capital Finance Approves ₹400 Cr NCD Issue

Indostar Capital Finance Ltd announced the approval of a private placement issuance of 40,000 Non-Convertible Debentures (NCDs) totaling ₹400 crore. The NCDs are senior, secured, redeemable, rated, listed, and taxable, with a face value of ₹1,00,000 each. Series XXXIV NCDs (20,000 units) have a tenor of 25 months, while Series XXXV NCDs (20,000 units) have a tenor of 28 months. Both series carry an interest rate of 9.15% per annum, with interest paid annually and principal on maturity. The NCDs are secured by a first pari-passu charge on the company's portfolio of assets or receivables not more than 90 days overdue, and/or cash and cash equivalents. The issuance aims to raise capital for the company's financing activities.