Mangal Credit to raise ₹30 Crore via NCD issuance on private placement
Mangal Credit and Fincorp Limited's Board approved raising up to ₹30 Crore via Non-Convertible Debentures (NCDs) through private placement. The company will issue NCDs worth ₹10 Crore and ₹20 Crore, carrying an 11.75% annual interest rate. These secured, listed NCDs have varying tenors and maturity dates in 2028.
The amount being raised is significant for the company's size and will impact its capital structure and debt levels. The issuance of NCDs is a key financial event.
The company is raising funds through debt issuance, which indicates growth or operational expansion plans. The NCDs are secured, listed, and rated, suggesting a well-structured financial move.
Mangal Credit and Fincorp Limited announced today, May 7, 2026, that its Board of Directors has approved proposals to raise funds through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis.
The company plans to issue secured, listed, rated, and redeemable NCDs up to a total amount of ₹30 Crore. This includes an issuance of up to ₹10 Crore and another issuance of up to ₹20 Crore. The NCDs will have a face value of ₹1,00,000 each and will carry a coupon interest of 11.75% per annum, subject to tax deduction at source.
The first issuance of ₹10 Crore involves up to 1,000 NCDs with a tenor of 21 months. The deemed date of allotment is May 20, 2026, with 50% of the principal payable at the 12th month and the remainder at maturity on February 20, 2028. The second issuance of ₹20 Crore involves up to 2,000 NCDs, with a tenor of up to 2 years and 3 months and 13 days. The deemed date of allotment for this issuance is June 10, 2026, with a bullet repayment of the principal at maturity on September 23, 2028. Both issuances will be listed on the BSE Limited and will be secured by a first-ranking charge over certain identified receivables of the Company, maintaining a security cover of 1.20x.
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.