Finkurve Financial Services Limited announced that its Board of Directors has approved a significant fundraising initiative through the issuance of Non-Convertible Debentures (NCDs) worth ₹50 crore. The board meeting, held on February 25, 2026, from 11:30 a.m. to 11:50 a.m., approved the raising of funds through private placement via Electronic Bidding Platform under SEBI regulations.

Issue Structure and Terms

The NCD issuance is structured as rated, listed, senior, secured, redeemable, transferable Non-Convertible Debentures. The company plans to issue 5,000 NCDs through private placement using the Electronic Bidding Platform (EBP) mechanism.

Tenure and Interest Structure

The debentures offer attractive terms for investors with a competitive interest rate and defined maturity schedule. The company has structured the instrument with a bullet payment mechanism, providing clarity on cash flow expectations.

Security and Risk Management

The NCDs will be secured by a comprehensive security structure to protect investor interests. The company has committed to maintaining adequate security cover throughout the tenure of the debentures.

Key security features include:

• First ranking exclusive and continuing charge over identified receivables (Hypothecated Assets)
• Security cover of at least 1.10x of outstanding amounts including principal, accrued interest, and other payable amounts
• Upfront security creation with charge filing within 30 days from deemed date of allotment
• Provision for updating allocated book debts list in ROC if required by Debenture Trustee

Regulatory Compliance

The NCD issuance follows all applicable SEBI regulations and guidelines. The board has approved the Draft Letter of Offer in compliance with Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021. The company has fulfilled disclosure requirements under Regulation 30 of SEBI LODR Regulations and relevant SEBI circulars dated July 11, 2023, and July 13, 2023.

The meeting outcome was communicated to both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements, with Company Secretary & Compliance Officer Kajal Parmar (Membership No: ACS65484) signing the disclosure documents.

Source: None/Company/INE734I01027/b3097aef-ee05-4049-a840-e05c60382313.pdf

Finkurve Financial Services Limited conducted its maiden earnings conference call on February 09, 2026, presenting strong financial results for the quarter ended December 31, 2025. The technology-enabled gold loan NBFC showcased robust growth across key metrics while maintaining disciplined risk management practices.

Strong Financial Performance

The company delivered impressive growth numbers during Q3 FY26, demonstrating the strength of its business model and execution capabilities.

Executive Director Priyank Kothari emphasized the company's positioning as a "next-generation technology-enabled gold-owned NBFC" that leverages technology to improve efficiency and customer experience without compromising risk controls. The integration with the broader Augmont ecosystem provides structural advantages in gold handling expertise and institutional understanding.

Technology-Driven Operations

CEO Naveen Kottala outlined the company's technology-first approach, highlighting three key areas of focus: risk control, customer experience, and operating efficiency. The company has built a completely in-house technology stack, which eliminates incremental tech costs as the branch network expands.

CFO Aakash Jain noted that current financial ratios reflect the company's growth phase, with ROE at 8-9% and ROA at 3.5-4% due to low leverage of 1.67x. The company targets industry-standard leverage of 3-4x in the medium term, which should improve these ratios significantly.

Market Position and Strategy

The management highlighted favorable market conditions with gold prices remaining elevated and the organized gold loan market expanding beyond Rs. 15 lakh crore. The company benefits from shifting borrower behavior toward gold loans as a preferred short-term borrowing option due to ease, transparency, and speed of disbursement.

Expansion Plans and Guidance

Management provided directional guidance for future growth, targeting 40-50% expansion in both AUM and branch network over the next 1-1.5 years. The company plans to add 50-60 branches in the current year, building on the 26 branches added in the previous year.

The growth strategy emphasizes:

• Conservative underwriting standards
• Technology-enabled operational efficiency
• Expansion in Tier-2 and Tier-3 markets
• Maintaining asset quality below industry averages

Financial Structure Optimization

The company is transitioning its personal loan product from a 30-day high-churning model to a 3-6 month EMI structure, which will spread yields more evenly. Co-lending initiatives are being developed with a target of 10-15% of overall AUM through partnerships under the CLM-1 model.

Priyank Kothari concluded by emphasizing the company's commitment to building a trusted gold loan franchise that prioritizes consistency and resilience over headline growth numbers. The management expressed confidence in their foundational systems and processes to support sustainable expansion while maintaining governance standards and risk discipline.