Motilal Oswal Approves ₹900 Cr NCD Issue

Motilal Oswal Financial Services Limited's Finance Committee has approved the issuance of up to 90,000 Fully paid, Secured, Rated, Redeemable, Listed, Senior Bonds in the nature of Non-Convertible Debentures (NCDs). The total issue size is up to ₹900 Crore, with each NCD having a face value of ₹1,00,000. The NCDs will be issued on a private placement basis and are proposed to be listed on the National Stock Exchange of India Limited (NSE). The tenure of the instrument is 3 years and 26 days. The NCDs will be secured by a first-ranking pari passu charge on all present and future receivables of the Company.