Anand Rathi Share and Stock Brokers Limited has completed the allotment of secured non-convertible debentures worth Rs. 4.95 crore through private placement. The company informed the stock exchanges about this development on March 30, 2026, pursuant to Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Debenture Allotment Details

The company allotted 495 secured, unlisted and redeemable non-convertible debentures to identified investors on March 30, 2026. Each debenture carries a face value of Rs. 1,00,000, bringing the total issue size to Rs. 4.95 crore.

Terms and Conditions

The NCDs carry attractive terms for investors with a tenure of 3 years and competitive interest rates. The instruments are structured as secured debentures with quarterly payment schedules.

Security and Charge Structure

The debentures are secured by a first ranking charge by way of hypothecation over all present and future book debts and receivables of the company. This security structure is governed by the deed of hypothecation dated August 14, 2023, supplemented by the Supplemental Deed of Hypothecation dated October 20, 2023, entered between the company and the debenture trustee.

Default and Penalty Provisions

The debenture terms include specific provisions for handling payment defaults. In case of default in payment of interest on any interest payment date or principal amount on the redemption date, the company will pay additional interest at 2% per annum over the stated interest rate. This penalty interest will be applicable from the date of default until the payment is made by the company.

Issue Structure

The original issue was structured to offer up to 595 debentures aggregating to Rs. 5.95 crore, but the actual allotment was made for 495 debentures totaling Rs. 4.95 crore. The debentures were issued through private placement basis to identified investors, with full redemption scheduled on the maturity date of March 29, 2029.

Anand Rathi Share and Stock Brokers Limited has disclosed to stock exchanges that a First Information Report (FIR) has been registered by Pune Police in connection with fraudulent off-market share transfers worth approximately Rs 13 crore. The development marks a significant escalation in the company's efforts to address the fraud that was initially reported in February 2026.

FIR Registration Details

The Deccan Police Station in Pune registered the FIR on March 16, 2026 at 08:41 P.M., following initial complaints filed by the company with Pune Police station and N.M. Joshi Police Station. The company had first intimated the exchanges about this matter on February 06, 2026, when the off-market transfer of shares was initially discovered.

Regulatory Compliance and Disclosure

The disclosure was made in compliance with Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information as required under SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Chief Financial Officer Tarak Kumarpal Shah signed the disclosure document, emphasizing the company's commitment to transparency and regulatory compliance. The information has also been uploaded on the company's investor website at anandrathi.com/investors.

Investigation Status and Corrective Measures

The estimated impact on the listed entity is to the extent of the amount involved, approximately Rs 13 crore. While investigations are currently underway to determine the persons involved in the fraudulent activity, the company has stated that necessary corrective actions have been identified and are at various stages of implementation.

The company has committed to providing further updates on the matter as developments occur, in accordance with the provisions of listing regulations. This ongoing case highlights the importance of robust internal controls and monitoring systems in the financial services sector.