Mangal Credit allots NCDs worth ₹20 Cr at 11.75% coupon

Mangal Credit & Fincorp has allotted 2,000 secured, rated, redeemable non-convertible debentures (NCDs) aggregating ₹20 crore on a private placement basis to raise funds. The NCDs carry a coupon rate of 11.75% per annum, with interest payable monthly, and have a tenor of 27 months maturing on September 23, 2028. The issuance was approved by the Loans and Advance Committee on June 23, 2026, following the Board's authorization on May 7, 2026.

The debentures have a face value of ₹1,00,000 each and were issued at a discount of ₹2,000 per unit. They are secured by way of a first ranking, exclusive, and continuing charge on identified receivables, which shall at all times equal 1.20 times the aggregate amount of principal outstanding. The NCDs are proposed to be listed on BSE Limited.

The issuance is a reissuance under the existing ISIN INE545L07044, which originally had a tenor of 30 months. The allotment was made in terms of the in-principle approval received from BSE Limited dated May 18, 2026. The company stated that there are no special rights or privileges attached to the instruments and no delays in payments have been recorded.

Key Details of the Allotment

Particulars	Details
Type of Securities	Secured, Listed, Rated, Taxable, Transferable Redeemable, Non-Convertible Debentures
Total Number of NCDs Allotted	2,000
Face Value per NCD	₹1,00,000
Issue Price (Discount)	₹98,000 (issued at ₹2,000 discount)
Total Allotment Amount	₹20,00,00,000 (₹20 crore)
Coupon Rate	11.75% p.a.
Interest Payment Schedule	Monthly
Tenor	27 months
Date of Allotment	June 23, 2026
Date of Maturity	September 23, 2028
Listing	BSE Limited

The filing was submitted to the exchanges in compliance with Regulation 30 and Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Hardik Meghraj Jain, Executive Director, signed the disclosure on behalf of Mangal Credit and Fincorp Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.58%	-3.28%	+29.32%	+27.61%	+9.57%	+49.16%

Mangal Credit & Fincorp Limited reported a 17.1% increase in net profit for the financial year ended March 31, 2026, reaching ₹1,530.65 lakh compared to ₹1,306.75 lakh in the previous year. Revenue from operations for FY26 grew 41% to ₹6,986.58 lakh from ₹4,947.62 lakh in FY25. The board, meeting on May 29, 2026, approved the audited financial results and recommended a final dividend of ₹0.75 per share for FY26, subject to shareholder approval. The company published these results in newspapers on May 30, 2026.

Financial Performance

For the quarter ended March 31, 2026, the company recorded a profit after tax of ₹547.81 lakh, up from ₹261.76 lakh in the same period last year. Total income for the year stood at ₹6,986.58 lakh. The company maintained a Net NPA ratio of 0.78% and a Capital Adequacy Ratio of 33.84% as of March 31, 2026.

Capital Allocation and Fundraising

The board approved the issuance of up to 25,00,000 fully convertible unlisted equity warrants to promoters and non-promoters on a preferential basis. Post-allotment, promoter holding is expected to increase to 59.99% from 55.25%. Additionally, the company issued 3,000 Non-Convertible Debentures (NCDs) aggregating ₹3,000 lakh during the quarter, which are listed on BSE Limited and secured by receivables. The proceeds were fully utilized for onward lending purposes with no material deviation.

Auditor and Compliance

Statutory auditors M/s. Bhagwagar Dalal & Doshi issued an unmodified opinion on the annual financial results. The board also appointed M/s. Anand R. Chandak & Company as internal auditors for FY27. The company confirmed compliance with financial covenants related to its listed debt securities, maintaining a Capital Adequacy Ratio of 33.84% and a Net NPA ratio of 0.78%.