Finkurve Financial Services Ltd Approves Rs 50 Crore NCD Issue and Names Key Senior Management Personnel
Finkurve Financial Services Ltd has announced key outcomes from its Board meeting held on June 25, 2026. The company approved a plan to raise funds through the issue of Non-Convertible Debentures (NCDs) and appointed senior personnel to bolster its risk management and compliance functions.The board meeting considered and sanctioned the issuance of NCDs, amounting up to Rs 50,00,00,000/-, via a private placement through an Electronic Bidding Platform. This funding initiative is set for listing on BSE Limited.
Details of Non-Convertible Debenture (NCD) Issue
The debentures are rated as Senior and Secured. The offering involves 5,000 NCDs, each with a face value of Rs 1,00,000/- and an issue price of the same. These instruments are designed to mature in April 2029, carrying a coupon rate of 11.55%.Key financial and tenure details for the NCDs include:
| Particular | Details |
|---|---|
| Total Issue Size | Rs 50,00,00,000/- (Indian Rupees Fifty Crores) |
| Number of Securities | 5,000 Non-Convertible Debentures (NCDs) |
| Issue Price / Face Value | Rs 1,00,000/- each |
| Listing Exchange | BSE Limited |
| Tenure | 33 Months and 19 Days from Deemed Date of Allotment |
| Coupon Rate | 11.55% (Paid Quarterly) |
| Security Charge | First ranking, exclusive charge on identified receivables via hypothecation |
Appointments of Senior Management Personnel
In a separate action, the Board approved several appointments to crucial roles within the company based on the recommendation of the Nomination & Remuneration Committee. Mr Raju Bipinkumar Shah was appointed as Chief Risk Officer (CRO) on June 25, 2026, while Mr Husain Mohammed Pittalwala assumed the role of Compliance Head on June 29, 2026.The appointments and profiles of the newly designated senior management personnel are summarized below:
| Name | Designation | Date of Appointment | Profile Summary |
|---|---|---|---|
| Mr Raju Bipinkumar Shah | Chief Risk Officer (CRO) | June 25, 2026 | A seasoned financial services professional with over 21 years of experience across credit administration, risk management, and portfolio management. He previously served as the Head of Risk & Policy at Capri Global Capital. |
| Mr Husain Mohammed Pittalwala | Compliance Head | June 29, 2026 | A qualified Company Secretary and law graduate with around five years of experience in regulatory compliance and corporate governance. His previous roles included Senior Manager - Compliance at Hiranandani Financial Services Private Limited. |
Both individuals were noted to have no disclosed relationships concerning their appointments.
FINKURVE Stock Price Movement
As of 12:37 PM, shares of Finkurve Financial Services Limited are shedding value in live trading, slipping 0.4% to ₹66.74. The stock remains volatile during the session, currently ranging between a low of ₹66.47 and a high of ₹69.37.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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