Veefin Solutions to Raise ₹50 Cr via NCDs, Guarantees ₹45 Cr for Subsidiary

Veefin Solutions Ltd announced its Board of Directors has approved the issuance of Non-Convertible Debentures (NCDs) aggregating up to ₹50 crore on a private placement basis. The company also approved granting a Corporate Guarantee of up to ₹45 crore to Axis Trustee Services Limited for NCDs to be issued by its step-down subsidiary, Nityo Tech Private Limited. The NCDs are unrated, unlisted, secured, and redeemable, with the specific terms to be finalized at the time of allotment. The corporate guarantee will be treated as a contingent liability for Veefin Solutions.