Share India Securities Announces Rs 125 Crore NCD Issue

Share India Securities Limited is raising Rs 125 crore via NCDs with a 10.30% coupon rate.
The issuance includes a 21-month tenure and a mandate to maintain 1.15x security cover.

Reader Takeaway: The NCDs offer steady monthly income, but require investors to monitor the company’s ability to maintain asset coverage.

What just happened

The Finance Committee of Share India Securities Ltd met on October 26, 2026, and approved the issuance of listed, rated, secured, taxable, and redeemable Non-Convertible Debentures (NCDs). The total issue size of Rs 125 crore includes a green shoe option of Rs 50 crore, issued on a private placement basis. These instruments will be listed on the wholesale debt market (WDM) segment of the BSE.

Why this matters

This debt issuance provides the company with capital to manage working capital needs or operational requirements. For investors, the instrument offers a fixed return of 10.30% per annum, paid out monthly. The company has stipulated a strict 1.15x security cover on current assets and receivables, providing a buffer for debenture holders. Furthermore, the inclusion of personal guarantees from the promoter group adds a layer of oversight regarding repayment commitments.

Security and Terms

The NCDs are backed by a pari-passu charge on the company’s present and future current assets and receivables. The company has also included a default provision: if interest or principal payments are delayed by more than three months, an additional 2% per annum penalty interest will accrue until the default is addressed.

What to track next

Shareholders should observe the company's debt-servicing capability in upcoming quarterly filings, specifically the maintenance of the mandatory 1.15x asset cover ratio and the timely execution of monthly interest payments.