SMC Global Securities Limited announced plans for a public issue of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) following a Non-convertible Debenture Committee meeting held on 19 Mar 25.
Key details of the NCD issuance:
- Instrument: Secured, Rated, Listed, Redeemable, Non-Convertible Debentures
- Issue Type: Public Issue
- Face Value: ₹1,000 per NCD
- Issue Size: Up to ₹75 crore (Base Issue Size) with an option to retain oversubscription up to ₹75 crore (Green Shoe Option), aggregating up to ₹150 crore (₹1,500 million)
- Credit Rating: ‘[ICRA] (A Stable)’ by ICRA Limited (rated up to ₹400 crore (₹4,000 million), rating letter dated 12 Dec 24, revalidated 27 Feb 25)
- Listing: Proposed on BSE Limited (in-principle approval received on 11 Mar 25)
- Security: Pari passu charge over Trade Receivables and MTF, maintaining a minimum security cover of 110%
- Prospectus Date: 19 Mar 25
The committee meeting commenced at 3:00 PM and concluded at 3:45 PM.