IBL Finance Limited Allots Rs 2.0 Lakhs Worth of Secured Non-Convertible Debentures
IBL Finance Limited announced the successful allotment of Unlisted, Senior, Secured, Unrated, Taxable, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The company's Finance Committee approved the issuance on July 7, 2026.
The allotment involved two NCDs, each with a face value of Rs 1,00,000/-, issued at an issue price of Rs 1,00,000/-. The total size of the private placement was Rs 2,00,000/- (Rupee Two Lacs Only).
The issuance was previously approved by the Board of Directors on July 16, 2025, and received approval via a Special resolution from shareholders at the Annual General Meeting held on August 22, 2025.
Key details regarding the NCD allotment are summarized below:
| Detail | Information |
|---|---|
| Type of Securities | Unlisted, Senior, Secured, Unrated, Taxable Redeemable Non-Convertible Debentures (NCDs) |
| Issue Type | Private Placement to identified eligible investors |
| Total Allotted | 2 NCDs aggregating Rs 2,00,000/- |
| Tenure of Instrument | Allotment Date: July 7, 2026; Maturity Date: May 9, 2029 (1037 days) |
| Coupon/Interest | Fixed Coupon Rate - 13.00% Per Annum and 2% Upfront interest paid within seven working days of allotment |
| Payment Schedule | Monthly coupon payments until maturity |
The NCDs are secured by a charge over the company's receivables or Book Debts, which possess a minimum security coverage ratio of 1.05 times the loan amount.
Regarding default provisions, the company specified that if there is a delay in paying interest or principal for more than three months from the due date, additional interest of at least 1% per annum above the Coupon Rate will be payable for the defaulting period. Similarly, should the Company fail to execute the trust deed within the stipulated time under the Companies Act, it must pay interest of at least 1% per annum over and above the Coupon Rate until the execution of the Trust Deed.
IBLFL Stock Price Movement
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