SMC Global Securities has approved the draft prospectus for a public issue of Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) worth up to Rs 150 crore. The total issue includes a base size of Rs 75 crore and a green shoe option of an additional Rs 75 crore. The NCDs, valued at Rs 1,000 each, will be listed on the BSE and secured by a pari passu charge on the company’s trade receivables and margin trading facility assets.
SMC Global Securities Clears Draft Prospectus for Rs 150 Crore NCD Issue
Base Issue Size: Rs 75 crore | Total Issuance including Green Shoe: Rs 150 crore
Reader Takeaway: Expansion of debt capital via secured NCDs provides liquidity, though investors must monitor credit rating updates.
What just happened
The Non-Convertible Debenture (NCD) Committee of SMC Global Securities has officially approved the draft prospectus for a forthcoming public issuance of NCDs. This move advances the board's earlier in-principle approval granted on July 26, 2026. The company intends to raise capital through these secured, rated, and redeemable debt instruments.
Key Issuance Terms
The issuance is structured with a base size of Rs 75 crore, complemented by a green shoe option for an additional Rs 75 crore, bringing the maximum potential raise to Rs 150 crore. Each debenture carries a face value of Rs 1,000. The instruments will be listed on the BSE Limited, ensuring secondary market liquidity for retail and institutional subscribers.
Security and Charge
To protect the interests of debenture holders, the principal and interest payments are secured by a pari passu charge on the company's specific assets. This security cover includes the company’s Trade Receivables and its Margin Trading Facility (MTF) portfolio, providing a collateralized backing for the debt.
What changes now
Following the committee's approval, the company will file the draft prospectus with the BSE and the Securities and Exchange Board of India (SEBI). Once filed, the document will become a public record, accessible via the portals of the exchange, the regulator, the lead managers, and the company’s investor relations website for public review and scrutiny.
What to track next
Investors should look for the official announcement regarding the credit rating assigned to these instruments, the coupon rates offered, and the subscription opening dates. The cost of borrowing through these NCDs will be a key metric for gauging the impact on the company's future interest outflow.