Mangal Credit Allots ₹10 Crore in Secured NCDs at 11.75% Interest
Mangal Credit and Fincorp Limited has allotted ₹10 crore in secured, non-convertible debentures (NCDs) on May 20, 2026. The NCDs carry an interest rate of 11.75% per annum and mature on February 20, 2028. This allotment is part of the company's fund-raising strategy.
The amount raised (₹10 crore) is significant for a company of this size and can impact its financial leverage and liquidity, but it's not a transformative amount.
The company has successfully raised funds through the issuance of NCDs, which is generally a positive sign for financial health and operational capacity.
Mangal Credit and Fincorp Limited has announced the allotment of 1,000 secured, listed, rated, taxable, transferable, redeemable, non-convertible debentures (NCDs) on a private placement basis. The total issue size is ₹10 crore, with each debenture having a face value of ₹1,00,000.
The NCDs carry an interest rate of 11.75% per annum, payable monthly, and have a tenor of 21 months. The allotment was approved by the Loans and Advance Committee on May 20, 2026. These NCDs are secured by a charge on the company's hypothecated assets, specifically identified receivables, ensuring a coverage of 1.20 times the principal outstanding.
The debentures are scheduled to mature on February 20, 2028. The company had received in-principal listing approval from BSE Limited on May 18, 2026, for these NCDs. This move is part of the company's strategy, approved by the Board of Directors on May 7, 2026, to raise funds through the issuance of NCDs.
What to do with a filing like this
Mangal Credit and Fincorp Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Mangal Credit and Fincorp Limited. Read the original for the full detail.