Investment24 Jun 2025, 12:45 pm
Mangal Credit and Fincorp Ltd. to Raise INR 15 Crore via NCDs, Plans Expansion in Maharashtra, Gujarat, and Rajasthan
AI Summary
Mangal Credit and Fincorp Ltd. held a Board Meeting on 24th June 2025, where they approved the proposal to raise funds through the issuance of Non-Convertible Debentures (NCDs) up to INR 15,00,00,000 on a private placement basis. The company also announced a Strategic Expansion Plan for FY 2025-26, aiming to open approximately 15 to 18 new branches across Maharashtra, Gujarat, and Rajasthan. The expansion is expected to contribute significantly to the company's growth and sustainability.
Key Highlights
- Mangal Credit and Fincorp Ltd. to raise INR 15 Crore through NCDs
- Private placement of secured, listed, rated, redeemable NCDs
- Proposed expansion in Maharashtra, Gujarat, and Rajasthan
- Plan to open approximately 15 to 18 new branches
- Expansion aimed at tapping underserved markets and enhancing customer reach