Capri Global Capital Limited has approved the issuance of up to USD 30 million in senior secured non-convertible bonds. The debt instrument will be issued on a private placement basis and listed on GIFT City exchanges.

The Management Committee passed the resolution on October 19, 2026, following prior board and shareholder approvals. The company will issue up to 3,000 bonds, each with a face value of USD 10,000. These instruments are rated, redeemable, and denominated in United States Dollars.

Bond Terms and Structure

The bonds carry a coupon rate of 240 bps plus the 6-month CME Term SOFR. Interest payments are scheduled on a semi-annual basis. The tenure is set at 36 months from the deemed date of allotment. To secure the issuance, the company created a first-ranking, pari-passu charge by way of hypothecation over certain identified receivables.

Registrar Appointment

The committee also approved the appointment of India International Depository IFSC Limited as the registrar and transfer agent for this issuance. The agreement execution is tentatively scheduled between October 19, 2026, and October 25, 2026. This step ensures the bonds are issued in dematerialized form, complying with SEBI LODR Regulations requirements for international securities listings.

What the Numbers Show

The pricing structure reveals a significant premium over benchmark rates. By setting the coupon at 240 bps above the 6-month CME Term SOFR, Capri Global Capital signals a specific risk-adjusted return requirement for international investors. This spread indicates the cost of accessing dollar-denominated liquidity through the IFSC route, distinct from domestic rupee borrowing costs. The security structure, relying on hypothecation of receivables rather than fixed assets, aligns with typical NBFC funding models where asset turnover supports debt servicing.

Capri Global Capital Limited has issued a postal ballot notice seeking shareholder approval to raise up to ₹4,000 crore through the issuance of equity shares, debt securities, convertible securities, or warrants. The proposal, approved by the board on October 14, 2026, now moves to the shareholder voting stage.

The company intends to utilize one or more permissible modes for this fundraising effort. These include rights issues, preferential issues on a private placement basis, public issues, qualified institutions placements (QIP), Foreign Currency Convertible Bonds (FCCBs), and External Commercial Borrowings (ECBs). The specific method and terms will be finalized in due course based on market conditions.

Postal Ballot and Voting Details

In compliance with SEBI Listing Regulations, the postal ballot notice is being sent electronically to members whose names appear on the register as of the cut-off date, Friday, October 9, 2026. Members can cast their votes only through remote e-voting via NSDL.

The resolution requires approval by a special majority. If passed, it shall be deemed to have been passed on the last date of e-voting, November 15, 2026. Dinesh Kumar Deora has been appointed as the scrutinizer for the process.

Fundraising Structure and Utilization

The authorization allows the Board to issue securities in one or more tranches, either in Rupees or foreign currencies. The proceeds may be utilized for several purposes, including:

• Making investments in subsidiaries, joint ventures, or associates.
• Repayment or pre-payment of borrowings and related financing costs.
• Funding growth of existing businesses and expansion plans.
• Meeting working capital requirements.
• Entering into new business ventures and strategic acquisitions.

What the Numbers Show

The shift from board approval to a formal postal ballot marks a critical step in Capri Global Capital’s capital expansion strategy. By securing an enabling resolution for ₹4,000 crore, the company retains significant flexibility to time its market entry. The broad range of permissible instruments, including QIPs and FCCBs, suggests management is preparing to optimize its cost of capital across different investor segments and regulatory windows, rather than committing to a single mode immediately. This structure allows the NBFC to respond dynamically to liquidity conditions in the debt and equity markets.