Mangal Credit and Fincorp Limited has successfully allotted 1,000 secured, redeemable non-convertible debentures (NCDs) aggregating to ₹10 crore on a private placement basis. The allotment was approved by the Loans and Advance Committee during its meeting held on May 20, 2026. This issuance follows the board approval granted on May 7, 2026, to raise funds through such instruments.

The NCDs, which are rated, listed, and taxable, have a face value of ₹1,00,000 each. They are secured by a first-ranking, exclusive, and continuing charge on identified receivables of the company. These receivables shall at all times equal 1.20 times the aggregate amount of the principal outstanding. The debentures are proposed to be listed on BSE Limited, based on the in-principle listing approval dated May 18, 2026.

Key Terms of the Allotment

The debentures carry a coupon rate of 11.75% per annum, subject to the deduction of tax at source if applicable. Interest payments are scheduled to be made monthly. The tenor for these instruments is set at 21 months, with the date of allotment recorded as May 20, 2026, and the maturity date fixed for February 20, 2028.

The company confirmed that there are no special rights, interests, or privileges attached to these instruments. Additionally, there is no history of delay in payment of interest or principal amounts exceeding three months from the due date. The issuance is part of the company's broader strategy to raise funds through private placement.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE545L01039/6d1be38a7d754829.pdf

Mangal Credit & Fincorp 's Board of Directors, at its meeting held on May 7, 2026, approved the issuance of Non-Convertible Debentures (NCDs) aggregating up to ₹30 Crore through two separate tranches on a private placement basis. The board meeting commenced at 12.15 P.M. and concluded at 12.50 P.M. The approvals were made in compliance with Regulation 30 and Regulation 51 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

NCD Issuance at a Glance

The two tranches together represent a total fundraise of up to ₹30 Crore. Both series are structured as secured, listed, rated, taxable, transferable, and redeemable NCDs, each carrying a face value of INR 1,00,000 per debenture. The key parameters of each tranche are summarised below:

Security and Structural Details

Both tranches are secured by way of a first ranking, exclusive, and continuing charge over certain identified receivables of the company. A security cover of 1.20x the value of the outstanding principal plus accrued interest or obligations is required to be maintained at all times until the redemption of the debentures. The coupon rate of 11.75% p.a. is subject to deduction of tax at source, as applicable.

The principal repayment structure differs between the two tranches. For Tranche 1, 50% of the principal is payable at the 12th month, with the remaining amount due at maturity. For Tranche 2, the entire principal is repayable as a bullet payment at the time of maturity. No special rights, interests, or privileges are attached to either instrument.

Listing and Compliance

Both NCD series are proposed to be listed on BSE Limited. The issuances have been disclosed in compliance with the SEBI Master Circular bearing reference number HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, as amended from time to time. The actual allotment of debentures may take place on a date other than the deemed dates of allotment, subject to the completion of applicable requirements within the prescribed timeline. The disclosure was signed by Hardik Meghraj Jain, Executive Director of the company.