Mangal Credit and Fincorp Ltd. Allots Debentures Worth INR 30 Crore
Mangal Credit and Fincorp Limited announced the allotment of INR 30,00,00,000 (Indian Rupees Thirty Crore only) in secured, listed, rated, taxable, transferable, redeemable, non-convertible debentures (NCDs) on a private placement basis. The allotment, approved by the Loans and Advance Committee on March 23, 2026, involves 3,000 debentures, each with a face value of INR 1,00,000 (Indian Rupees One Lakh Only), issued at an issue price of INR 98,000 (Indian Rupees Ninety Eight Thousand) per debenture, representing a discount of INR 2,000 (Indian Rupees Two Thousand Only) per debenture.The debentures will be listed on the BSE Limited. Key details of the NCDs are summarized below:
| Particulars | Details |
|---|---|
| Type of Securities | Secured, Listed, Rated, Taxable, Transferable Redeemable, Non-Convertible Debentures having a Face Value of INR 1,00,000 (Indian Rupees One Lakhs Only) each |
| Type of Issuance | Private Placement basis |
| Total Number of Securities | 3,000 |
| Size of Issue | INR 30,00,00,000 (Indian Rupees Thirty Crore Only) |
| Proposed to be Listed | Yes |
| Stock Exchange | BSE Limited |
| Tenure | 30 months |
| Date of Allotment | March 23, 2026 |
| Date of Maturity | September 23, 2028 |
| Coupon/Interest | 11.75% p.a. (subject to deduction of tax at source, applicable) |
| Schedule of payment of Coupon/Interest | Monthly |
| Security | Secured by a charge on the Hypothecated Assets of the Company, secured by way of a first ranking, exclusive and continuing charge on identified receivables which shall be at all times equal to 1.20 times or 120% of aggregate amount of principal outstanding. |
| Special Rights/Privileges | None |
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