Regency Fincorp completes ₹60 crore NCD allotment at 13.5% coupon
Regency Fincorp Limited finalized the allotment of its ₹60 crore NCD issue on August 19, 2026, raising funds through 60,000 units at a 13.50% coupon rate. The secured debt instruments, backed by a 1.25x security cover from principal receivables, are listed on BSE Limited. Four institutional investors participated in the private placement, with principal repayments scheduled quarterly over the 15-month tenure.
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Regency Fincorp Limited has completed the allotment of its revised ₹60 crore non-convertible debenture (NCD) issue. The company’s Allotment Committee approved the allotment of 60,000 units on August 19, 2026, confirming the full subscription of the offering from four identified investors. This follows a corrigendum issued earlier in August, which clarified that the Board had originally approved 60,000 units rather than the 50,000 units inadvertently reported in initial filings.
The finalised issue involves secured, rated, and listed NCDs with a face value of ₹10,000 each. The instruments were issued via private placement and are listed on BSE Limited. The allotment confirms that the company successfully raised the full revised amount under the existing board approval framework without altering the cost of debt or security structure established in the initial offer document.
Allotment Details
| Parameter | Details |
|---|---|
| Total Issue Size | ₹60 crore |
| Units Allotted | 60,000 units |
| Face Value per Unit | ₹10,000 |
| Coupon Rate | 13.50% per annum |
| Tenure | 15 months |
| Date of Allotment | August 19, 2026 |
| Maturity Date | November 19, 2027 |
| Listing Venue | BSE Limited |
The securities are secured by a charge over assets with a security cover ratio of 1.25 times the outstanding amount. At least 125% of this security cover is derived from principal receivables. In the event of a default in payment of interest or principal for more than three months, a penalty interest of 5% per month over the applicable coupon rate will apply.
Investors and Repayment Schedule
The NCDs were allotted to four identified investors: RNB Corporate Services Private Limited, LC Capital India Private Limited, Gripvest Asset Lix LLP, and Blue Ashva Mangalam Large Value Fund-I.
Interest on the NCDs is fixed at 13.50% per annum and is paid monthly. Principal repayment is scheduled quarterly over the 15-month tenure. The first coupon payment is due on September 19, 2026, while the first principal repayment of ₹2,000 per unit is scheduled for November 19, 2026. The final maturity date for the instrument is November 19, 2027.
What the Numbers Show
The completion of the full ₹60 crore allotment indicates strong investor appetite for the company’s debt instruments despite the relatively high coupon rate of 13.5%. The structured repayment schedule, featuring quarterly principal repayments starting from the third month, reduces the refinancing risk at maturity compared to bullet repayment structures. The consistent 1.25x security cover backed primarily by principal receivables provides a stable collateral base for investors throughout the 15-month tenure.
Historical Stock Returns for Regency Fincorp
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.06% | -0.84% | +10.51% | +66.20% | +20.11% | +754.55% |
How will the quarterly principal repayment schedule impact Regency Fincorp's short-term liquidity management and cash flow projections over the next 15 months?
Given the high coupon rate of 13.5%, what does this imply about the company's current cost of capital and its future strategy for refinancing or equity dilution?
To what extent will the proceeds from this ₹60 crore NCD issue be utilized to fund new asset acquisitions versus existing working capital requirements?
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