Issue of NCDs on Private Placement Basis and Foreign Currency Denominated Bonds under ECB Framework
FUNDRAISE
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 14 Jul 2026, 05:27 PM IST · BSE ID: 47b89f57-bd4b-4467-8706-137f9d361378
View Original BSE Filing (PDF)
💡
In Simple Terms
The company plans to raise funds by issuing new debt instruments through private sales to investors.
🤖 AI Summary
- Mufin Green Finance approves issuance of INR 75 Cr NCDs and USD 6 Mn ECB bonds.
- NCDs offer 10% coupon rate with monthly interest payments.
- ECB bonds offer 6 Months CME SOFR + 450 bps with semi-annual interest.
- NCDs secured by charge on identified receivables; Bonds by first ranking charge.
🔢 Key Numbers — exact figures from BSE filing, not rounded
NCDs Issuance Size
INR 75,00,00,000
ECB Bonds Issuance Size
USD 6,000,000
ECB Bonds Tenure
36 Months
🏢 How This Affects the Company
This fundraise supports Mufin Green Finance's expansion and operational growth in the green finance sector.
The issuance of NCDs and ECB bonds will enhance the company's capital base, impacting its debt-to-equity ratio and liquidity.
Diversifying funding sources via ECB can mitigate currency fluctuation risks associated with foreign currency denominated debt.
👥 What This Means For Shareholders
✅
Action Required
No action is required from shareholders as this is a debt issuance.
👤
Who Is Affected
Existing shareholders are not directly affected by this debt issuance, which primarily impacts the company's capital structure.
🔍
Management Signal
Management signals a proactive approach to capital raising and diversification of funding sources to fuel growth.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Confirmation of NCD and ECB bond allotment details and investor commitments.
Subsequent filings detailing the utilization of funds raised.
Interest payment commencement dates and adherence to schedules.
MEDIUM RISK
Fundraising via debt introduces interest rate risk and repayment obligations.
💡 Investor Takeaway
Mufin Green Finance is raising INR 75,00,00,000 via 10% NCDs and USD 6,000,000 via ECB bonds through private placement, enhancing its capital structure.
⚖️ Strengths & Concerns
✅ Positives
- Secured NCDs provide collateralization, enhancing investor confidence for the INR 75,00,00,000 issuance.
- Dual currency funding (INR and USD) diversifies capital sources for operational flexibility.
⚠️ Concerns
- The coupon rate of 10% on NCDs and SOFR+450 bps on ECB bonds represent costs that will impact profitability.
- Dependence on private placement means reliance on investor appetite and market conditions for fundraising.
📅 Company Track Record
Mufin Green Finance previously raised INR 19 Crore and INR 100 Crore via NCDs in June 2026, indicating regular use of debt instruments for funding.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the total amount Mufin Green Finance plans to raise through NCDs?
Mufin Green Finance plans to issue Non-Convertible Debentures (NCDs) for an aggregate amount up to INR 75,00,00,000.
What is the coupon rate for the proposed NCDs?
The Non-Convertible Debentures (NCDs) will have a coupon rate of 10% with monthly interest payments.
What is the size of the foreign currency denominated bonds Mufin Green Finance will issue?
The company approved the issuance of foreign currency denominated bonds under the ECB framework for an amount up to USD 6,000,000.
Where will the NCDs and ECB bonds be listed?
The NCDs will be listed on BSE Limited, and the Bonds will be listed on India International Exchange (IFSC) Ltd.
What security is backing the NCDs?
The NCDs shall be secured by a first and exclusive charge on identified receivables, by way of hypothecation.
Questions based on this BSE filing only. For information purposes.