Loan & Debt23 Jun 2026, 12:09 pm
Mangal Credit Allots ₹20 Cr Non-Convertible Debentures
AI Summary
Mangal Credit and Fincorp Ltd has announced the allotment of 2,000 Secured, Listed, Rated, Taxable, Transferable Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total issue size aggregates to ₹20 crore, with each NCD having a face value of ₹1,00,000 and issued at a discount of ₹2,000. The NCDs carry a coupon rate of 11.75% per annum, payable monthly, and have a tenure of 27 months, maturing on September 23, 2028. The issuance is secured by a first-ranking charge on identified receivables. This move is part of the company's approved fund-raising strategy.
Key Highlights
- Allotment of 2,000 NCDs worth ₹20 crore via private placement.
- NCDs are secured, listed, rated, and redeemable with 11.75% annual interest.
- Maturity date set for September 23, 2028, with monthly interest payments.
- Issuance is secured by a charge on identified receivables.
Price Impact
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