Manba Finance allots ₹50 crore NCDs at 10.65% coupon
- Manba Finance Limited allotted 50,000 NCDs aggregating ₹50 crore on September 24, 2026
- The instruments carry a coupon rate of 10.65% and a tenure of 26 months
- Principal and interest payments are structured on a monthly basis until maturity
- The NCDs are secured by hypothecation of receivables with a 1.10 times security cover
*this image is generated using AI for illustrative purposes only.
Manba Finance Limited has allotted 50,000 secured, rated, listed, redeemable, taxable, non-convertible debentures (NCDs) aggregating ₹50 crore on a private placement basis. The allotment was completed on September 24, 2026.
The Finance Committee of the company’s Board of Directors approved the issuance during its meeting held on September 24, 2026. The debentures have a face value of ₹10,000 each and are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.
Instrument details
The NCDs offer a coupon rate of 10.65% with a tenure of 26 months. The principal and interest payments are scheduled to be made monthly throughout the life of the instrument. The security matures on November 24, 2028.
| Particular | Detail |
|---|---|
| Issuer | Manba Finance Limited |
| Security Type | Secured, Rated, Listed, Redeemable, Taxable NCDs |
| Issue Size | ₹50 crore (50,000 units) |
| Face Value | ₹10,000 per unit |
| Coupon Rate | 10.65% |
| Tenure | 26 months |
| Allotment Date | September 24, 2026 |
| Maturity Date | November 24, 2028 |
| Listing Exchange | BSE Limited (WDM Segment) |
Security and repayment structure
The debentures are secured by an exclusive charge via a deed of hypothecation over a specific portfolio of receivables. The issuer is required to maintain a minimum security cover of 1.10 times the outstanding principal amounts along with accrued coupons at all times during the tenure. In the event of default in payment of interest or principal for more than three months, an additional interest rate of 2.00% over the coupon rate will apply until the default is cured.
The redemption of the NCDs will be executed in accordance with the Debenture Trust Deed executed between the issuer and the Debenture Trustee. No special rights, interests, or privileges are attached to the instrument beyond those standard for such securities.
Historical Stock Returns for Manba Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.71% | +4.18% | +7.96% | +28.15% | +2.19% | -8.47% |
How will the 10.65% coupon rate impact Manba Finance's weighted average cost of debt and net interest margin in the coming quarters?
What is the current credit rating assigned to these NCDs, and how does it compare to recent issuances by peer NBFCs with similar risk profiles?
Given the 1.10x security cover requirement, what is the composition and liquidity profile of the specific receivables portfolio pledged as collateral?
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