Description

Midland Microfin Limited has listed 3,500 secured redeemable non-convertible debentures with 13.75% interest rate on BSE Debt segment, maturing on December 15, 2028.

Summary

BSE has announced the listing of new debt securities issued by Midland Microfin Limited on a private placement basis, effective December 15, 2025. The securities are secured redeemable non-convertible debentures with a face value of Rs. 1,00,000 each, carrying an interest rate of 13.75% per annum with monthly interest payments. The debentures have been rated CARE BBB+/Negative and will mature on December 15, 2028.

Key Points

  • Quantity: 3,500 debentures listed
  • Scrip Code: 977369, Scrip ID: 1375MML28
  • ISIN: INE884Q08291
  • Face Value: Rs. 1,00,000 per debenture
  • Issue Price: Rs. 1,00,000 (at par)
  • Interest Rate: 13.75% per annum
  • Interest Payment: Monthly from January 15, 2026 to December 15, 2028
  • Credit Rating: CARE BBB+/Negative
  • Market Lot: 1 debenture
  • Trading Mode: Dematerialized form only
  • Tick Size: 1 paise

Regulatory Changes

No regulatory changes announced. This is a standard listing notification.

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form under ISIN INE884Q08291
  • The tick size of 1 paise must be adhered to for all trades
  • Trading members should refer to the Placement Memorandum available on BSE website for complete details
  • For clarifications, trading members may contact BSE debt department at 22728352/8597/8995/5753/8915

Important Dates

  • Date of Allotment: December 12, 2025
  • Listing Date: December 15, 2025
  • First Interest Payment: January 15, 2026
  • Interest Payment Frequency: Monthly (15th of each month)
  • Final Interest Payment: December 15, 2028
  • Maturity/Redemption Date: December 15, 2028

Impact Assessment

This is a routine debt listing with limited market-wide impact. The listing adds 3,500 debentures worth Rs. 35 crores to the BSE Debt segment. The securities are issued on private placement basis and will primarily interest institutional investors and high net-worth individuals given the high face value of Rs. 1 lakh per debenture. The BBB+ rating with negative outlook indicates moderate credit quality with some concerns. The relatively high coupon rate of 13.75% reflects the credit profile of the microfinance NBFC issuer. This listing provides additional investment options in the debt market but is unlikely to have significant broader market implications.

Impact Justification

Routine debt security listing notification for private placement NCDs of an NBFC-MFI with limited market-wide impact