Usha Financial Services Limited Allots Non-Convertible Debentures
Usha Financial Services Limited announced the allotment of 309 secured, redeemable, non-convertible debentures (NCDs - 'Series P') on a private placement basis. The face value of each NCD is Rs. 1,00,000, and the total allotment amounts to Rs. 3,09,00,000.The Board of Directors approved the allotment during a meeting held on March 28, 2026, which commenced at 11:00 A.M. and concluded at 11:30 A.M. This allotment is part of a larger approved issue of Rs. 12,00,00,000.
The debentures have a tenure of four years, with an allotment date of March 28, 2026, and a maturity date of March 27, 2030. A fixed interest rate of 12.00% per annum, payable monthly, is offered. The debentures are secured by a first and exclusive charge on identified receivables.
The details of the NCD issuance are summarized below:
| S. No. | Particulars | Details of Securities |
|---|---|---|
| 1 | Type of Securities | Secured, Redeemable, Non-Convertible Debentures (NCDs-Series P) |
| 2. | Type of Issuance | Private Placement |
| 3. | Size of the issue | INR 12 Crores out of which NCDs amounting INR 3.09 Crores are being allotted as Tranche 2 |
| 4. | Whether proposed to be listed? | No |
| 5. | Tenure of the instrument, Date of allotment and date of maturity | 04 years Date of Allotment: - 28-03-2026 Date of Maturity: - 27-03-2030 |
| 6. | Coupon/interest offered, schedule of payment of coupon/interest and Principal | Fixed- 12.00% per annum payable monthly. The Debentures will be redeemed at par. |
| 7 | Charge/security, if any, created over the assets | Debentures shall be secured by a first and exclusive charge basis on the identified receivables, by way of hypothecation in favour of the Debenture Trustee for the benefit of the Debenture Holders over the Hypothecated Assets as per the terms and conditions stipulated. |
| 8. | Special rights/interests/privileges attached to the instrument and changes thereof | Not Applicable |
| 9. | Delay in payment of interest/- principal amount for a period of more than threé months from the due date or default in 'payment of interest/principal | Not Applicable |
| 10. / | Details of any letter or comments regarding payment/non-payment of interest, principal on due dates, or any other matter concerning the security and /or the assets along with its comments thereon, if any | Not Applicable |
| 11. | Details of redemption of debentures/ shares indicating the manner of Redemption (whether out of profits or out of fresh issue) | Debentures shall be redeemed at par. |
Source:
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.