Mangal Credit to Raise ₹35 Cr via NCDs, Abandons ₹20 Cr Issue

Mangal Credit and Fincorp Ltd announced outcomes from its Board Meeting held on August 14, 2026. The board approved the withdrawal of a previously proposed private placement offer for Non-Convertible Debentures (NCDs) worth ₹20 crore. Concurrently, the company resolved to raise funds by issuing up to 3,500 secured, listed, rated, redeemable NCDs on a private placement basis, aggregating up to ₹35 crore. These NCDs will have a face value of ₹1,00,000 each, a tenure of 23 months, and an interest rate of 11.50% per annum, with monthly interest payments and bullet repayment. The issue is proposed to be listed on BSE Limited.