IndoStar Capital Finance allots NCDs worth ₹400 crore on private placement
IndoStar Capital Finance has successfully allotted ₹400 crore worth of Non-Convertible Debentures (NCDs) on a private placement basis. The issuance includes 40,000 debentures split between Series XXXIV and Series XXXV, both offering a 9.15% coupon rate and maturing in August and November 2028 respectively. The securities are secured by a first pari-passu charge on the company's assets and receivables.
*this image is generated using AI for illustrative purposes only.
IndoStar Capital Finance has allotted 40,000 senior, secured, redeemable, rated, listed, taxable, non-convertible debentures (NCDs) on a private placement basis. The total size of the issue is ₹400 crore, comprising two series of NCDs with a face value of ₹1,00,000 each. The Borrowing Committee approved the allotment via Circular Resolution #04/2026-27 dated July 23, 2026.
Allotment Details
The NCDs are issued under two series: 9.15% ICFL 26-27/SERIES XXXIV and 9.15% ICFL 26-27/SERIES XXXV. Both series carry a coupon rate of 9.15% per annum. The securities will be listed on the negotiated trade reporting platform of the National Stock Exchange of India Limited.
| Parameter | Details |
|---|---|
| Total Number of NCDs | 40,000 |
| Size of Issue | ₹400 crore |
| Coupon Rate | 9.15% per annum |
| Type of Issuance | Private Placement |
Tenor and Redemption
The tenor for Series XXXIV is 25 months, maturing on August 23, 2028. Series XXXV has a tenor of 28 months, maturing on November 23, 2028. Interest payments are scheduled annually, with principal repayment due upon maturity.
| Series | Maturity Date | Tenor |
|---|---|---|
| Series XXXIV | August 23, 2028 | 25 months |
| Series XXXV | November 23, 2028 | 28 months |
Security Structure
The NCDs are secured by a first pari-passu charge over the company's portfolio of assets or receivables not more than 90 days overdue, along with cash and cash equivalents. This charge is shared with banks, financial institutions, and other lenders providing credit facilities to the company.
Historical Stock Returns for IndoStar Capital Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.94% | -2.99% | +6.61% | +17.73% | -15.11% | -23.34% |
How will the proceeds from this ₹400 crore issuance be allocated to support IndoStar's lending growth?
What impact will the 9.15% coupon rate have on the company's net interest margins given current market conditions?
Does this private placement signal a strategic shift in IndoStar's funding mix away from bank borrowings?
19
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
