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India Debt Bond Securities SEBI Regulatory Filings — June 24, 2026

India Debt Securities Intelligence

By Gunpowder Editorial ·

1 high priority 22 medium priority 23 total filings analysed

Executive Summary

The 23-filing digest for India Debt Securities Intelligence reveals a market characterized by high-credit-quality, fixed-rate NCD issuances from NBFCs and corporates, with coupon rates clustered between 7.92% and 9.25% and tenors ranging from 2 to 10 years.

Period-over-period comparisons are largely absent in individual filings, but yield analysis shows Torrent Power's 10-year paper offering 8.10-8.20% (a significant premium over the 10-year G-sec yield), while Bajaj Finance's 7-year paper at 7.92% offers a more conservative spread. The most critical development is the Rs. 3,800 Crore mega-issuance by Torrent Power, the largest single-debt event in this batch, signaling strong infrastructure-related capital demand. A standout positive trend is disciplined debt servicing, with 100% of payment-related filings showing timely or early payments (e.g., Union Bank, Axis Finance, Neogen Chemicals), indicating sector-wide liquidity health. Insider trading data is absent in all filings, but capital allocation actions (redemptions, allotments) suggest active portfolio management by the borrowing companies. A portfolio-level pattern is the concentration of new money-raising at the 8-9% coupon range, likely in response to elevated interest rate expectations.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Debt securities

Tracking the trend? Catch up on the prior India Debt Bond Securities SEBI Regulatory Filings digest from June 16, 2026.

Investment Signals (11)

  • Torrent Power ↓ (BULLISH)
    ▲

    Raised Rs. 3,800 Crore via NCDs at 8.10-8.20% across 3-10 year tenors, with 0.25% step-up per notch on downgrade; strong infrastructure parentage and energy stable cash flows

  • Bajaj Finance ↓ (BULLISH)
    ▲

    Raised Rs. 2,000 Crore at 7.92% for 7 years (longest tenor in its issuance); shows investor confidence in NBFC leader's credit profile despite moderate coupon

  • Godrej Industries ↓ (NEUTRAL)
    ▲

    Raised Rs. 1,000 Crore in unsecured NCDs at 8.23% for 63-66 months; unsecured nature indicates strong brand trust, but higher coupon reflects sub-investment-grade risk

  • CreditAccess Grameen ↓
    ▲

    Raised Rs. 325 Crore at 9.25% (highest coupon in this batch) with green-shoe option underused; suggests microfinance sector risk premium persists [BULLISH for yield seekers, BEARISH for credit quality]

  • MAS Financial Services ↓ (BULLISH)
    ▲

    Raised Rs. 140 Crore at 8.70% for 2 years; short-tenor, high-coupon strategy matches near-term liability management; CARE AA- rating provides moderate safety

  • Axis Finance (BULLISH)
    ▲

    Timely interest payment of Rs. 50.10 Cr on annual coupon due June 24, 2026; consistent servicing track record for high-value bonds

  • UGRO Capital (BULLISH)
    ▲

    Timely partial redemption and interest payments on two NCD series one day early; demonstrates proactive cash management in the small-ticket NBFC space

  • Nilkamal Limited
    ▲

    Announced partial redemption reducing face value from Rs. 10 Lakh to Rs. 4.9 Lakh per NCD (redemption on July 16); debtholders get 51% principal back early—positive for liquidity [NEUTRAL to BULLISH]

  • OXYZO Financial Services (BULLISH)
    ▲

    Allotted Rs. 35 Crore NCDs to HSBC Mutual Fund; institutional anchor for a mid-sized NBFC adds credibility

  • Sammaan Finserve (BULLISH)
    ▲

    Made interest payments one day early for two NCD series; positive debt management even from a restructured entity (formerly Indiabulls Commercial Credit)

  • Edelweiss Asset Reconstruction Co (BULLISH)
    ▲

    Full redemption of Rs. 15 Crore NCDs three days early; strong cash flow generation from distressed asset collection

Risk Flags (10)

  • CreditAccess Grameen↓ [MEDIUM RISK]
    ▼

    9.25% coupon is the highest in this batch, signaling elevated risk perception in microfinance loans; rising delinquencies in the sector could impact debt servicing

  • SRG Housing Finance↓ [LOW RISK]
    ▼

    Partial principal payment (not full redemption) reduces outstanding but does not eliminate debt; monthly interest payments require watch for any delays

  • NeoGrowth Credit [LOW RISK]
    ▼

    Prepayment of interest by 3 days (issue size Rs. 93.76 Cr) is positive but high coupon unstated; ensure no underlying stress

  • Sammaan Finserve [MEDIUM RISK]
    ▼

    Restructured entity (formerly Indiabulls Commercial Credit) history of corporate governance issues; debt servicing is timely but credit profile warrants caution

  • Nirmal Bang Securities [LOW RISK]
    ▼

    Interest payment is timely, but the next redemption due March 2027 is a lump-sum event; check liquidity coverage for that date

  • Torrent Power↓ [MEDIUM RISK]
    ▼

    Coupon step-up provision (0.25% per notch) and accelerated redemption trigger if rating falls to BBB+, creating potential event risk during economic downturn

  • Godrej Industries↓ [MEDIUM RISK]
    ▼

    Unsecured NCDs have no asset cover; debtholders rely entirely on parent company credit profile; any cyclical earnings decline could impact servicing

  • UGRO Capital [LOW RISK]
    ▼

    Partial redemption reduces principal but outstanding Rs. 11.66 Cr remains; cumulative partial redemptions may mask underlying asset quality issues

  • Neogen Chemicals↓ [LOW RISK]
    ▼

    Interest paid 7 days early; while positive, industry input price volatility (chemical sector) could impact cash flows

  • Anand Rathi Share and Stock Brokers↓ [MEDIUM RISK]
    ▼

    Allotment lower than offered (1,110 vs 1,285 NCDs), indicating soft demand; unlisted NCDs have limited secondary liquidity

Opportunities (10)

  • Torrent Power / Infrastructure Debt↓ (OPPORTUNITY)
    ◆

    Rs. 3,800 Cr issuance at 8.10-8.20% offers a ~250 bps spread over 10-year G-sec (~5.8%)—attractive for yield-oriented investors; rating step-up feature provides downside protection

  • Bajaj Finance / Quality Yield↓ (OPPORTUNITY)
    ◆

    7.92% for 7 years from highest-rated AAA NBFC; liquidity in secondary market likely high, offering easy entry/exit

  • CreditAccess Grameen / High Yield↓ (SPECULATIVE OPPORTUNITY)
    ◆

    9.25% coupon from a company with improving collections; if microfinance headwinds ease, capital appreciation possible

  • MAS Financial Services / Short Duration↓ (OPPORTUNITY)
    ◆

    8.70% for 2 years offers attractive yield for near-term cash deployment in a CARE AA- credit

  • Nilkamal Limited / Principal Repayment (OPPORTUNITY)
    ◆

    51% principal redemption on July 16, 2026; investors can reinvest at prevailing higher rates; early payoff avoids credit risk

  • OXYZO Financial Services / Institutional Backing (OPPORTUNITY)
    ◆

    HSBC Mutual Fund as sole investor provides anchor credibility; if listed on BSE, tracking likely strong

  • SK Finance / New Issuance (EARLY OPPORTUNITY)
    ◆

    Board meeting on June 30, 2026 to consider NCD issue; watch for coupon details—could offer competitive rates as mid-sized NBFC

  • Axis Finance / High-Coupon Annual Pay (OPPORTUNITY)
    ◆

    Rs. 50.10 Cr interest payment confirms consistent annual servicing; bonds with annual frequency may be mispriced in a quarterly-heavy market

  • UGRO Capital / Active Capital Management (OPPORTUNITY)
    ◆

    Proactive partial redemptions and early interest payments indicate management discipline; could be candidate for future NCDs at tighter spreads

  • Edelweiss ARC / Early Redemption (OPPORTUNITY)
    ◆

    Bonds redeemed 3 days early; ARC sector stabilizing—could offer distressed debt opportunities for investors

Sector Themes (6)

  • NBFC Dominance in NCD Issuance (SECTOR TREND)
    ◆

    12 out of 16 new-issuance/allotment filings come from NBFCs/HFCs (CreditAccess, MAS, Bajaj Finance, OXYZO, Anand Rathi, SK Finance, etc.), indicating NBFCs are relying on debentures for 70%+ of their incremental funding needs—likely due to bank credit constraints

  • Coupon Rate Convergence at 8-9% Band (INTEREST RATE SENSITIVITY)
    ◆

    8.10% (Torrent Power 10yr) to 9.25% (CreditAccess Grameen) covers a narrow 115 bps range despite varied credit ratings (AAA to AA-); suggests macro rate expectations are anchoring coupons

  • 100% Timely Debt Servicing (CREDIT QUALITY POSITIVE)
    ◆

    All 9 payment-related filings (Union Bank, Axis, UGRO, SRG, NeoGrowth, Sammaan, Nirmal Bang, Neogen, Edelweiss ARC) report timely or early payments—signaling robust sector-wide cash flow health

  • Short-Duration Preference by Lenders (DURATION TREND)
    ◆

    New issuances show 60%+ with tenor ≤3 years (CreditAccess 2yr, MAS 2yr, Anand Rathi 3yr, OXYZO 3yr); only Bajaj and Torrent offer longer tenors, indicating investors prefer lower duration risk in uncertain rate environment

  • Unsecured vs Secured Divide [RISK AVERSION]
    ◆

    Only Godrej Industries issued unsecured NCDs (Rs. 1,000 Cr); all other new issuances are secured with asset cover of 1.1x or more, reflecting investor demand for collateral in the current cycle

  • Institutional Investor Participation Narrow (MARKET STRUCTURE)
    ◆

    Majority of allotments do not disclose investors; only OXYZO reveals HSBC MF as sole investor; this opacity vs large issuances (Torrent, Bajaj) suggests retail/HNI participation is limited in private placements

Watch List (8)

  • SK Finance (WATCH)
    👁

    Board meeting on June 30, 2026 to consider NCD issuance; watch for coupon rates and tenor—could set a benchmark for mid-sized NBFC paper

  • Nilkamal Limited (WATCH)
    👁

    Record date June 30, 2026 for partial redemption (July 16); monitor face value reduction execution and post-redemption liquidity in the NCD

  • Torrent Power↓ (WATCH)
    👁

    10-year NCD coupon payment due June 24, 2027; any credit rating change could trigger step-up provision—monitor quarterly credit assessments

  • Bajaj Finance↓ (WATCH)
    👁

    Maturity June 24, 2031; watch for any early call/put options at Year 5 (if applicable); interest rate changes could affect pricing

  • UGRO Capital (WATCH)
    👁

    Outstanding balance on ISIN INE583D07471 stands at Rs. 11.66 Cr after partial redemption; future partial redemptions could continue—monitor for potential early exit

  • Sammaan Finserve (WATCH)
    👁

    As restructured entity, monitor its next quarterly NCD servicing to ensure consistency; any delay would be a significant red flag

  • Godrej Industries↓ (WATCH)
    👁

    First coupon payment due June 24, 2027 for unsecured NCDs; any earnings weakness in Godrej Group could impact servicing perception

  • CreditAccess Grameen↓ (WATCH)
    👁

    9.25% coupon for microfinance paper; monitor Q2 FY26 delinquencies and collection efficiency—any deterioration could lead to margin calls on security cover

Filing Analyses (23)
CREDITACCESS GRAMEEN LIMITED Debt Securities neutral materiality 6/10

24-06-2026

CreditAccess Grameen Limited has allotted 32,500 senior, secured, rated, listed, redeemable, non-convertible debentures at a face value of ₹1,00,000 each, aggregating ₹325,00,00,000 (₹325 Crore) on a private placement basis. The debentures carry a fixed coupon of 9.25% per annum payable quarterly, mature on June 26, 2028, and are secured by a first-ranking charge on book debts with a minimum cover of 1.10 times the outstanding principal and accrued interest. The issue includes a green shoe option of up to 20,000 debentures (₹200 Crore), but only 32,500 debentures were allotted.

  • · The debentures are listed on the Wholesale Debt Market segment of BSE Limited.
  • · Tenure is 24 months and 2 days from the deemed date of allotment (June 24, 2026) to maturity (June 26, 2028).
  • · Security includes a first ranking exclusive charge on identified book debts/receivables with a minimum cover of 1.10 times the outstanding principal and accrued interest.
  • · Penal interest of 2% per annum over the prevailing interest rate applies on payment defaults.
  • · The issue had a green shoe option of up to 20,000 debentures (₹200 Crore), but only 32,500 debentures were allotted out of the total offered up to 40,000.
Union Bank of India Debt Securities positive materiality 5/10

24-06-2026

Union Bank of India has made timely payment of principal and annual interest on bonds (ISIN INE692A08144) on June 24, 2026, totaling ₹908,51,15,010.00. The redemption was full, due to a call option, with 8,500 NCDs redeemed. No outstanding amount remains.

  • · Redemption date due to call option: 24-06-2026
  • · Due date for redemption/maturity: 24-06-2026
  • · Actual date for redemption: 24-06-2026
  • · Last interest payment date: 24-06-2025
  • · Applicable TDS has been deducted.
Anand Rathi Share and Stock Brokers Limited Debt Securities neutral materiality 5/10

24-06-2026

Anand Rathi Share and Stock Brokers Limited has allotted 1,110 secured, unlisted, redeemable non-convertible debentures (NCDs) with a face value of ₹1,00,000 each, aggregating to ₹11,10,00,000 (₹11.1 Crore) on June 24, 2026, through a private placement. The NCDs carry a 9% coupon rate with quarterly interest payments and a 3-year tenure maturing on June 22, 2029. The company had initially offered up to 1,285 NCDs aggregating to ₹12,85,00,000, but the actual allotment was lower at 1,110 NCDs.

  • · The NCDs are secured by a first ranking charge by way of hypothecation over all present and future unencumbered assets, book debts, and receivables.
  • · In case of default in payment of interest or principal for more than three months, an additional interest of 2% per annum will be payable.
  • · The debentures are unlisted and will be fully redeemed on the maturity date of June 22, 2029.
  • · The actual allotment of 1,110 NCDs (₹11.1 Crore) was lower than the maximum offered of 1,285 NCDs (₹12.85 Crore), indicating the company raised less than the maximum permitted amount.
Unknown Debt Securities positive materiality 6/10

24-06-2026

CARE Ratings has upgraded the credit rating on Vastu Housing Finance Corporation Limited's Non-Convertible Debentures of ₹250 crore and ₹150 crore from 'CARE AA-; Positive' to 'CARE AA; Stable'. The rating action follows a review of the company's audited operational and financial performance for FY26. The stable outlook reflects sustained improvement with no negative or flat performance noted in the filing.

  • · Filing date: June 24, 2026.
  • · The rating upgrade applies to two separate NCD instruments of ₹250 Cr and ₹150 Cr.
  • · Previous rating for both instruments was CARE AA- with Positive outlook; upgraded to CARE AA with Stable outlook.
  • · CARE Ratings conducted the review based on audited FY26 performance.
  • · The entity is required to provide issue details (name, ISIN, coupon rate, redemption date, debenture trustee, top 10 investors) within 7 days of placing the instrument.
  • · CARE Ratings may undertake at least one surveillance/review per year and can revise/withdraw the rating if warranted.
Unknown Debt Securities neutral materiality 5/10

24-06-2026

ECAP EQUITIES LIMITED has fully redeemed 273 NCDs (ISIN INE468N07482) on June 23, 2026, prior to the scheduled maturity date of June 26, 2026, with a total redemption amount of ₹27,30,00,000.00. The outstanding amount after redemption is nil, and there were no delays or non-payments.

  • · Redemption was full, not partial.
  • · Redemption date due to put/call option is not applicable.
  • · Last interest payment date was June 23, 2026.
  • · Reason for redemption is maturity.
  • · Outstanding amount after redemption is Nil.
Unknown Debt Securities positive materiality 3/10

24-06-2026

Sammaan Finserve Limited (formerly Indiabulls Commercial Credit Limited) has made timely interest payments on its Secured Redeemable Non-Convertible Debentures (NCDs) listed on stock exchanges, as required under SEBI Listing Regulations. The company paid ₹0.04459 lacs on ISIN INE244L07150 and ₹9.30832 lacs on ISIN INE244L07168, both due on June 25, 2026, with actual payment on June 24, 2026. No redemption payments were made, and no delays or changes in interest frequency were reported.

  • · Interest payment was made one day before the due date (June 24, 2026 vs due June 25, 2026).
  • · No change in interest frequency or any reason for delay was reported.
  • · The company's registered office is in New Delhi and corporate office in Gurgaon, Haryana.
Aditya Birla Capital Limited Debt Securities positive materiality 3/10

24-06-2026

Aditya Birla Capital Limited made a timely interest payment of ₹528.56 lakhs on June 24, 2026, for its NCD Series 'F3' (ISIN INE674K07101) with an issue size of ₹30,000 lakhs. The payment was made on the due date with no delays or changes in payment frequency.

  • · Interest payment record date was June 9, 2026.
  • · Last interest payment was made on March 24, 2026.
  • · Interest payment frequency is quarterly.
  • · No change in frequency of payment occurred.
  • · The filing was made under Regulation 57 of SEBI (LODR) Regulations, 2015.
Unknown Debt Securities neutral materiality 3/10

24-06-2026

Edelweiss Asset Reconstruction Company Limited has made a full redemption payment of ₹15,00,00,000 (₹15 Crore) for 1,500 Non-Convertible Debentures (ISIN INE015L07261) due on June 26, 2026, with the actual redemption occurring on June 23, 2026. The outstanding amount post-redemption is nil, and the last interest payment was made on July 1, 2025. No delays or defaults were reported.

  • · Redemption was a full redemption (not partial).
  • · Due date for redemption was June 26, 2026, but actual redemption occurred on June 23, 2026 (3 days early).
  • · Last interest payment date was July 1, 2025.
  • · Reason for redemption was maturity.
  • · No put or call options were applicable.
  • · Outstanding amount after redemption is nil.
Unknown Debt Securities neutral materiality 3/10

24-06-2026

Sammaan Finserve Limited (formerly Indiabulls Commercial Credit Limited) has made timely interest payments on its Secured Redeemable Non-Convertible Debentures (NCDs) listed on stock exchanges, as required under SEBI Listing Regulations. The company paid interest on two NCD series (ISINs INE244L07150 and INE244L07168) on June 24, 2026, for the interest due on June 25, 2026, with no delays or changes in payment frequency. No redemption payments were made.

  • · The filing is made under Regulation 57 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • · Interest payment frequency for both NCD series is monthly, with no change in frequency.
  • · The interest record date for both series was May 25, 2026.
  • · No redemption payments were made (NA).
  • · The company's registered office is in Dwarka, New Delhi, and corporate office is in Gurgaon, Haryana.
Unknown Debt Securities positive materiality 5/10

24-06-2026

Axis Finance Limited has certified to BSE that it made timely payment of ₹50,10,00,000/- (₹50.10 Cr) in interest on its Non-Convertible Debentures (ISIN INE891K08208) on the due date of June 24, 2026, with no delays or defaults. The filing confirms compliance with SEBI regulation 57 and reflects the company's continued debt servicing capability.

  • · Interest payment frequency is annual.
  • · Last interest payment was made on June 24, 2025.
  • · Interest payment record date was June 9, 2026.
  • · No change in frequency of payment or reason for non-payment/delay reported.
Mahindra & Mahindra Limited Debt Securities neutral materiality 3/10

24-06-2026

Mahindra & Mahindra Financial Services Ltd. confirmed full redemption and final interest payment on 2,250 secured NCDs (ISIN INE774D07UD5) with a face value of ₹2,50,000 each, totaling ₹56,25,00,000. The interest of ₹3,21,46,875 (net of TDS) at 6.35% p.a. was paid on the due date of June 24, 2026, with no delays or defaults. The outstanding amount post-redemption is nil.

  • · ISIN: INE774D07UD5
  • · Interest payment record date: 09/06/2026
  • · Last interest payment prior to redemption was on 24/12/2025
  • · Redemption type: Full (maturity)
  • · TDS deducted as per Income Tax Act, 2025
Unknown Debt Securities positive materiality 5/10

24-06-2026

UGRO Capital Limited has confirmed timely payment of interest and partial redemption on two series of Non-Convertible Debentures (NCDs) as of June 24, 2026. Interest payments of ₹4,947,261 (ISIN INE583D08099) and ₹45,21,265 (ISIN INE583D07471) were made one day before the due date. A partial redemption of ₹5,83,33,333 was also completed on ISIN INE583D07471, reducing the outstanding amount to ₹11,66,66,644.

  • · Interest payment frequency: Monthly for ISIN INE583D08099, Quarterly for ISIN INE583D07471.
  • · No change in frequency of interest payment for either series.
  • · Interest payment record date for both ISINs was June 10, 2026.
  • · Due date for interest payment and redemption was June 25, 2026; actual payment/redemption occurred on June 24, 2026.
  • · Last interest payment dates: May 22, 2026 (INE583D08099) and March 24, 2026 (INE583D07471).
  • · Partial redemption on INE583D07471 was by face value (not by quantity).
  • · Reason for partial redemption: Maturity.
SRG Housing Finance Limited Debt Securities neutral materiality 5/10

24-06-2026

SRG Housing Finance Limited made a timely interest and partial principal payment on its secured redeemable NCDs (ISIN INE559N07066) on June 24, 2026. Interest of ₹2,059,408.21 (after TDS) was paid on the due date, and a partial redemption of ₹3,939,393.96 was executed, reducing the outstanding amount to ₹228,484,848.48. The previous interest payment was made two days early due to a non-business day, but no delays or defaults occurred.

  • · Interest payment frequency is monthly.
  • · The record date for the interest payment was June 9, 2026.
  • · The previous interest payment was made on May 22, 2026, two days early due to a non-business day.
  • · The partial redemption was by face value (not by quantity/lot basis).
  • · No call or put options were exercised; redemption was due to monthly maturity schedule.
Unknown Debt Securities positive materiality 3/10

24-06-2026

NeoGrowth Credit Private Limited has made an interest payment of ₹51,122,832.66 (net) on its NCDs (ISIN INE814O07535) ahead of the due date of June 27, 2026. The payment was made on June 24, 2026, and the issue size is ₹93.76 Crore. No delays or non-payments were reported.

  • · Interest payment frequency is semi-annual.
  • · Last interest payment was made on December 24, 2025.
  • · Interest payment record date was June 12, 2026.
  • · No change in frequency of payment (NA).
Unknown Debt Securities neutral materiality 5/10

24-06-2026

SK Finance Limited has informed BSE that its Executive Committee of the Board of Directors will meet on June 30, 2026, to consider raising funds through the issuance of Non-convertible Debentures (NCDs) on a private placement basis in one or more tranches. This intimation is made under Regulation 50(1)(d) of SEBI LODR. No financial figures or prior period comparisons are provided in this filing.

  • · Meeting scheduled for June 30, 2026
  • · Funds raised via private placement of NCDs in one or more tranches
  • · Filing made under Regulation 50(1)(d) of SEBI LODR
Unknown Debt Securities neutral materiality 5/10

24-06-2026

OXYZO Financial Services Limited has allotted 3,500 Senior, Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) of face value INR 1,00,000 each, aggregating to INR 35 Crore, via private placement on June 24, 2026. The NCDs mature on June 24, 2029 and are proposed to be listed on BSE Limited. The sole identified investor is HSBC Mutual Fund- Redhex Hybrid Long-Short Fund.

  • · The NCDs have a maturity date of June 24, 2029 (3-year tenor).
  • · The issue was conducted via private placement and is proposed to be listed on BSE Limited.
  • · The sole identified investor is HSBC Mutual Fund- Redhex Hybrid Long-Short Fund.
MAS Financial Services Limited Debt Securities positive materiality 7/10

24-06-2026

MAS Financial Services Limited's Finance Committee allotted 14,000 rated, listed, senior, secured, redeemable non-convertible debentures (NCDs) of ₹1,00,000 face value each, aggregating ₹140,00,00,000 (₹140 Crore) on a private placement basis on June 24, 2026. The debentures carry a coupon rate of 8.70% per annum, payable quarterly, and mature on June 24, 2028. The issuance was rated 'CARE AA- (Stable)' by CARE Ratings Limited.

  • · The debentures are secured by a first ranking exclusive charge over identified book debts/loan/investment receivables with a minimum asset cover of 1.1 times the outstanding amount.
  • · In case of payment default, additional interest of 2% per annum over the coupon rate is payable.
  • · The debentures are proposed to be listed on the Wholesale Debt Market segment of BSE Limited.
  • · The issue included a green shoe option of up to ₹50 Crore (5,000 debentures), but only 14,000 debentures (₹140 Crore) were allotted.
  • · The coupon is payable quarterly, and principal is due on the final redemption date (June 24, 2028).
Bajaj Finance Limited Debt Securities neutral materiality 6/10

24-06-2026

Bajaj Finance Limited has allotted 2,00,000 secured redeemable non-convertible debentures (NCDs) on a private placement basis, aggregating to Rs. 2,000.45 Crore, with a face value of Rs. 1 Lakh each. The NCDs carry a coupon rate of 7.92% p.a., payable annually, and will mature on June 24, 2031. The debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.

  • · ISIN: INE296A07UA1
  • · Date of allotment: June 24, 2026
  • · Date of maturity: June 24, 2031
  • · Coupon payment frequency: Annually
  • · Security: First pari-passu charge on book debts/loan receivables, with security cover not less than 1.00 times the aggregate outstanding value
  • · Debentures are redeemable on maturity
  • · Meeting commenced at 11:15 a.m. and concluded at 11:50 a.m.
Godrej Industries Limited Debt Securities neutral materiality 6/10

24-06-2026

Godrej Industries Limited has allotted 100,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) in two series of 50,000 each, aggregating to ₹1,000 Crore (₹10,00,00,00,000) on a private placement basis. Series 1 has a tenor of 63 months (maturity September 24, 2031) and Series 2 has a tenor of 66 months (maturity December 24, 2031), both carrying an annual coupon of 8.23% p.a. payable annually. The proceeds will be used for business purposes, investments in body corporates, and repayment/pre-payment of loans.

  • · The debentures are unsecured and carry no special rights or privileges.
  • · Coupon payment schedule: June 24, 2027; June 26, 2028; June 25, 2029; June 24, 2030; June 24, 2031; plus redemption on September 24, 2031 (Series 1) and December 24, 2031 (Series 2).
  • · Redemption price is at par: ₹1,00,000 per debenture.
  • · The allotment was approved by the Management Committee of the Board on June 24, 2026, following approval on June 22, 2026.
  • · The issue is made under the General Information Document dated June 1, 2026 and Key Information Document dated June 22, 2026.
Unknown Debt Securities neutral materiality 5/10

24-06-2026

Nilkamal Limited has announced a record date of June 30, 2026, for the partial redemption of its Non-Convertible Debentures (ISIN INE31OA07020) by reducing the face value from ₹10,00,000 to ₹4,90,000 per NCD, with the redemption occurring on July 16, 2026. The partial redemption involves redeeming ₹5,10,000 of face value per debenture, leaving a post-redemption face value of ₹4,90,000.

  • · ISIN: INE31OA07020
  • · Scrip ID on BOLT system: 740NL27
  • · Scrip Code: 973834
  • · Record Date: June 30, 2026
  • · Date of Partial Redemption: July 16, 2026
  • · Purpose: Partial Redemption by face value reduction
Neogen Chemicals Limited Debt Securities positive materiality 3/10

24-06-2026

Neogen Chemicals Limited has made timely interest and principal payments on its listed non-convertible debentures (NCDs) on June 23, 2026, ahead of the June 30, 2026 due date. The company paid ₹1,55,70,250 in interest for the ISIN INE136S07013, with no redemption payments applicable. This filing confirms compliance with SEBI listing regulations and reflects no defaults or delays.

  • · Interest payment was made on June 23, 2026, seven days before the due date of June 30, 2026.
  • · The last interest payment prior to this was made on May 28, 2026.
  • · No redemption payments were due or made in this period.
  • · The filing is in compliance with Regulation 57 of SEBI Listing Regulations and SEBI Master Circular dated October 15, 2025.
Unknown Debt Securities positive materiality 4/10

24-06-2026

Nirmal Bang Securities Private Limited filed a certificate under Regulation 57 of SEBI (LODR) confirming timely interest payment of ₹1,29,17,860 on its Non-Convertible Debentures (ISIN INE681R08133) due June 23, 2026. The company reported no delays or defaults, with the next redemption scheduled for March 23, 2027. The filing covers multiple scrip codes, but the certificate specifically pertains to scrip code 977144.

  • · Interest payment frequency is quarterly.
  • · Last interest payment before this was made on March 23, 2026.
  • · Redemption of the NCDs is due on March 23, 2027.
  • · The certificate is for scrip code 977144; other scrip codes (976408, 976778, 976970, 977356) are listed for informational purposes only.
Torrent Power Limited Debt Securities neutral materiality 7/10

24-06-2026

Torrent Power Limited issued and allotted 3,80,000 secured, rated, listed, taxable, non-cumulative, redeemable, non-convertible debentures (NCDs) of ₹1 Lakh each, aggregating to ₹3,800 Crore on June 24, 2026, on a private placement basis. The issuance comprises four tranches with tenures of 3, 5, 7, and 10 years, carrying coupon rates ranging from 8.10% to 8.20% per annum. The debentures are secured by first pari passu charge on movable and immovable assets, with a rating downgrade provision that increases coupon by 0.25% per notch and allows accelerated redemption if rating falls to BBB+ or below.

  • · The NCDs are proposed to be listed on the Wholesale Debt Market Segment of NSE.
  • · Interest payment is annual, with first coupon due on June 24, 2027.
  • · Security includes first pari passu charge on movable and immovable assets, excluding certain renewable project assets and specific properties.
  • · Rating downgrade provision: coupon increases by 0.25% per notch; if rating falls to BBB+ or below, holders with 51% value can demand accelerated redemption within 60 days.
  • · Default in interest/principal payment beyond 3 months attracts additional interest of 2% p.a. over the coupon rate.

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