Description

BSE announces the listing of six series of secured redeemable non-convertible debentures issued by SMC Global Securities Limited with varying coupon rates and maturity periods.

Summary

BSE has announced the listing of six series of secured, redeemable, listed, non-convertible debentures issued by SMC Global Securities Limited. The debentures were allotted on October 30, 2025, with varying interest payment frequencies (annual, cumulative, and monthly), coupon rates ranging from 9.75% to 10.25%, and maturity periods between 1 to 5 years. All series carry ICRA A Stable credit rating.

Key Points

  • Total of 1,338,586 NCDs issued across six series (Series I-VI)
  • Face value and issue price: Rs. 1,000 per NCD (except Series II and IV which are issued at premium)
  • Coupon rates: 9.75%, 10.00%, 9.80%, and 10.25% per annum
  • Interest payment frequencies: Annual (Series I, III, VI), Cumulative (Series II, IV), Monthly (Series V)
  • Date of allotment: October 30, 2025
  • Credit rating: ICRA A Stable
  • Market lot: One NCD
  • No put/call options available

Series Details

Series I (Scrip Code: 940717, ISIN: INE103C07181)

  • 2,69,477 NCDs | 9.75% annual coupon | Maturity: October 30, 2027

Series II (Scrip Code: 940719, ISIN: INE103C07132)

  • 1,81,516 NCDs | 9.75% cumulative | Issue price: Rs. 1,204.51 | Maturity: October 30, 2027

Series III (Scrip Code: 940721, ISIN: INE103C07140)

  • 2,37,758 NCDs | 10.00% annual coupon | Maturity: October 30, 2028

Series IV (Scrip Code: 940723, ISIN: INE103C07157)

  • 96,496 NCDs | 10.00% cumulative | Issue price: Rs. 1,331.00 | Maturity: October 30, 2028

Series V (Scrip Code: 940725, ISIN: INE103C07173)

  • 3,04,827 NCDs | 9.80% monthly coupon | Maturity: October 30, 2030 | First interest: December 1, 2025

Series VI (Scrip Code: 940727, ISIN: INE103C07165)

  • 2,48,512 NCDs | 10.25% annual coupon | Maturity: October 30, 2030

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

No specific compliance requirements for market participants. The listing is for informational purposes to notify investors and market participants about the availability of these debt securities for trading.

Important Dates

  • Date of Allotment: October 30, 2025
  • First Interest Payment (Series V only): December 1, 2025
  • First Interest Payment (Other Series): October 30, 2026
  • Redemption Dates:
    • Series I & II: October 30, 2027
    • Series III & IV: October 30, 2028
    • Series V & VI: October 30, 2030

Impact Assessment

Market Impact: Minimal. This is a routine debt securities listing that provides fixed-income investment options for institutional and retail investors seeking exposure to debt instruments issued by SMC Global Securities Limited.

Investor Impact: Investors seeking fixed-income securities can now trade these NCDs on BSE. The variety of series offers different maturity profiles and interest payment frequencies to suit different investment preferences.

Liquidity: With market lot of one NCD and listing on BSE, these securities will be available for secondary market trading, though liquidity will depend on investor interest and trading volumes.

Impact Justification

Routine listing of debt securities by a financial services company with no broader market implications