Arman Financial Services Limited Allots ₹125 Crore Non-Convertible Debentures
Arman Financial Services Limited has allotted 1,25,000 non-convertible debentures worth ₹125 crore on March 25, 2026, with each NCD having a face value of ₹10,000. The debentures offer 10.90% annual coupon rate with quarterly payments and have a 30-month tenure maturing on September 25, 2028. The NCDs are secured by receivables and rated "Acuite A-" (stable) by Acuite Ratings, with listing planned on BSE's Wholesale Debt Market Segment.
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Arman Financial Services Limited has successfully completed the allotment of non-convertible debentures worth ₹125 crore on March 25, 2026. The Finance & Investment Committee approved the allotment during its meeting held on the same date, following the earlier board meeting outcome communicated on February 12, 2026.
Debenture Issue Details
The company has allotted 1,25,000 senior, secured, listed, rated, taxable, transferable, redeemable non-convertible debentures on a private placement basis. The issue includes a Green Shoe Option of 25,000 NCDs, with each debenture carrying a face value of ₹10,000.
| Parameter | Details |
|---|---|
| Total Issue Size | ₹125 crore |
| Number of NCDs | 1,25,000 |
| Face Value per NCD | ₹10,000 |
| Green Shoe Option | 25,000 NCDs |
| ISIN | INE109C07147 |
Interest and Tenure Structure
The debentures offer an attractive coupon rate of 10.90% per annum, with quarterly interest payments commencing from June 25, 2026. The NCDs have a tenure of 30 months from the allotment date, maturing on September 25, 2028.
| Timeline | Details |
|---|---|
| Allotment Date | March 25, 2026 |
| Maturity Date | September 25, 2028 |
| Tenure | 30 months |
| Coupon Rate | 10.90% per annum |
| Interest Payment | Quarterly basis |
Redemption and Security Features
The debentures will be redeemed in three tranches during 2028, with face value redemptions of ₹3,000 each in March and June, and ₹4,000 in September. The NCDs are secured by a first ranking exclusive charge over the company's receivables, including present and future receivables free from encumbrances.
| Redemption Date | Face Value Redemption (₹) |
|---|---|
| March 25, 2028 | 3,000 |
| June 25, 2028 | 3,000 |
| September 25, 2028 | 4,000 |
Rating and Listing Details
Acuite Ratings & Research Limited has assigned an "Acuite A-" (stable) rating to these debentures. The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited, with Vardhaman Trusteeship Private Limited serving as the trustee to the issue.
In case of payment default, the company will be liable to pay additional interest at 2% per annum over the applicable interest rate on outstanding principal amounts until the default is remedied or final redemption is completed.
Source: None/Company/INE109C01017/484a38c7-4533-4c05-aafe-c2512790b7ca.pdf
Historical Stock Returns for Arman Financial Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.37% | +2.55% | -10.11% | -4.93% | +3.87% | +133.74% |
How will Arman Financial Services utilize the ₹125 crore raised through NCDs to expand its lending portfolio and market presence?
What impact might the relatively high 10.90% coupon rate have on the company's cost of capital and future profitability margins?
Will Arman Financial Services consider exercising the Green Shoe Option for additional ₹25 crore if market conditions remain favorable?
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