Share India Securities Ltd Allots INR 50 Crores in Non-Convertible Debentures through Private Placement
Share India Securities Ltd has approved the allotment of Non-Convertible Debentures (NCDs) on a private placement basis, raising a total of INR 50 crore. The decision was made by the Finance Committee of the Board of Directors during a meeting held on July 8, 2026.The issuance involves 50,000 listed, secured, rated, senior, taxable, transferable, and redeemable NCDs. Each debenture has a face value of INR 10,000, amounting to a total aggregation of INR 50,00,00,000/-.
The company intends to list these NCDs on the wholesale debt market (WDM) segment of the BSE Limited. The instrument has a tenure of 459 days from the date of allotment, which is July 8, 2026.
Key terms associated with the debentures include a coupon/interest rate set at 10.50% per annum. The payment schedule stipulates monthly payments for the coupon/interest, while the principal repayment will be made as a lump sum at maturity.
Regarding security and risk mitigation, the NCDs are secured by a pari-passu charge over all current assets and receivables, including MTF receivables (both present and future). This security requires a minimum cover of 1.35 times the entire Outstanding Amounts under this Issue at any point in time, alongside a Personal guarantee from the promoters.
The issuance document also specifies provisions for delay or default. In the event that payment of interest or principal is delayed for more than three months from the due date, the Issuer will be liable to pay an additional coupon rate of 2% per annum over the original Coupon Rate until the default is rectified.
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