Finkurve Financial Services Approves Rs 75 Crore NCD Issue at 11.33% Coupon Rate
Finkurve Financial Services board approved raising up to Rs 75 crores through Rated, Listed, Senior, Secured, Redeemable NCDs via private placement on May 13, 2026. The issue comprises a base issue of Rs 50 crores and a green shoe option of Rs 25 crores, carrying an 11.33% per annum coupon rate payable quarterly, with a 27-month tenure and maturity on August 13, 2028.
*this image is generated using AI for illustrative purposes only.
Finkurve Financial Services has announced that its board of directors approved raising up to Rs 75 crores through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis. The approval was granted at the board meeting held on May 13, 2026, convened pursuant to Regulations 29(1)(d), 50(1)(d), and 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 11:30 a.m. and concluded at 11:55 a.m.
Board Approves NCD Issuance
The approved NCDs are structured as Rated, Listed, Senior, Secured, Redeemable, and Transferable Non-Convertible Debentures, with both a face value and issue price of Rs 10,000 per debenture. The issuance is to be conducted through private placement via the Electronic Bidding Platform (EBP) under the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. The board also approved the Draft Letter of Offer for the issuance. The key details of the approved NCD issuance are outlined below:
| Parameter: | Details |
|---|---|
| Board Meeting Date: | May 13, 2026 |
| Instrument Type: | Rated, Listed, Senior, Secured, Redeemable, Transferable NCDs |
| Face Value per Debenture: | Rs 10,000 |
| Issue Price per Debenture: | Rs 10,000 |
| Total Securities: | 75,000 NCDs |
| Mode of Issuance: | Private Placement via Electronic Bidding Platform (EBP) |
| Listing Exchange: | BSE Limited |
Issue Structure and Size
The total issue size of Rs 75 crores is structured with a base issue and a green shoe option, providing flexibility in the fundraising process. The breakdown of the issue size is as follows:
| Component: | Amount |
|---|---|
| Base Issue: | Rs 50,00,00,000 (Indian Rupees Fifty Crores) |
| Green Shoe Option: | Rs 25,00,00,000 (Indian Rupees Twenty-Five Crores) |
| Total Issue Size: | Rs 75,00,00,000 (Indian Rupees Seventy-Five Crores) |
Coupon Rate, Tenure, and Repayment Terms
The NCDs carry a coupon rate of 11.33% per annum, with interest payable on a quarterly basis. The schedule of interest payments is set to commence from August 14, 2026, and will continue quarterly thereafter. The key tenure and repayment details are as follows:
| Parameter: | Details |
|---|---|
| Tenure: | 27 months from the Deemed Date of Allotment |
| Date of Allotment: | May 14, 2026 |
| Date of Maturity: | August 13, 2028 |
| Coupon Rate: | 11.33% per annum |
| Interest Payment Frequency: | Quarterly |
| First Interest Payment Date: | August 14, 2026 |
| Last Interest & Principal Payment: | August 13, 2028 |
| Default Penalty: | 2% per annum over and above the Coupon Rate |
Security and Charge Details
The debentures are secured by a first ranking, exclusive, and continuous charge on identified receivables by way of hypothecation in favour of the Debenture Trustee for the benefit of the Debenture Holders over the Hypothecated Assets. The terms and conditions governing security creation are stipulated under the 'Security Creation' section of the term sheet. In the event of a delay in payment of interest or principal for a period of more than three months from the due date, a penalty of 2% per annum over and above the coupon rate shall be applicable.
Regulatory Filing Details
The initial intimation of the board meeting was dated May 08, 2026, and was addressed to the Listing Department of BSE Limited and the Compliance Department of the National Stock Exchange of India Limited. The filing was signed and submitted by Kajal Parmar, Company Secretary and Compliance Officer of Finkurve Financial Services, holding Membership No. ACS65484.
Source: None/Company/INE734I01027/522189f7c94b409f.pdf
Historical Stock Returns for Finkurve Financial Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.40% | -14.22% | -16.63% | -42.14% | -47.60% | -47.60% |
How will Finkurve Financial Services deploy the Rs 75 crore raised through NCDs, and which business segments are likely to benefit most from this capital infusion?
Given the 11.33% coupon rate, how does Finkurve's cost of borrowing compare to industry peers, and could this signal tightening liquidity conditions for mid-sized NBFCs?
Will the green shoe option of Rs 25 crores be fully exercised, and what market demand indicators will determine investor appetite for these NCDs on the EBP platform?
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