Mangalam Worldwide Announces Maiden 50 Crore NCD Issuance
Ahmedabad, March 24: Mangalam Worldwide Limited (MWL) announced the issuance and successful completion of its maiden non-convertible debentures (NCDs), aggregating to 50 crore, on a private placement basis.The issuance comprised rated, listed, senior, secured, transferable, and redeemable NCDs. The issue consisted of 50,000 debentures with a face value of 10,000 each and is listed, marking a key milestone in the company's capital markets journey. Acuité has assigned its long-term rating of 'Provisional ACUITE A+’ on the Rs. 50 crore Non-Convertible Debentures (NCD) of Mangalam Worldwide Limited (MWL).
“This maiden NCD issuance marks an important step in our financial strategy as we diversify our funding sources and strengthen our balance sheet,” said Chandragupt Prakash Mangal, Managing Director, Mangalam Worldwide Limited. "It reflects the confidence of investors in Mangalam Worldwide's growth trajectory and operational strengths. The funds raised will support our long-term working capital requirements and reinforce our commitment to building a future-ready stainless-steel enterprise.”
The issuance enables MWL to access debt capital markets efficiently while maintaining its existing shareholding structure and supporting its long-term growth plans.
Mangalam Worldwide Limited, established in 1995, is a fully integrated stainless steel manufacturer. The company's infrastructure includes steel melting shops, rolling mills, and a seamless pipes & tubes unit, spread across four plants in Halol, Changodar, and Kapadvanj, Gujarat. These facilities cover over 125,000 square meters and have a total installed capacity of more than 190,000 MTPA. The company employs a workforce of 750+ people. On September 18, 2025, the company transitioned its equity shares from the NSE SME Platform (Emerge) to the Capital Market Segment (Main Board) of the National Stock Exchange of India (NSE).
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