Loan & Debt9 Sept 2026, 11:59 am
Mangal Credit Allots ₹35 Cr NCDs on Private Placement
AI Summary
Mangal Credit and Fincorp Ltd has announced the allotment of 3,500 Secured, Listed, Rated, Taxable, Transferable Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total issue size amounts to ₹35,00,00,000 (₹35 Crore). Each NCD has a face value of ₹1,00,000 and a tenor of 23 months, with a maturity date of August 9, 2028. The NCDs carry an annual interest rate of 11.50% and are secured by a first-ranking charge on identified receivables. The allotment was approved by the Loans and Advance Committee on September 9, 2026.
Key Highlights
- Allotment of 3,500 NCDs worth ₹35 Crore completed.
- NCDs are secured, listed, rated, and redeemable.
- Interest rate is 11.50% p.a. with monthly interest payments.
- Tenor of the NCDs is 23 months, maturing August 9, 2028.
- Fundraising conducted via private placement.
Price Impact
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