M&M Financial Services has formally approved the issuance of Secured, Rated, Listed, Redeemable Non-Convertible Debentures worth up to ₹1,000 crore through private placement. The Committee of Directors, authorized by the Board of Directors, concluded the approval meeting on April 23, 2026, at 1:45 p.m. (IST), marking a significant capital raising initiative for the financial services company.

NCD Issue Structure and Terms

The approved NCD Series AA2026 offers attractive investment terms with a structured approach to capital mobilization. The issue comprises a base size of ₹500 crore with a green shoe option for an additional ₹500 crore.

Payment Schedule and Returns

The NCD structure provides investors with a clear payment timeline featuring annual coupon payments followed by principal redemption at maturity.

Security and Risk Management

The debentures will be secured by an exclusive charge in favor of the Debenture Trustee on present and future receivables under loan contracts, hire purchase agreements, lease arrangements, owned assets, and book debts. The security coverage extends to 100% of the debenture outstanding amount, with assets free from encumbrances serving as collateral.

In case of payment default exceeding three months from the due date, the company will pay additional interest at 2% per annum over the coupon rate for the defaulting period, providing additional protection for investors.

Regulatory Compliance

The NCD issuance has been structured in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The private placement falls within the overall borrowing limits approved by shareholders and the authorization granted by the Board of Directors.

This capital raising exercise demonstrates M&M Financial Services' strategic approach to debt financing, offering investors a medium-term fixed-income opportunity with predetermined returns and robust security arrangements.

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M&M Financial Services has filed mandatory regulatory certificates with stock exchanges, confirming zero dematerialization and re-materialization requests for the quarter ended 31st March 2026. The submission was made on April 17, 2026, in compliance with SEBI regulations governing depositories and participants.

Regulatory Compliance Filing

The company submitted certificates under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 to both BSE Limited and National Stock Exchange of India. Company Secretary Brijbala Batwal (FCS No: 5220) signed the compliance documents, ensuring adherence to regulatory requirements for the fourth quarter of fiscal year 2026.

Registrar Confirmation Details

KFin Technologies Limited, acting as the Registrar to an Issue and Share Transfer Agent, provided two separate confirmation certificates dated April 8, 2026. The certificates covered different categories of securities:

Certificate Signatories

Two senior officials from KFin Technologies Limited signed the confirmation certificates:

• Equity Shares Certificate: Dnyanesh Gharote, Vice President
• NCDs Certificate: Umesh Pandey, Senior Manager

Both certificates confirmed that no requests were received for dematerialization or re-materialization of the respective securities during the specified quarter.

Operational Framework

KFin Technologies Limited operates from its Operations Centre located at Selenium, Tower B, Plot No-31 & 32, Financial District, Nanakramguda, Serilingampally, Hyderabad. The registrar maintains regular certification processes with depositories and stock exchanges in accordance with SEBI regulations, ensuring transparent reporting of dematerialization activities.

The nil dematerialization requests indicate stable investor holding patterns for both equity shares and Non-Convertible Debentures during Q4FY26, with no significant movement between physical and electronic form of securities.