Allotment of 2.12 lakh Secured Redeemable NCDs aggregating Rs. 2,120 crore
Bajaj Finance allotted 2.12 lakh Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis.
By ScoutQuest · · 2 min read
- NCDs Allotted
- 2.12 lakh Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis
- Issue Size
- Face value Rs. 1 Lakh each, total Rs. 2,120 crore
- Tenor / Maturity
- Allotted 21 October 2026, maturing 21 October 2031 — tenure 1,826 days; Zero Coupon
What was announced
The Debenture Allotment Committee of the company, at its meeting held on 21 October 2026, allotted 2.12 lakh Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. Each NCD has a face value of Rs. 1 Lakh, taking the aggregate issue size to Rs. 2,120 crore.
Key terms of the issue
- Tenure of 1,826 days, with the date of allotment on 21 October 2026 and maturity on 21 October 2031.
- Coupon is Zero Coupon. Under the schedule of payment, coupon/interest is shown as not applicable, and principal is payable on 21 October 2031.
- The debentures are redeemable on maturity.
- No special rights or privileges are attached to the instrument.
- Delay or default in payment of interest or principal is marked as not applicable.
Security and listing
Repayment of the debentures, interest thereon, trustees' remuneration and all other related monies are secured by a first pari-passu charge on book debts/loan receivables. The update states that this security cover shall not be less than 1.00 time the aggregate outstanding value of debentures issued under the Shelf Placement Memorandum. The debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.
How to read this
- This is a borrowing by the company through debt securities placed privately with investors, not a public offer. Retail investors are not subscribing to these NCDs, so this is not an opportunity to buy the instrument.
- A zero coupon structure means no periodic interest is paid out during the life of the instrument; the principal is repaid at maturity, on 21 October 2031.
- The security is a charge over the company's loan receivables, and the stated minimum cover is 1.00 time, which is the threshold at which assets backing the debentures equal the outstanding amount.
- For shareholders, the announcement is a funding update: it indicates fresh debt raised on the terms above. The update gives the cost structure only as zero coupon and does not set out any pricing beyond that.
Meeting details
The committee meeting commenced at 11:45 hrs and concluded at 12:15 hrs on 21 October 2026.
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More numbers
- NCDs allotted2,12,000
- Face value per NCDRs. 1 Lakh
- Aggregate issue sizeRs. 2,120 crore
- Tenure of the instrument1,826 Days
- Minimum security cover1.00 time
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