Key Quantitative Figures

  • Number of NCDs Allotted: 3,500
  • Face Value per NCD: ₹1,00,000
  • Total Issue Size: ₹35,00,00,000 (₹35 Crore)
  • Coupon Rate: 11.50% per annum
  • Tenure: 23 months

Parties Involved

  • Issuer: Mangal Credit and Fincorp Limited
  • Stock Exchange: BSE Limited (for listing)
  • Approving Committee: Loans and Advance Committee of the company

Terms and Conditions

  • Type of Security: Secured, Listed, Rated, Taxable, Transferable, Redeemable, Non-Convertible Debentures
  • Type of Issuance: Private Placement
  • Listing: To be listed on BSE Limited
  • Interest Payment Schedule: Monthly
  • Security: Secured by a first ranking, exclusive, and continuing charge on identified receivables. The charge shall be maintained at 1.05 times or 105% of the aggregate principal outstanding amount.
  • Special Rights/Privileges: None
  • Delay in Payment Provisions: Not Applicable
  • Redemption Details: As per the payment schedule specified in the terms

Financial and Operational Impact

The issuance represents a fundraising activity of ₹35 crore. The funds are raised through debt instruments carrying an 11.5% annual interest cost, payable monthly. The NCDs are secured against the company's receivables.