Finkurve Financial Services Limited has approved the issuance of Non-Convertible Debentures worth ₹25 crore through private placement, following its board meeting held on March 20, 2026. The board also approved the relocation of the company's registered office within Mumbai city limits, marking significant operational developments for the financial services company.

Board Meeting Outcomes

The board meeting, which commenced at 11:45 a.m. and concluded at 12:00 p.m. on March 20, 2026, resulted in key approvals for strategic initiatives. The company has informed both BSE Limited and National Stock Exchange of India Limited about these material developments in compliance with regulatory requirements.

NCD Issuance Details

The company will issue 25,000 Non-Convertible Debentures with a face value of ₹10,000 each at par. The debentures carry an attractive coupon rate of 11.16% with monthly interest payments. The securities will be issued through private placement via Electronic Bidding Platform under SEBI regulations, providing a structured mechanism for institutional participation.

Security and Charge Structure

The NCDs will be secured by a first ranking exclusive and continuing charge over certain identified receivables of the company. The hypothecated assets will maintain at least 1.10 times coverage of outstanding amounts including principal, accrued interest, and other payable amounts. Security creation will be completed upfront with charge filing within 30 days from the deemed date of allotment.

Office Relocation

The board approved shifting the registered office within Mumbai's local limits from 202/A, 02nd Floor, Trade World, D-Wing, Kamala Mills Compound, S. B. Marg, Lower Parel West, Mumbai 400013 to Unit No 1, Trade Garden, 1st Floor, Building No. A, Kamala Mills Compound, Lower Parel, Delisle Road, Mumbai 400013, effective March 20, 2026.

Regulatory Compliance

The company maintains transparency by informing stock exchanges about material developments pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The board also approved the Draft Letter of Offer for the NCD issuance under SEBI regulations for non-convertible securities.

Source: None/Company/INE734I01027/df9f5238-b5b3-45fe-9019-241b8daa48d8.pdf

Finkurve Financial Services Limited has announced a significant milestone, crossing ₹1,035+ crore in Assets Under Management (AUM) with nearly 10x growth compared to FY23. The tech-first gold loan NBFC made this announcement highlighting its strengthened position within India's secured lending ecosystem.

Growth Performance and Operational Expansion

The milestone achievement reflects the company's strategic focus on portfolio expansion supported by disciplined underwriting practices and growing customer confidence. Finkurve Financial Services has established a robust presence across four states through its branch-led phygital network.

Business Strategy and Operations

The company's growth trajectory has been supported by prudent loan to value (LTV) norms and a strong focus on collateral-backed lending. Finkurve Financial Services has invested significantly in technology-enabled processes to enhance operational capabilities across multiple areas:

• Streamlined loan servicing operations
• Improved operational efficiency metrics
• Enhanced customer accessibility features
• Disciplined underwriting framework

Management Commentary

Commenting on the development, Mr. Priyank Kothari, Director of Finkurve Financial Services Limited, emphasized the company's commitment to sustainable growth. He stated that crossing ₹1,035+ crore AUM represents an important milestone in their journey, built on a stable and scalable gold loan platform grounded in disciplined underwriting and operational efficiency.

Kothari highlighted that the company's long-term value creation approach in secured lending focuses on balancing growth with asset quality and capital prudence. The management remains committed to responsible expansion, strong governance, and sustainable return metrics as the company scales further.

Company Background and Focus Areas

Finkurve Financial Services Limited, also known by its brand name Arvog, operates as a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI) as a non-deposit-taking, mid-layer NBFC. Originally established in 1984 as Sanjay Leasing Ltd., the company obtained its NBFC license in 1998 and was acquired by current promoters in 2010.

The company's primary focus remains on gold loans, which forms the majority of its Assets under Management, positioning it as a leading gold loan NBFC. Additionally, Finkurve Financial Services offers personal loans and has expanded its financial solutions through strategic partnerships with fintech companies.

Strategic Partnerships and Future Outlook

The company maintains a strategic tie-up with Augmont Goldtech, described as India's largest fully integrated gold platform, serving as a comprehensive destination for gold-related financial needs. Going forward, Finkurve Financial Services continues to focus on sustainable expansion, asset quality discipline, and long-term value creation as it scales further in India's growing gold loan ecosystem.