Mangal Credit and Fincorp Allots INR 20 Crore Worth of Secured Non-Convertible Debentures
Mangal Credit and Fincorp Ltd has approved the allotment of senior secured non-convertible debentures (NCDs) through a private placement. The NCD tranche, totaling INR 20,00,00,000, was finalized by the company’s Loans and Advance Committee on June 23, 2026.The allotment includes 2,000 fully paid debentures. Each NCD has a face value of INR 1,00,000 (Indian Rupees One Lakh Only). These debentures were issued at a discount of INR 2,000 each, aggregating to the total issue size of twenty crore rupees.
The issuance is structured as a secured, listed, rated, and taxable NCD tranche. The instrument carries an interest rate of 11.75% per annum (subject to applicable tax at source) with monthly interest payment scheduling.
Key terms associated with the NCDs are detailed below:
| Feature | Detail |
|---|---|
| Type of Security | Secured, Listed, Rated, Taxable, Transferable Redeemable Non-Convertible Debentures (NCDs). |
| Total Allotment | 2,000 NCDs. |
| Face Value per NCD | INR 1,00,000. |
| Aggregate Issue Size | INR 20,00,00,000. |
| Issue Method | Private Placement. |
| Tenor | 27 months. |
| Date of Allotment | June 23, 2026. |
| Date of Maturity | September 23, 2028. |
| Interest Rate | 11.75% p.a. |
| Security/Charge | Secured by a first ranking, exclusive and continuing charge on identified receivables, equivalent to 1.20 times (120%) of the aggregate principal outstanding. |
The NCDs are structured for issuance via private placement. The company confirmed that there is no special right or interest attached to the instrument.
MANCREDIT Stock Price Movement
Shares of Mangal Credit and Fincorp Limited are edging higher to ₹225.77 as of 12:16 PM today, after rallying by 3.58% in live trading. The stock maintains strong interest during the Live Market session, with a volume of 246,012 shares transacted.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.