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Latest filing: 2026-10-13 11:10
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Note: These are AI-generated, educational summaries of public NSE
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Verify against the original filing and consult a SEBI-registered adviser before acting.
35 announcements match the current filters (relevance ≥ 5).
SMC Global Allots ₹150 Cr Secured NCDs Following Public Issue Oversubscription
SMC Global Securities has approved the allotment of 15,00,000 secured NCDs of face value ₹1,000 each, raising ₹150 crore. The issuance exercised its full green shoe option above the base issue size of ₹75 crore after receiving gross applications for 16.71 lakh NCDs. The NCDs carry coupons ranging from 9.50% to 10.00% across tenors of 24, 36, and 60 months and will be listed on BSE. This fundraise represents ~11.5% of the company's existing total debt of ₹1,309 crore.
Confidence: HIGH
What changedSMC Global has concluded and allotted its public issue of secured redeemable NCDs, securing ₹150 crore in long-term debt.
Why it mattersThe fundraise locks in term borrowing at 9.50%–10.00% yields to fund working capital, trade receivables, and growing MTF books, expanding leverage on an existing debt base of ₹1,309 crore.
Total Issue Size Allotted: Rs. 15,000 LakhIssue vs Total Debt: ~11.5%Issue vs Market Cap: ~6.2%Coupon Range: 9.50% to 10.00%Security Cover: 110%
📅 Short termNeutral liquidity event; trading begins on the BSE following regulatory listing confirmation.
📈 Long termDiversifies liabilities away from purely short-term bank borrowings, providing stable 2- to 5-year funding for client financing and MTF portfolios.
⚠ Risk flags
- Increases leverage on an already leveraged balance sheet (pre-issue D/E of 1.29x)
- Borrowing cost is relatively high at 9.50%–10.00% per annum
Key Highlights
Approved allotment of 15,00,000 NCDs at face value of ₹1,000 each, raising ₹15,000 lakh (₹150 crore)
Exercised full ₹7,500 lakh green shoe option over the ₹7,500 lakh base issue size
Coupons range between 9.50% and 10.00% per annum across 24, 36, and 60-month tenors
Asset cover secured at a minimum of 110% over Trade Receivables and Margin Trading Facility (MTF) assets
Received 5,089 gross applications for 16,70,819 NCDs, with final allotment made to 5,057 applicants
👀 What to Watch
Track listing of the debentures on the BSE and monitor how the proceeds deploy into the Margin Trading Facility (MTF) book to support interest income in upcoming quarterly results.
SMC Global Approves Early Closure of up to ₹150 Cr Public NCD Issue on Oct 9
SMC Global Securities has approved the early closure of its public issuance of Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) on October 09, 2026, ahead of the scheduled closure date of October 16, 2026. The issue has a base size of ₹75 crore (₹7,500 lakh) with a green shoe option of ₹75 crore, aggregating up to ₹150 crore (₹15,000 lakh). The total issue size represents ~11.5% of the company's current debt of ₹1,309 crore. The early closure indicates strong subscription demand for the debt securities.
Confidence: HIGH
What changedThe NCD committee resolved to advance the issue closing date from October 16, 2026, to October 09, 2026.
Why it mattersEarly closure reflects healthy investor demand, helping the company secure up to ₹150 crore in long-term debt capital to fund NBFC or financing operations.
Base Issue Size: Rs. 7,500 LakhGreen Shoe Option: Rs. 7,500 LakhTotal Issue Limit: Rs. 15,000 LakhFace Value per NCD: Rs. 1,000/-Issue vs Total Debt: ~11.5%
📅 Short termSignals positive market appetite for SMC's paper; trading sentiment may see mild support following successful fundraising completion.
📈 Long termProvides incremental balance-sheet funding for lending and working capital operations, though it incrementally increases leverage on a D/E base of 1.29.
⚠ Risk flags
- Incremental interest servicing burden on existing debt of ₹1,309 crore
Key Highlights
Early closure approved for October 09, 2026, ahead of the original October 16, 2026 schedule
Base issue size of ₹7,500 lakh (₹75 crore) with a green shoe option of up to ₹7,500 lakh (₹75 crore)
Total issue limit stands at up to ₹15,000 lakh (₹150 crore) across 15,00,000 NCDs of face value ₹1,000 each
Total issue size represents ~11.5% of existing total debt of ₹1,309 crore
👀 What to Watch
Track the final subscription figures and listing details of the NCDs, alongside the cost of funds and utilization towards business growth in upcoming quarterly disclosures.
SMC Global and Subsidiary Acquire 26.68% Stake in S. K. Offset for ~Rs 25.9 Crore
SMC Global Securities, along with its wholly owned subsidiary Moneywise Financial Services, has acquired a 26.68% stake (20,66,000 equity shares) in newly listed SME entity S. K. Offset Limited. SMC Global acquired a 14.27% stake via market-maker allotment (1,20,000 shares at Rs 125) and open market purchases (9,85,000 shares at Rs 125.99). Moneywise Financial Services took an additional 12.41% stake via Anchor and QIB IPO allotments totaling Rs 12.01 crore. The total investment of ~Rs 25.9 crore is routine operational deployment, representing ~1.3% of SMC's TTM revenue of Rs 1,967 crore.
Confidence: HIGH
What changedSMC Global Securities and its subsidiary crossed the 5% ownership threshold to aggregate a 26.68% equity holding in SME-listed S. K. Offset Limited.
Why it mattersThe acquisition arises from SMC's role as Market Maker and institutional investor in the SME IPO, deploying ~Rs 25.9 crore of capital, which carries short-term marked-to-market exposure.
Total stake acquired: 26.68%Total shares acquired: 20,66,000IPO issue price: Rs.125 per equity shareOpen market purchase price: Rs. 125.99 per equity shareTarget FY26 revenue: Rs. 67.00 croreTotal deal value vs TTM revenue: ~1.32%
📅 Short termNeutral impact on stock; SMC's balance sheet will see minor marked-to-market fluctuations based on the trading performance of S. K. Offset on the BSE SME platform.
📈 Long termLimited; this is part of normal merchant banking and market-making activities rather than a core strategic consolidation.
⚠ Risk flags
- Market-making inventory price risk on SME exchange
- Liquidity constraints inherent to SME platform stocks
Key Highlights
Acquired 20,66,000 equity shares representing 26.68% of post-IPO equity share capital of S. K. Offset Limited
SMC Global directly holds 14.27% (11,05,000 shares) through 1,20,000 IPO market-maker shares and 9,85,000 open-market shares at Rs 125.99 each
Subsidiary Moneywise Financial Services holds 12.41% (9,61,000 shares) via Anchor (4,20,000) and QIB (5,41,000) IPO allocations at Rs 125 per share
Total capital deployed across both entities stands at approximately Rs 25.9 crore
Target entity S. K. Offset reported restated total income of Rs 67.00 crore in FY 2025-26
👀 What to Watch
Monitor how SMC Global manages and winds down or holds its market-making inventory over the regulatory 3-year commitment, and assess marked-to-market impacts in upcoming quarterly results.
SMC Global Files Prospectus for Up to ₹150 Cr Public NCD Issue
SMC Global Securities Limited has filed a prospectus for a public issue of secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) of face value ₹1,000 each. The issue comprises a base size of up to ₹7,500 lakh (₹75 crore) with a green shoe option to retain oversubscription of up to ₹7,500 lakh, aggregating up to ₹15,000 lakh (₹150 crore). The NCDs are rated 'ICRA A Stable' by ICRA Limited for up to ₹51,279 lakh and are proposed to be listed on the BSE. The total issue size represents ~7.3% of the company's current market capitalization of ₹2,048 crore.
Confidence: HIGH
What changedSMC Global Securities has finalized and submitted its formal Prospectus to SEBI and BSE for a public NCD issue of up to ₹150 crore.
Why it mattersThe fundraise expands the company's debt capital base (existing debt: ₹1,309 crore) to support lending operations or liquidity, without diluting equity shareholders.
Base Issue Size: ₹7,500 LakhTotal Issue Size (incl. Green Shoe): ₹15,000 LakhIssue Size vs Market Cap: ~7.3%Face Value per NCD: ₹1,000Credit Rating: ICRA A Stable
📅 Short termSubscription response and exact coupon rates will indicate investor demand and borrowing cost competitiveness for SMC Global.
📈 Long termProvides incremental balance sheet funding to scale financing operations such as NBFC activities, though existing leverage (D/E 1.29) will increase slightly.
⚠ Risk flags
- Incremental debt burden on a company with existing debt of ₹1,309 crore (D/E: 1.29)
- Issue is not proposed to be underwritten
Key Highlights
Base issue size of ₹7,500 lakh (₹75 crore) with a green shoe option of up to ₹7,500 lakh, totaling up to ₹15,000 lakh (₹150 crore)
Face value of ₹1,000 per NCD, aggregating up to 15,00,000 NCDs
Instruments rated 'ICRA A Stable' by ICRA Limited for an amount of up to ₹51,279.00 lakh
Received in-principle listing approval from BSE on September 18, 2026
👀 What to Watch
Track the opening and closing subscription dates, final tranche pricing/coupon rates, and how proceeds are deployed into NBFC lending books or general corporate purposes.
SMC Global Files Prospectus for Up to ₹150 Cr Public NCD Issue
SMC Global Securities Limited has filed a prospectus for a public issue of secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) of face value ₹1,000 each. The issue comprises a base size of up to ₹7,500 lakh (₹75 crore) with a green shoe option to retain oversubscription of up to ₹7,500 lakh, aggregating up to ₹15,000 lakh (₹150 crore). The NCDs are rated 'ICRA A Stable' by ICRA Limited for up to ₹51,279 lakh and are proposed to be listed on the BSE. The total issue size represents ~7.3% of the company's current market capitalization of ₹2,048 crore.
Confidence: HIGH
What changedSMC Global Securities has finalized and submitted its formal Prospectus to SEBI and BSE for a public NCD issue of up to ₹150 crore.
Why it mattersThe fundraise expands the company's debt capital base (existing debt: ₹1,309 crore) to support lending operations or liquidity, without diluting equity shareholders.
Base Issue Size: ₹7,500 LakhTotal Issue Size (incl. Green Shoe): ₹15,000 LakhIssue Size vs Market Cap: ~7.3%Face Value per NCD: ₹1,000Credit Rating: ICRA A Stable
📅 Short termSubscription response and exact coupon rates will indicate investor demand and borrowing cost competitiveness for SMC Global.
📈 Long termProvides incremental balance sheet funding to scale financing operations such as NBFC activities, though existing leverage (D/E 1.29) will increase slightly.
⚠ Risk flags
- Incremental debt burden on a company with existing debt of ₹1,309 crore (D/E: 1.29)
- Issue is not proposed to be underwritten
Key Highlights
Base issue size of ₹7,500 lakh (₹75 crore) with a green shoe option of up to ₹7,500 lakh, totaling up to ₹15,000 lakh (₹150 crore)
Face value of ₹1,000 per NCD, aggregating up to 15,00,000 NCDs
Instruments rated 'ICRA A Stable' by ICRA Limited for an amount of up to ₹51,279.00 lakh
Received in-principle listing approval from BSE on September 18, 2026
👀 What to Watch
Track the opening and closing subscription dates, final tranche pricing/coupon rates, and how proceeds are deployed into NBFC lending books or general corporate purposes.
SMC Global Approves Public Issue of Secured NCDs up to ₹150 Crore
SMC Global Securities approved the prospectus for a public issuance of secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) aggregating up to ₹150 crore (base issue of ₹75 crore with a green shoe option of ₹75 crore). The issue represents approximately 11.5% of the company's existing debt of ₹1,309 crore and 7.3% of its market capitalization (₹2,048 crore). The NCDs carry an 'ICRA A Stable' credit rating and will be secured by a pari passu charge over trade receivables and MTF assets with a minimum asset cover of 110%. The instruments will be listed on BSE.
Confidence: HIGH
What changedSMC Global's NCD Committee has formally approved the prospectus for public debt issuance up to ₹150 crore, following in-principle BSE approval received on September 18, 2026.
Why it mattersThe fundraise bolsters SMC Global's balance sheet liquidity to support margin trading facility (MTF) books and working capital, though it will moderately raise aggregate debt.
Total Issue Size (including Green Shoe): ₹ 15,000 lakhBase Issue Size: ₹ 7,500 lakhFundraise vs Total Debt: ~11.5%Credit Rating: ICRA A StableMinimum Security Cover: 110%
📅 Short termSubscription response to the public issue and final coupon rates will indicate market cost of funds for the company's lending and broking operations.
📈 Long termProvides diversified long-term funding sources for expanding its MTF and financial services distribution footprint.
⚠ Risk flags
- Increase in leverage on an existing debt base of ₹1,309 crore (D/E ratio of 1.29)
- Pari passu encumbrance on trade receivables and MTF loan assets
Key Highlights
Base issue size of ₹7,500 lakh (₹75 crore) with a green shoe option of ₹75 lakh (₹75 crore), totaling up to ₹15,000 lakh (₹150 crore)
Face value of ₹1,000 per NCD, proposed to be listed on BSE Limited
Secured by a pari passu charge over trade receivables and MTF book with a minimum security cover of 110%
Rated 'ICRA A Stable' by ICRA Limited for an aggregate debt program of up to ₹51,279 lakh
👀 What to Watch
Track the upcoming issue opening and closing dates, along with coupon rates and tenor details disclosed in the final filed prospectus.
SMC Global Files Draft Prospectus for Public NCD Issue of Up to ₹150 Crore
SMC Global Securities has filed a Draft Prospectus for a public issue of secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) aggregating up to ₹150 crore. The issue comprises a base size of ₹75 crore with a greenshoe option of another ₹75 crore at a face value of ₹1,000 per NCD. The instruments carry an 'ICRA A Stable' rating by ICRA Limited for an amount up to ₹51,279 lakh. The proposed fundraise represents ~8.7% of the company's current market capitalisation of ₹1,726 crore and will support its lending and working capital operations.
Confidence: HIGH
What changedSMC Global Securities initiated a public debt raise of up to ₹150 crore by filing its Draft Prospectus with BSE and SEBI.
Why it mattersProvides diversification to the company's borrowing mix at fixed coupon rates to fund NBFC and working capital needs, against existing debt of ₹1,309 crore.
Base Issue Size: ₹7,500 LakhTotal Issue Size (with Greenshoe): ₹15,000 LakhIssue Size vs Market Cap: ~8.69%Rated Amount by ICRA: ₹51,279.00 LakhFace Value per NCD: ₹1,000
📅 Short termDraft filing initiates a 1-day public comment window; pricing and coupon terms will determine retail investor uptake upon formal launch.
📈 Long termIncremental debt will increase total leverage (D/E currently 1.29) while funding NBFC credit expansion like Micro-LAP and working capital.
⚠ Risk flags
- Adds to existing debt burden of ₹1,309 crore
- Interest rate risk depending on final coupon pricing versus borrowing yields
Key Highlights
Base issue size of ₹7,500 lakh (₹75 crore) with a greenshoe option of up to ₹7,500 lakh, aggregating up to ₹15,000 lakh (₹150 crore)
Instruments are secured, rated, redeemable NCDs with a face value of ₹1,000 each proposed to be listed on BSE
Credit rating assigned is 'ICRA A Stable' for an amount of up to ₹51,279.00 lakh as of September 14, 2026
Approved by the NCD Committee on September 15, 2026, and open for public comments for 1 day
👀 What to Watch
Track the final prospectus for exact coupon rates, tenor brackets, and subscription dates once RoC approval is secured.
SMC Global Files Draft Prospectus to Raise up to ₹150 Cr via Public Issue of NCDs
SMC Global Securities has submitted a Draft Prospectus for a public issue of secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) of face value ₹1,000 each. The issue has a base size of ₹7,500 lakh (₹75 crore) with a green shoe option to retain oversubscription of up to ₹7,500 lakh, aggregating up to ₹15,000 lakh (₹150 crore). The proposed issuance has been assigned a credit rating of 'ICRA A Stable' for an amount up to ₹51,279.00 lakh. The maximum issue size represents ~8.7% of the company's current market cap of ₹1,726 crore and ~11.5% of its total debt of ₹1,309 crore.
Confidence: HIGH
What changedSMC Global submitted its Draft Prospectus to BSE and SEBI for raising up to ₹150 crore through a public issue of secured NCDs.
Why it mattersThe funds will expand the company's borrowing base and liquidity profile, relevant for supporting lending activities in its NBFC arm and working capital needs.
Base Issue Size: ₹7,500 LakhsGreen Shoe Option: ₹7,500 LakhsTotal Issue Size: ₹15,000 LakhsFundraise vs Market Cap: ~8.7%Fundraise vs Total Debt: ~11.5%
📅 Short termNeutral market impact expected as the coupon rate and commercial launch timelines will be clarified in the final prospectus.
📈 Long termAssists the company in diversifying liability sources to fund ongoing operations and its NBFC financing activities.
⚠ Risk flags
- Incremental interest expense burden dependent on the final coupon rate
- Current debt-to-equity already stands at 1.29
Key Highlights
Base issue size of ₹7,500 lakh with a green shoe option of ₹7,500 lakh, aggregating up to ₹15,000 lakh (₹150 crore)
NCDs carry a face value of ₹1,000 each with up to 15,00,000 debentures on offer
Assigned 'ICRA A Stable' credit rating by ICRA Limited for an amount of up to ₹51,279.00 lakh
Draft Prospectus open for public comments for 1 day following submission on September 15, 2026
Fundraise represents ~11.5% of the company's existing debt load of ₹1,309 crore
👀 What to Watch
Track the filing of the final prospectus for specific coupon rates, tenure, subscription dates, and intended utilization of proceeds.
SMC Global Approves Public NCD Issue Up to ₹150 Cr (Base Issue ₹75 Cr)
SMC Global Securities' NCD Committee has approved the Draft Prospectus and terms for a public issue of secured, rated NCDs. The issuance has a base issue size of ₹75 crore with a green shoe option of ₹75 crore, aggregating up to ₹150 crore. The maximum issue size of ₹150 crore represents approximately 8.7% of the company's market cap (₹1,726 crore) and 11.5% of total debt (₹1,309 crore). The debentures carry a face value of ₹1,000 each and will be secured by a pari passu charge on trade receivables and Margin Trading Facility (MTF) assets.
Confidence: HIGH
What changedApproval of the Draft Prospectus and issue terms by the NCD Committee following initial Board approval on July 26, 2026.
Why it mattersProvides diversification of funding sources to support working capital and MTF book expansion, adding up to ₹150 crore in leverage.
Base Issue Size: Rs. 7,500 LakhTotal Issue Size (with Greenshoe): Rs. 15,000 LakhFace Value per NCD: Rs. 1000/-Issue size vs Market Cap: ~8.7%Issue size vs Existing Debt: ~11.5%
📅 Short termNeutral market impact as coupon pricing and issue opening dates remain to be specified in the final prospectus.
📈 Long termSupports the expansion of the Margin Trading Facility (MTF) book and general business operations, though it increases gross debt from ₹1,309 crore.
⚠ Risk flags
- Incremental debt burden on an existing D/E of 1.29
- Coupon rate and repayment tenure not yet disclosed in the filing
Key Highlights
Base issue size of ₹7,500 lakh (₹75 crore) with a green shoe option of ₹7,500 lakh (₹75 crore)
Total issue size aggregates up to ₹15,000 lakh (₹150 crore) or 15,00,000 NCDs of face value ₹1,000 each
Secured via pari passu charge over Trade Receivables and MTF book of the company
Instruments proposed to be listed on BSE Limited; Draft Prospectus to be filed with BSE and SEBI
👀 What to Watch
Watch for the filing of the final prospectus to evaluate the coupon rates, tenures, and credit ratings of the NCDs relative to current borrowing costs.
22.3% PAT Growth in Q1 FY27; SMC Global Reports ₹515 Cr Revenue and NBFC AUM of ₹1,025 Cr
SMC Global reported a 21.2% YoY increase in operational income to ₹515.1 cr for Q1 FY27, driven by growth across its broking and insurance segments. Net profit rose 22.3% YoY to ₹36.7 cr, while EBITDA grew 6.9% YoY to ₹107 cr. The NBFC arm maintained an AUM of ₹1,025 cr and achieved a 25 bps reduction in borrowing costs. Management highlighted a 4x revenue growth in its discount broking arm, Stoxkart, and a total client base of 13.8 lakh.
Confidence: HIGH
What changedThe company released its Q1 FY27 earnings transcript, detailing segment-level performance and a strategic focus on AI and Gift City operations.
Why it mattersThe results demonstrate successful revenue diversification into insurance and NBFC segments, which helps hedge against the cyclicality and regulatory risks of the core broking business.
Q1 FY27 Revenue: ₹515.1 crQ1 FY27 PAT: ₹36.7 crNBFC AUM: ₹1,025 crStoxkart Revenue Growth: 4x YoYCost of Borrowing Reduction: 25 bps
📅 Short termThe stock may see positive sentiment due to the 22% PAT growth and the significant scaling of the discount broking arm.
📈 Long termThe shift towards a 'supermarket' model (Insurance, NBFC, Wealth) and expansion into Gift City provides structural stability, though declining market share in retail cash/F&O remains a long-term challenge.
⚠ Risk flags
- Regulatory changes in F&O segment impacting 55% of NOI
- Declining market share in retail cash (0.6%) and F&O (0.3%)
- High debt-to-equity ratio of 1.29
Key Highlights
Consolidated operational income grew 21.2% YoY to ₹515.1 cr in Q1 FY27
Profit After Tax (PAT) increased 22.3% YoY to ₹36.7 cr from ₹30 cr in the previous year
NBFC AUM reached ₹1,025 cr with a 25 bps reduction in weighted cost of funds
Stoxkart (discount broking) revenue grew 400% (4x) compared to the previous year
Broking DP Assets Under Advice (AUA) expanded to ₹1,64,962 cr with 13.8 lakh accounts
👀 What to Watch
Monitor the sustainability of the 4x growth in Stoxkart and the impact of SEBI's F&O regulatory changes on the broking segment's future volumes and margins.
22.3% YoY PAT Growth in Q1 FY27; Insurance Broking Revenue Surges 44.4%
SMC Global reported a strong start to FY27 with consolidated revenue growing 21.2% YoY to ₹515.1 Cr. Net profit (PAT) rose 22.3% YoY to ₹36.7 Cr, marking a significant 70.7% recovery on a QoQ basis. The growth was primarily led by the Insurance Broking segment, which saw a 44.4% revenue jump, while the core Broking segment grew 15.1%. However, the NBFC arm's revenue declined 8.8% YoY to ₹46.5 Cr as the company tightened underwriting norms for unsecured lending to prioritize portfolio quality.
Confidence: HIGH
What changedThe company has reported a sharp recovery in profitability compared to Q4 FY26 and is successfully pivoting its growth engine toward Insurance Broking while being cautious in its NBFC lending.
Why it mattersThe diversification into insurance and wealth management provides a necessary hedge against the cyclicality and intense price competition in the retail broking industry, where SMC's market share has previously faced pressure.
Q1 FY27 Revenue: ₹515.1 CrRevenue vs TTM Revenue: ~27.4%Insurance Revenue Growth (YoY): 44.4%NBFC GNPA: 3.0%Consolidated PAT Margin: 7.1%
📅 Short termThe stock may react positively to the 70.7% QoQ PAT growth and the strong performance of the non-broking segments.
📈 Long termThe structural shift toward a 'financial supermarket' model is gaining traction, though long-term success depends on regaining broking market share and managing NBFC asset quality.
⚠ Risk flags
- NBFC AUM contraction
- Intense competition from discount brokers
- Regulatory risks in the F&O segment impacting broking volumes
Key Highlights
Consolidated PAT increased 22.3% YoY to ₹36.7 Cr, representing ~35.6% of the previous TTM PAT.
Insurance Broking revenue grew 44.4% YoY to ₹167.3 Cr, now contributing significantly to the top line.
Broking DP Assets Under Assistance (AUA) reached ₹1,64,962 Cr, up from ₹1,15,048 Cr in FY25.
Online penetration in the broking segment improved to 75% in Q1 FY27 from 61% in FY25.
NBFC AUM moderated to ₹1,025 Cr from ₹1,119 Cr in the previous quarter due to calibrated product mix shifts.
👀 What to Watch
Watch for the sustainability of the high-growth Insurance Broking segment and the stabilization of the NBFC AUM. Investors should also monitor if the increased digital penetration (75%) leads to improved operating margins in the broking business over the coming quarters.
Rs 150 Cr Fundraise: SMC Global Board Approves Public Issue of NCDs
SMC Global Securities has approved a public issue of secured, rated, listed, redeemable non-convertible debentures (NCDs) for a total amount of up to Rs 150 Cr. The issue consists of a base size of Rs 75 Cr with a green shoe option to retain oversubscription of another Rs 75 Cr. This fundraise represents approximately 14.7% of the company's current net worth (Rs 1,018 Cr) and will likely support its NBFC arm's expansion into Micro-LAP and SME financing. The specific terms, including interest rates and tenure, are yet to be finalized by the NCD Committee.
Confidence: HIGH
What changedThe Board of Directors has formally approved a new debt-based fundraise of up to Rs 150 Cr via a public NCD issue.
Why it mattersFor a financial services firm, raising debt capital is essential to fuel its lending book (NBFC arm) and diversify revenue away from the volatile broking segment, which currently contributes significantly to the top line.
Total Issue Size: Rs 150 CrBase Issue Size: Rs 75 CrFace Value per NCD: Rs 1,000Issue vs Net Worth: ~14.7%Issue vs Market Cap: ~9.4%
📅 Short termThe announcement is likely to be viewed neutrally by the market as it is a standard growth-capital fundraise for a finance company.
📈 Long termIf deployed efficiently into higher-margin segments like Micro-LAP, this capital could help stabilize earnings against cyclical broking downturns.
⚠ Risk flags
- Increased leverage (current D/E is 1.29)
- Interest rate risk if the coupon rate is high
- Execution risk in the NBFC lending segment
Key Highlights
Total fundraise approved for up to Rs 150 Cr through a public issue of NCDs
Base issue size set at Rs 75 Cr with an additional Rs 75 Cr green shoe option
Face value of the NCDs is fixed at Rs 1,000 per unit
The total issue size is equivalent to ~11.5% of the company's existing debt of Rs 1,309 Cr
NCDs will be secured, rated, and listed on the exchanges
👀 What to Watch
Watch for the upcoming announcement from the NCD Committee regarding the coupon rate (interest) and credit rating, which will indicate the cost of capital and perceived risk.
SMC Global to raise ₹150 Cr via NCDs; reports Q1 FY27 subsidiary PAT of ₹16.39 Cr
SMC Global Securities has approved a public issue of Non-Convertible Debentures (NCDs) for up to ₹150 crore, consisting of a ₹75 crore base issue and a ₹75 crore green shoe option. This fundraise represents approximately 14.7% of the company's current net worth of ₹1018 crore. For the quarter ended June 30, 2026, eight of its subsidiaries contributed a combined revenue of ₹247.91 crore and a net profit of ₹16.39 crore. The capital is likely intended to support the expansion of its NBFC and insurance broking arms as it faces market share pressure in its core retail broking business.
Confidence: HIGH
What changedThe company has authorized a new ₹150 crore debt fundraise and released its unaudited financial results for the first quarter of FY27.
Why it mattersThe fundraise provides necessary liquidity for the NBFC arm's growth in Micro-LAP and supply chain financing, which is critical as the company's retail broking market share has seen a significant decline from 1.2% to 0.6% in the cash segment.
Total NCD Issue Size: ₹150 CrIssue vs Net Worth: ~14.7%Subsidiary Revenue (Q1 FY27): ₹247.91 CrSubsidiary PAT (Q1 FY27): ₹16.39 CrCurrent Debt-to-Equity: 1.29
📅 Short termThe stock may see neutral to slightly positive movement as the fundraise confirms capital availability for growth, though the market will wait for the full consolidated P&L details.
📈 Long termThe structural shift toward a 'financial supermarket' model (NBFC and Insurance) is necessary to offset the competitive pressures and regulatory headwinds in the discount broking space.
⚠ Risk flags
- High debt-to-equity ratio of 1.29
- Declining market share in retail cash and F&O segments
- High dependency on cyclical broking revenue (55% of NOI)
Key Highlights
Approved fundraise of up to ₹150 crore through a public issue of secured, rated, listed NCDs.
NCD issue includes a base size of ₹75 crore with an option to retain oversubscription of another ₹75 crore.
Eight subsidiaries reported total revenues of ₹247.91 crore for the quarter ended June 30, 2026.
Net profit from these eight subsidiaries stood at ₹16.39 crore for the same period.
The company maintains a debt-to-equity ratio of 1.29 with a total debt of ₹1309 crore as per latest context.
👀 What to Watch
Investors should monitor the coupon rates and tenure of the upcoming NCD issue to assess the cost of capital, and track if the new funds effectively stabilize the declining market share in the retail F&O segment (currently at 0.3%).
Rs 150 Cr Fundraise Approved via NCDs; Q1 FY27 Subsidiary Revenue at Rs 247.91 Cr
SMC Global Securities has approved a fundraise of up to Rs 150 crore through a public issue of secured, rated, redeemable Non-Convertible Debentures (NCDs). The issue consists of a base size of Rs 75 crore with a green shoe option to retain an additional Rs 75 crore. For the quarter ended June 30, 2026, eight reviewed subsidiaries contributed Rs 247.91 crore to revenue and Rs 16.39 crore to PAT. This fundraise represents approximately 9.4% of the company's current market capitalization and is intended to support its diversified financial services operations.
Confidence: HIGH
What changedThe company has authorized a new Rs 150 crore debt fundraise and reported its first-quarter financial results for FY27.
Why it mattersThe fundraise provides necessary liquidity for the company's lending and expansion activities, while the subsidiary performance highlights the growing importance of non-broking segments in the consolidated entity.
Total Proposed Fundraise: Rs 150 crFundraise vs Market Cap: ~9.4%Subsidiary Revenue (Q1 FY27): Rs 247.91 crSubsidiary PAT (Q1 FY27): Rs 16.39 crExisting Debt: Rs 1309 cr
📅 Short termThe stock may see neutral to slightly positive sentiment as the fundraise indicates expansion intent, though the market will focus on the full consolidated earnings details.
📈 Long termThe success of the 'supermarket' model, particularly the NBFC and Insurance segments, is vital to counter the structural decline in retail broking market share (currently 0.3% in F&O).
⚠ Risk flags
- High Debt-to-Equity ratio of 1.29
- Declining market share in retail cash and F&O segments
- Regulatory sensitivity in the F&O broking business
Key Highlights
Approved fundraise of up to Rs 150 crore via public issue of NCDs with a face value of Rs 1,000 each.
Eight reviewed subsidiaries reported a combined revenue of Rs 247.91 crore for Q1 FY27.
Net profit from these eight subsidiaries stood at Rs 16.39 crore for the quarter ended June 30, 2026.
One additional unreviewed subsidiary contributed Rs 2.05 crore in revenue and Rs 0.92 crore in PAT.
Confirmed compliance with all financial and non-financial covenants for existing NCD series as of June 30, 2026.
👀 What to Watch
Investors should monitor the final terms of the NCD issue, including interest rates and tenure, and track how the capital is deployed across the NBFC and Insurance broking arms to offset retail broking market share pressure.
30% Final Dividend Approved: SMC Global to Pay ₹0.60 Per Share for FY26
SMC Global Securities has received shareholder approval for a final dividend of ₹0.60 per equity share (30% of face value) for the financial year 2025-26. The approval was granted at the company's 32nd Annual General Meeting held on June 26, 2026. With a TTM EPS of ₹4.88, this specific payout represents approximately 12.3% of annual earnings. The record date for determining eligibility was previously set as June 15, 2026.
Confidence: HIGH
What changedThe final dividend for FY 2025-26 has moved from a board recommendation to a shareholder-approved corporate action.
Why it mattersConfirms the company's commitment to returning capital to shareholders; however, the yield remains modest at approximately 0.84% based on the current price of ₹71.2.
Final Dividend: ₹0.60 per shareDividend Percentage: 30%Face Value: ₹2Record Date: June 15, 2026Dividend Yield (Approx): 0.84%
📅 Short termThe stock has already passed its record date; the announcement confirms the timeline for the actual cash payout to eligible shareholders.
📈 Long termLimited structural impact; consistent dividends are a positive sign of liquidity, but the core business faces headwinds from discount brokers and regulatory changes in F&O.
Key Highlights
Final dividend of 30% on face value approved by shareholders
Dividend amount fixed at ₹0.60 per equity share of ₹2 face value
Record date for eligibility was June 15, 2026
Approval granted at the 32nd Annual General Meeting on June 26, 2026
Company maintains a TTM PAT of ₹103 Cr despite competitive pressures
👀 What to Watch
Investors should confirm the receipt of dividend funds in their registered bank accounts following the AGM approval. Future focus should remain on the company's ability to stabilize its retail cash market share, which fell to 0.6% in FY24.
SMC Global 32nd AGM: Shareholders Approve Final Dividend and Debt Fundraise
SMC Global Securities Limited concluded its 32nd Annual General Meeting on June 26, 2026, with 115 members in attendance. Shareholders approved the adoption of FY26 financial statements and the declaration of a final dividend. A significant special resolution was passed to authorize fund raising through borrowings and the issuance of debt securities. The company confirmed that statutory and secretarial audit reports for the year were clean, containing no qualifications or adverse remarks.
Key Highlights
Approval of the final dividend for the financial year ended March 31, 2026.
Passed a special resolution for raising funds via borrowing and issuance of debt securities.
Reappointed Mr. Ajay Garg (CEO) and Mr. Anurag Bansal as Directors of the company.
The meeting was attended by 115 members out of a total shareholder base of 25,737 as of the cut-off date.
Statutory and Secretarial Audit reports for FY26 contained zero qualifications or adverse remarks.
👀 What to Watch
Investors should monitor future disclosures for specific details regarding the quantum of debt to be raised and the dividend payout timeline. The clean audit report and continuity in leadership suggest stable corporate governance.
SMC Global to Seek Approval for ₹3,000 Cr Fundraising and ₹0.60 Final Dividend at 32nd AGM
SMC Global Securities has scheduled its 32nd Annual General Meeting for June 26, 2026, to seek shareholder approval for a significant borrowing limit of ₹3,000 Crore through debt securities and loans. The company has recommended a final dividend of ₹0.60 per equity share (30% of face value), following an earlier interim dividend of the same amount. Key management re-appointments for CEO Ajay Garg and WTD Anurag Bansal are also on the agenda. The record date for the final dividend is set for June 15, 2026, with e-voting scheduled between June 23 and June 25, 2026.
Key Highlights
Proposed fundraising limit of up to ₹3,000 Crore through NCDs, commercial papers, and other debt instruments
Recommendation of a final dividend of ₹0.60 per share (30% on face value of ₹2) for FY 2025-26
Record date for final dividend payment fixed as June 15, 2026
Re-appointment of Mr. Ajay Garg (CEO) and Mr. Anurag Bansal (WTD) as directors
Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026
👀 What to Watch
Investors should ensure they hold shares by the June 15 record date to qualify for the ₹0.60 dividend and monitor the company's plans for the ₹3,000 Crore capital raise.
SMC Global Sets June 15 as Record Date for 30% Final Dividend (Rs. 0.60/Share)
SMC Global Securities has fixed June 15, 2026, as the record date to determine shareholder eligibility for a final dividend of Rs. 0.60 per equity share for FY 2025-26. This dividend represents a 30% payout on the face value of Rs. 2 per share. The payment is subject to shareholder approval at the upcoming 32nd Annual General Meeting (AGM) scheduled for June 26, 2026. Investors must hold the shares in their demat account by the record date to be eligible for the payout.
Key Highlights
Final dividend recommended at 30% or Rs. 0.60 per equity share of face value Rs. 2
Record date for dividend entitlement fixed as Monday, June 15, 2026
32nd Annual General Meeting (AGM) to be held on June 26, 2026, via video conferencing
Dividend pertains to the financial year ended March 31, 2026
👀 What to Watch
To qualify for the Rs. 0.60 per share dividend, ensure you purchase or hold the stock before the ex-dividend date, which typically falls one business day prior to June 15.
SMC Global Sets June 15 as Record Date for Rs 0.60 Final Dividend
SMC Global Securities Limited has officially announced the record date for its final dividend for the financial year 2025-26. The company has fixed June 15, 2026, as the record date to determine shareholder eligibility for a 30% dividend, which translates to Rs. 0.60 per equity share of face value Rs. 2. The 32nd Annual General Meeting (AGM) is scheduled for June 26, 2026, where the dividend will be put forward for shareholder approval. This follows the initial recommendation made by the Board of Directors on May 2, 2026.
Key Highlights
Final dividend of Rs. 0.60 per equity share (30% of face value Rs. 2) for FY 2025-26.
Record date for dividend entitlement fixed as Monday, June 15, 2026.
32nd Annual General Meeting (AGM) to be held on Friday, June 26, 2026, via video conferencing.
Dividend payment is subject to approval by shareholders at the upcoming AGM.
👀 What to Watch
Investors interested in the dividend should ensure they hold the shares in their demat accounts before the record date of June 15, 2026. Long-term investors may view this consistent payout as a sign of stable financial health.
SMC Global Q4 FY26 PAT Surges to INR 21.5 Cr; Full-Year Margins Under Pressure
SMC Global reported a strong Q4 FY26 with consolidated revenue growing 22.6% YoY to INR 516.9 crore and PAT rising significantly to INR 21.5 crore from INR 4.1 crore. However, full-year FY26 performance was more subdued, with PAT declining 29.9% YoY to INR 103.2 crore due to higher finance costs and a deliberate slowdown in the NBFC segment. The insurance broking arm showed robust growth of 17.1% for the year and successfully secured a composite broker license to enter reinsurance. The company maintained a conservative stance in its lending business, prioritizing asset quality over growth, resulting in a high capital adequacy ratio of 43.2%.
Key Highlights
Q4 FY26 consolidated revenue rose 22.6% YoY to INR 516.9 crore, with EBITDA margins expanding 250 bps to 17.4%.
Full-year FY26 PAT dropped 29.9% YoY to INR 103.2 crore, impacted by a INR 221.3 crore finance cost.
Insurance broking revenue grew 17.1% in FY26 to INR 667.5 crore, with a transition to composite broker status.
NBFC AUM decreased to INR 1,119 crore from INR 1,291 crore as the company reduced exposure to unsecured segments.
Broking DP Assets Under Assistance (AUA) grew 23.96% YoY to reach INR 1,42,703 crore.
👀 What to Watch
Investors should monitor the recovery in the NBFC segment and the scale-up of the newly licensed reinsurance business. The stock's valuation should be assessed against the backdrop of the expanded capital base and the strategic shift towards fee-based revenue streams.
