Mangal Credit and Fincorp has raised Rs 10 crore through allotment of non-convertible debentures (NCDs). The company has allotted 1,000 fully paid, senior, secured, rated, listed, redeemable, taxable NCDs, each having a face value of Rs 1,00,000 each, on private placement basis. The NCDs have a tenure of 21 months and carry a coupon rate of 11.75% per annum (subject to deduction of tax at source, as applicable).
Mangal Credit and Fincorp is a listed non-banking financial services company offering gold loans, personal loans and SME loans.
