OnMobile Global approves ₹100 crore NCDs, re-appoints CFO
OnMobile Global Limited's board approved the private placement of secured, redeemable NCDs worth up to ₹100 crore with a tenor of 36 months and coupon rates ranging up to 13.88%. The company also re-appointed Radhika Venugopal as Whole-time Director and CFO for a three-year term starting March 27, 2027, subject to shareholder approval.
*this image is generated using AI for illustrative purposes only.
OnMobile Global Limited has approved the issuance of secured, redeemable, unrated, and unlisted Non-Convertible Debentures (NCDs) aggregating up to ₹100 crore via private placement. The decision was taken by the Board of Directors at its meeting held on June 24, 2026. Additionally, the board approved the re-appointment of Radhika Venugopal as Whole-time Director and Chief Financial Officer (CFO) for a term of three years effective March 27, 2027, subject to shareholder approval.
Issuance of Debentures
The board authorized the issuance of NCDs to two investors on a private placement basis. The instruments are secured and have a tenor of 36 months. The total issue size is divided into two tranches: up to ₹75 crore for Investor 1 and up to ₹25 crore for Investor 2.
| Particulars | Investor 1 | Investor 2 |
|---|---|---|
| Type of Securities | Secured, redeemable, unrated, unlisted NCDs | Secured, redeemable, unrated, unlisted NCDs |
| Number of Debentures | 800 | 2,500 |
| Face Value | INR 5,00,000 | INR 1,00,000 |
| Issue Size | Up to INR 75,00,00,000 | Up to INR 25,00,00,000 |
| Tenure | 36 Months | 36 Months |
| Listing | No | No |
Coupon Rate and Security
Investor 1 will receive a coupon rate of 13.60% per annum, payable monthly, computed based on 365 days in a year. This tranche also includes an upfront interest payment of 1% of the investment amount prior to the disbursement of Tranche I. Investor 2 will receive a running coupon of 13.88% payable monthly, along with an upfront interest payment of 1.25% of the tranche drawdown amount.
The debentures are secured by charges over the company's assets. For Investor 1, the security comprises a first-ranking pari passu charge on existing and future fixed and current assets, cashflows, and other assets, with a security cover of 1.5x. For Investor 2, the security includes a second-ranking floating charge over present and future receivables and assets, a first-ranking pledge over 100% of the shares of OnMobile Singapore PTE. LTD, and a first-ranking charge over its receivables and collection accounts.
Re-appointment of Whole-time Director & CFO
Based on the recommendation of the Nomination and Compensation Committee, the board re-appointed Radhika Venugopal (DIN: 10548693) as Whole-time Director and CFO. Her appointment is effective from March 27, 2027, to March 26, 2030, contingent upon shareholder approval at the ensuing Annual General Meeting. Radhika is a qualified Chartered Accountant with nearly twenty years of experience and has been associated with OnMobile Global Limited for over a decade.
Historical Stock Returns for OnMobile Global
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.48% | -11.77% | +36.43% | +20.84% | +30.08% | -52.00% |
How will the high coupon rates of 13.60% and 13.88% impact OnMobile Global's interest coverage ratio and overall profitability over the next three years?
What specific operational or expansion initiatives will the ₹100 crore raised through these NCDs fund?
How might the tiered security structure, particularly the pledge of OnMobile Singapore PTE. LTD shares, affect the company's ability to secure future financing?
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