Veefin Solutions Approves ₹20 Cr NCD Allotment

Veefin Solutions Ltd's Board has approved the allotment of 2,00,000 unrated, unlisted, secured, redeemable non-convertible debentures (NCDs) with a face value of ₹1,000 each, aggregating to ₹20 Crores. The NCDs are issued on a private placement basis. The issuance carries an interest rate of 15.0% per annum, payable monthly, with a 6-month moratorium on principal repayment followed by equal monthly repayments. The NCDs are secured by a first-ranking pari-passu charge over the company's moveable assets, pledged promoter shares (2x cover), hypothecation over an escrow account for future equity proceeds, and personal guarantees from promoters. The security cover must be a minimum of 2.00 times the outstanding amounts. The maturity date for these NCDs is August 4, 2028.