Veefin Solutions to Raise Up to ₹50 Cr via NCDs, Guarantees Nityo Tech Debt

Veefin Solutions Ltd announced that its Board of Directors has approved the raising of funds up to INR 50 Crores through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis. The company also approved granting a corporate guarantee of up to INR 45 Crores to the trustee for secured NCDs proposed to be issued by its step-down subsidiary, Nityo Tech Private Limited. These NCDs are unrated, unlisted, secured, and redeemable, with details of terms to be disclosed at allotment. The corporate guarantee will be treated as a contingent liability.