Mangal Credit & Fincorp Approves ₹30 Crore NCD Issuance at 11.75% Coupon Rate
Mangal Credit & Fincorp Limited's board meeting on March 5, 2026, resulted in approval of ₹30 crore Non-Convertible Debentures issuance on private placement basis. The NCDs carry 11.75% per annum coupon rate with monthly interest payments, 30-month tenure, and bullet principal repayment on maturity in September 2028.
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Mangal credit & fincorp Limited's board of directors has approved the proposal to raise funds through issuance of Non-Convertible Debentures (NCDs) worth ₹30 crore. The board meeting, held on March 5, 2026, concluded with formal approval for the capital mobilization initiative.
Board Meeting Outcome
The board meeting commenced at 4:00 PM and concluded at 4:28 PM on March 5, 2026. The directors considered and approved the fund raising proposal in compliance with regulatory requirements.
| Parameter: | Details |
|---|---|
| Meeting Date: | March 5, 2026 |
| Meeting Duration: | 4:00 PM to 4:28 PM |
| Primary Decision: | Approval of ₹30 crore NCD issuance |
| Regulatory Compliance: | Regulation 30 and 51 of SEBI Listing Regulations |
NCD Issuance Details
The approved Non-Convertible Debentures will be issued on private placement basis with specific terms and conditions. The securities are structured as secured, listed, rated, and redeemable instruments.
| Specification: | Details |
|---|---|
| Issue Size: | ₹30,00,00,000 (₹30 crore) |
| Number of NCDs: | 3,000 debentures |
| Face Value: | ₹1,00,000 per NCD |
| Coupon Rate: | 11.75% per annum |
| Tenure: | 30 months |
| Interest Payment: | Monthly |
| Principal Repayment: | Bullet payment on maturity |
Security and Listing Framework
The NCDs will be secured by way of first ranking, exclusive and continuing charge over certain identified receivables of the company. A security cover of 1.20 times the value of outstanding principal plus accrued interest will be maintained until redemption.
| Security Details: | Specifications |
|---|---|
| Security Type: | First ranking charge on receivables |
| Security Cover: | 1.20 times outstanding obligations |
| Listing Exchange: | BSE Limited |
| Deemed Allotment Date: | March 18, 2026 |
| Maturity Date: | September 18, 2028 |
Stock Exchange Notifications
The company has notified both BSE Limited and National Stock Exchange about the board meeting outcome in accordance with SEBI Master Circular requirements.
| Exchange: | Identification Codes |
|---|---|
| BSE Limited: | Scrip Code 505850, Debt Scrip Code 976597 |
| NSE Limited: | Scrip Symbol MANCREDIT |
The board approval represents a significant milestone in the company's capital raising strategy, with the NCD issuance subject to completion of regulatory requirements within applicable timelines.
Source: Company/INE545L01039/bfa3a0f4-26a5-45ee-930b-97b58667f272.pdf
Historical Stock Returns for Mangal Credit & Fincorp
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.66% | +2.24% | -0.71% | -8.49% | +6.25% | +18.36% |
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