Executive Summary
The Indian debt market on September 22, 2026, was characterized by high-volume routine debt servicing and new issuances, punctuated by a few high-yield, high-risk private placements.
The period saw a significant concentration of Commercial Paper (CP) redemptions, with major repayments from entities like Redington (₹200 Cr), ICICI Home Finance (₹150 Cr), and Minda Corporation (₹100 Cr), all executed on schedule, indicating robust short-term liquidity management across the corporate sector. A key theme is the bifurcation in credit markets: top-tier NBFCs like Kotak Mahindra Prime and Shriram Finance continue to access the public markets at AAA/AA+ rates, while smaller entities like Regency Fincorp and Raama Finance are raising capital at elevated coupons of 12% and 20% respectively through private placements, highlighting a two-tier market for credit. The most critical development is the successful USD 6 million bond listing by Mufin Green Finance on the IFSC exchange, a significant step for a smaller NBFC in accessing foreign currency debt markets. However, the mixed signals from Ramchandra Leasing & Finance (Raama Finance), which saw partial warrant conversion and a managing director redesignation alongside a high-coupon NCD issuance, serve as a cautionary tale on corporate governance and capital structure risk in smaller firms.
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Filing types in this digest: Debt securities
Tracking the trend? Catch up on the prior India Debt Bond Securities SEBI Regulatory Filings digest from September 14, 2026.
Investment Signals (9)
- Regency Fincorp ↓ (BULLISH)▲
Successfully raised ₹100 Cr via two tranches of 12% NCDs (15-month tenor), fully subscribed by three identified allottees. The high coupon and quick subscription indicate strong investor appetite for high-yield, secured credit from NBFCs with a niche lending model (MSME/CashMySalary).
- Mufin Green Finance ↓ (BULLISH)▲
Listed USD 6M in 4.50% + SOFR Senior Notes on India INX (IFSC), rated B/Stable by CareEdge. This is a landmark for a small-cap NBFC to access international capital markets, diversifying its funding base and reducing domestic currency risk.
- CESC Limited ↓ (BULLISH)▲
Issued ₹190 Cr in NCDs with a floating coupon (MIBOR OIS + 2.20%), a 5-year maturity, and a 3-year call/put option. This structure provides a hedge against rising rates for investors and flexibility for the company, signaling sophisticated treasury management.
- Capri Global Capital ↓ (BULLISH)▲
Received a new 'ACUITE AA+/Stable' rating for its proposed ₹400 Cr NCD issue (incl. ₹300 Cr sub-debt). This strong rating upgrade/assignment allows the company to raise funds at lower costs, improving its NIMs and competitiveness against larger peers.
- Shriram Finance ↓ (BULLISH)▲
Made a timely annual interest payment of ₹16.35 Cr on a large NCD (ISIN INE722A07BA6). Consistent, large-scale debt servicing reinforces its reputation as a top-tier, low-risk credit in the Indian market.
- Kirloskar Ferrous Industries ↓ (BULLISH)▲
Fully redeemed ₹100 Cr in Commercial Paper on the maturity date. This routine action, combined with no new issuance, suggests strong internal cash generation and a potential reduction in short-term leverage.
- Solar Industries India ↓ (BULLISH)▲
Made a timely partial redemption and interest payment on its NCDs. The outstanding amount post-redemption is ₹5.83 Cr, indicating a steady deleveraging process for the company.
- Embassy Developments ↓ (NEUTRAL)▲
Raised ₹105 Cr via unlisted NCDs at a high 12.50% coupon. The decision to keep the debt unlisted suggests a captive investor base (likely a single or small group of HNI/family offices) and avoids public market scrutiny, which can be a double-edged sword.
- Ramchandra Leasing & Finance (Raama Finance) (BEARISH)▲
Issued two tranches of high-coupon (20%) unsecured/unrated NCDs totaling ₹9.61 Cr. The extreme cost of capital and lack of rating are major red flags, but the successful placement indicates there is a market for distressed/high-risk debt.
Risk Flags (7)
- Ramchandra Leasing & Finance (Corporate Governance) [HIGH RISK]▼
Managing Director Rajesh Singh Kaira was redesignated as a Non-Executive Director. This sudden change in leadership, coupled with the issuance of high-cost debt and partial warrant conversion, signals potential internal turmoil or strategic pivot.
- Ramchandra Leasing & Finance (Capital Structure) [HIGH RISK]▼
Of the total warrants issued, 2,83,00,000 (to SKG Assets entities) remained unconverted. This indicates a lack of confidence from key promoters/investors, diluting the equity base and raising questions about future funding.
- Regency Fincorp (Operational Risk) [MEDIUM RISK]▼
In two separate filings, the company reported a minor payment failure of ₹751 to two debenture holders due to a bank account mismatch in BENPOS. While immaterial in value, it highlights a systemic operational weakness in investor payment processing.
- Embassy Developments (Liquidity Risk) [MEDIUM RISK]▼
The company raised ₹105 Cr at a high 12.50% coupon via unlisted debt. This suggests it may be unable to access cheaper, listed debt markets, potentially due to its specific risk profile or the ongoing turnaround from its previous identity (Equinox India).
- Navi Finserv (Concentration Risk) [LOW RISK]▼
The company made multiple large interest payments (totaling ₹110.36 Cr + ₹66.19 Cr + ₹54.78 Cr) on its NCDs. While timely, the sheer volume of monthly interest obligations requires constant monitoring of its cash flow generation.
- DMI Finance (Market Risk) [LOW RISK]▼
Allotted a massive ₹1,455 Cr in NCDs across six series. While a sign of strong market access, the sheer size of the issuance could saturate demand for its paper, potentially leading to higher yields on future issuances.
- Pilani Investment & Industries [LOW RISK]▼
Redeemed a CP with no financial details disclosed. The lack of transparency on the size of the redemption is a minor red flag for investors seeking full disclosure.
Opportunities (7)
- Mufin Green Finance (FX Debt Arbitrage) (OPPORTUNITY)◆
The 4.50% + SOFR coupon on its USD bonds is likely lower than domestic rupee debt costs for a B-rated entity. Investors can play the convergence of credit ratings and the interest rate differential as the company scales.
- CESC Limited (Floating Rate Play)↓ (OPPORTUNITY)◆
With the RBI potentially at the peak of the rate cycle, CESC's new MIBOR OIS + 2.20% NCD offers a compelling floating rate investment. If rates decline, the coupon will reset lower, but the 3-year put option provides a floor for investors.
- Capri Global Capital (Rating Upgrade Play) (OPPORTUNITY)◆
The new AA+/Stable rating opens the door for cheaper refinancing of existing high-cost debt. This could lead to a significant improvement in Net Interest Margins (NIMs) and profitability over the next 2-3 quarters.
- Regency Fincorp (High-Yield Niche) (OPPORTUNITY)◆
The 12% coupon on a secured NCD with a 15-month tenor offers a high absolute return in a low-yield environment. For investors comfortable with the credit risk of a small NBFC, this is an attractive short-term yield play.
- Kirloskar Ferrous Industries (Deleveraging Story) (OPPORTUNITY)◆
The full redemption of its CP without immediate re-issuance suggests a deleveraging balance sheet. This could lead to a credit rating upgrade or improved financial flexibility for growth investments.
- Solar Industries India (Steady Deleveraging) (OPPORTUNITY)◆
The company is methodically reducing its NCD principal (outstanding now ₹5.83 Cr). This steady deleveraging, combined with its strong business profile, makes its existing listed bonds a lower-risk hold.
- Embassy Developments (Turnaround Play) (OPPORTUNITY)◆
The company is successfully raising capital (₹105 Cr) for its operations. If the turnaround strategy from its Equinox India days gains traction, the high-coupon debt could be refinanced, leading to a sharp improvement in financial health.
Sector Themes (6)
- Two-Tier Credit Market◆
The data clearly shows a bifurcation. Top-tier NBFCs (Kotak Mahindra Prime, Shriram Finance) and large corporates (Tata Steel, CESC) access public markets at AAA/AA+ rates. In contrast, smaller NBFCs (Regency Fincorp, Raama Finance) and real estate firms (Embassy Developments) are forced to raise capital at 12-20% via private placements, highlighting a significant risk premium for smaller issuers.
- Rise of IFSC Listings◆
Mufin Green Finance's USD bond listing on India INX is a notable trend. This provides a new, efficient channel for Indian companies, especially those in niche sectors like green finance, to raise foreign currency debt without the complexities of a full international listing.
- High Volume of CP Redemptions◆
A significant number of CPs matured on Sept 22, 2026 (Redington, ICICI Home Finance, Minda Corp, etc.). This suggests a concentration of short-term debt maturities, which could lead to a refinancing crunch if liquidity tightens, but for now, all were serviced on time, indicating healthy short-term liquidity.
- Floating vs. Fixed Rate Preference◆
CESC's new floating-rate NCD (MIBOR OIS + 2.20%) contrasts with the majority of fixed-rate issuances. This suggests that some large, sophisticated issuers are hedging against a potential decline in interest rates, while smaller issuers are locking in high fixed rates to attract investors.
- High-Coupon Debt as a Governance Signal◆
The issuance of 20% unrated NCDs by Raama Finance is a strong indicator of financial distress or a very high-risk profile. Such instruments are often a last resort for capital and should be a major red flag for equity and senior debt investors.
- Securitization and Asset Coverage◆
Several NCD issuances (Regency Fincorp, Raama Finance) are secured against specific loan receivables (MSME, CashMySalary) at 1.25x cover. This trend towards asset-backed debt provides a layer of safety for investors but also exposes them to the performance of the underlying loan pool.
Watch List (8)
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Finance Committee meeting on Sept 24, 2026, to approve NCD issuance. Watch for the size, coupon, and tenor of the new issue, which will signal the company's cost of funds and growth plans.
- Ramchandra Leasing & Finance (Raama Finance)👁
Monitor the conversion of the remaining warrants and the impact of the MD's redesignation. Any further negative corporate actions could trigger a debt covenant breach or a sharp sell-off.
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Track the trading volume and yield of the newly listed USD bonds on India INX. Strong demand would validate the IFSC listing route for other small-cap NBFCs.
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Watch for the launch of the ₹400 Cr NCD issue. The final coupon rate will be a key indicator of how much benefit the AA+/Stable rating provides in the current market.
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Monitor for any news on refinancing the 12.50% unlisted NCDs with cheaper listed debt. A successful refinancing would be a major positive catalyst.
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The 3-year call/put option on its new NCDs creates a potential catalyst in Sept 2029. Monitor interest rate movements, as a decline would make the call option more likely.
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The minor payment failure of ₹751, while small, warrants monitoring. A repeat of such operational issues could lead to regulatory scrutiny or reputational damage.
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The steady reduction in NCD principal suggests a potential for a full redemption or a credit rating upgrade. Monitor for any new debt issuance or changes in capital allocation policy.
Filing Analyses
(36)
21-09-2026
Kirloskar Ferrous Industries Ltd. has fully redeemed 2,000 units of Commercial Paper (ISIN INE884B14770) on the maturity date of September 21, 2026, for an amount of ₹1,000,000,000. The outstanding amount post-redemption is nil, and no interest payment was applicable.
- · The redemption was a full redemption on maturity (not call/put/premature).
- · No interest payment was applicable for this Commercial Paper.
- · The certificate is filed under Regulation 57 of SEBI (LODR) Regulations, 2015.
21-09-2026
Reilly Homes Realty Private Limited has made a part-principal redemption and interest payment on its Series 1 Non-Convertible Debentures (ISIN INE0YTX07019). An interest amount of ₹39,23,880 was paid on September 18, 2026, covering the period from July 1, 2026 to September 30, 2026. Additionally, 230 NCDs with a face value of ₹2,30,00,000 were partially redeemed on September 21, 2026, reducing the outstanding amount to nil.
- · Interest payment record date was September 3, 2026; due date and actual payment date were September 18, 2026.
- · Last interest payment before this was on June 30, 2026.
- · Redemption was partial, based on quantity (lot basis), as per the Information Memorandum and Debenture Trust Deed.
- · Actual redemption date was September 21, 2026, while the due date was September 18, 2026.
- · Outstanding amount after redemption is nil.
21-09-2026
Namdev Finvest Limited, formerly known as Namdev Finvest Private Limited, issued debt securities through private placement and had them listed and admitted to dealings on the BSE Debt Segment. The securities are identified by ISIN INE0IX207288 and Scrip Code 978170; no issue amount, coupon, maturity, or other financial terms were disclosed.
- · Filing date: September 21, 2026.
- · The disclosure was made under Regulation 51(2) read with Part B of Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
- · BSE listing notice reference: 20260921-19.
- · Company CIN: U65921RJ1997PLC047090.
- · Registered office: Namdev House, Plot No. 21, Neer Sagar-A, Bhankrota, Jaipur-302026, Rajasthan.
- · Company Secretary and Compliance Officer membership number: 25396.
21-09-2026
360 ONE WAM LIMITED has redeemed 1,000 commercial papers (ISIN INE466L14GC8) on September 21, 2026, as per the scheduled redemption date. The company has informed BSE Limited of this corporate action. No financial details beyond the number of papers redeemed were disclosed.
- · The redemption was completed on the scheduled date of September 21, 2026.
- · The scrip code for the commercial papers is 731680.
- · The company's registered office is at 360 ONE Centre, Kamala City, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013.
21-09-2026
Kotak Mahindra Prime Limited issued and listed two tranches of non-convertible debentures (NCDs) on BSE, each with a face value of ₹15,000 (Further Issue), with allotment on September 18, 2026, and listing on September 21, 2026. The company confirmed no defaults or delays in servicing any debt securities, and both tranches carry AAA/Stable credit ratings from CRISIL and ICRA. The company also confirmed timely interest and redemption payments.
- · Two NCD tranches listed: ISIN INE916DA7SJ7 and INE916DA7TG1, both Further Issue, listed on BSE.
- · Credit ratings: INE916DA7TG1 rated CRISIL AAA/Stable (July 9, 2026); INE916DA7SJ7 rated ICRA AAA/Stable (June 8, 2026).
- · Record date is 15 days prior to any due date; company intimates BSE within prescribed timelines.
- · No defaults or delays in servicing any other debt security - confirmed.
- · Customer service call centre: 1800 209 5732, Monday to Saturday 9:30am-6:30pm.
21-09-2026
JM Financial Home Loans Limited has made a quarterly interest payment of ₹22.69 Lakh (₹22,69,000) on its Non-Convertible Debentures (ISIN: INE01A207161) due September 21, 2026. The payment was processed on time, with no delays or changes to the schedule, and the issue size of the NCDs stands at ₹1,000 Lakh (₹10 Crore). This is a routine debt servicing disclosure with no adverse events.
- · The interest payment frequency is quarterly.
- · Record date for the interest payment was September 4, 2026.
- · There is no change in frequency or any delay in payment.
- · The NCD issue is secured/tranche-specific, but no details on coupon rate or maturity date are provided.
21-09-2026
Tata Steel Limited has made timely interest payments on two series of its listed Non-Convertible Debentures (NCDs) on September 21, 2026. The company paid ₹37,50,00,000 on the 7.50% NCD (ISIN INE081A08314, issue size ₹500 crore) and ₹116,40,00,000 on the 7.76% NCD (ISIN INE081A08322, issue size ₹1,500 crore), with no delays or defaults. The payments were made in compliance with SEBI regulations.
- · The interest payment record date was September 4, 2026 (adjusted from September 5 due to Saturday).
- · The last interest payment for both NCDs was made on September 22, 2025.
- · Both NCDs pay interest annually; no change in frequency of payment.
- · No redemption payments were due or made.
21-09-2026
DMI Finance Private Limited allotted 1,45,500 Senior, Secured, Listed, Rated, Transferable and Redeemable Non-Convertible Debentures (NCDs) of face value INR 1,00,000 each, aggregating to INR 14,55,00,00,000 (INR 1455 Crore), on a private placement basis across six series. The allotment was approved by the Loan, Investment, Borrowing and Allotment Committee on September 21, 2026, and the NCDs will be listed on the Wholesale Debt Market segment of BSE Limited.
- · Allotment approved by the Loan, Investment, Borrowing and Allotment Committee on September 21, 2026.
- · NCDs are to be listed on the Wholesale Debt Market segment of BSE Limited.
- · The allotment is on a private placement basis to Identified Investors.
- · The intimation is available on the company's website at https://www.dmifinance.in/.
21-09-2026
Regency Fincorp Limited has certified to BSE that it made timely payment of interest on its listed rated secured Non-Convertible Debentures (ISIN: INE964R07135) for the September 2026 due date. The company paid ₹68,79,452/- in interest on September 18, 2026, one day before the due date of September 19, 2026. However, a small amount of ₹751/- could not be paid to two debenture holders due to a mismatch of bank account details in BENPOS, indicating a minor operational issue.
- · The interest payment was made one day early (18/09/2026) versus the due date (19/09/2026).
- · The outstanding amount on the debentures remains ₹60,00,00,000/-.
- · No redemption payments were due or made during this period.
- · The company's CIN is L67120PB1993PLC013169 and it was formerly known as Regency Investments Limited.
21-09-2026
Regency Fincorp Limited has certified to BSE Limited that it made timely payment of interest due on its listed rated secured Non-Convertible Debentures (ISIN: INE964R07093). The interest amount of INR 16,56,164 was paid on September 18, 2026, one day before the due date of September 19, 2026. The outstanding principal amount on the debentures remains INR 15,00,00,000, with no redemption or change in payment frequency reported.
- · Interest payment frequency is monthly.
- · Interest payment record date was September 4, 2026.
- · Actual interest payment was made on September 18, 2026, one day before the due date of September 19, 2026.
- · No change in frequency of payment reported.
- · No redemption (full or partial) occurred; outstanding amount remains INR 15,00,00,000.
21-09-2026
Navi Finserv Limited has certified to BSE Limited that it made timely interest payments on two series of non-convertible debentures (ISIN INE342T07569 and INE342T07684) on September 21, 2026, as required under Regulation 57(1) of the SEBI LODR Regulations. The total interest paid was ₹1,103.65 Lakhs (₹110.365 Cr), with no defaults or delays reported.
- · Interest payment frequency is monthly for both debentures.
- · Record date for interest payment was September 6, 2026.
- · Last interest payment date was August 21, 2026.
- · No change in frequency of payment reported.
- · No reason for non-payment or delay (NA).
21-09-2026
Navi Finserv Limited has certified timely payment of interest on two series of Non-Convertible Debentures (ISIN INE342T07601 and INE342T07668) for the September 2026 interest due dates. Interest of ₹661.93 Lakhs and ₹547.81 Lakhs was paid on September 18, 2026, ahead of the respective due dates of September 19 and September 20, 2026. No delays or defaults were reported.
- · Issue size for INE342T07601 is ₹72,500 Lakhs; for INE342T07668 is ₹60,000 Lakhs.
- · Interest payment frequency is monthly for both series.
- · Record dates were September 4 and September 5, 2026.
- · Last interest payment dates were August 19 and August 20, 2026.
21-09-2026
Navi Finserv Limited has made a full redemption of its Commercial Paper (ISIN INE342T14GR2) on the maturity date of September 21, 2026, redeeming 340 commercial papers with a total value of INR 17,00,00,000.00 (Seventeen Crores). The payment was made timely as certified under SEBI regulations, with no interest payment applicable. This is a routine debt obligation fulfillment with no negative or unusual events.
- · Redemption date and maturity date both September 21, 2026
- · Record date for redemption was September 20, 2026
- · No interest payment was applicable on this CP
- · Redemption was a full redemption due to maturity, not partial or premature
21-09-2026
Motilal Oswal Financial Services Limited has informed the stock exchanges that its Finance Committee will meet on September 24, 2026, to consider and approve raising funds through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis, in one or more tranches. The filing is a routine disclosure under SEBI Listing Regulations and does not contain any financial figures or performance data.
- · The Finance Committee meeting is scheduled for September 24, 2026.
- · The NCD issuance will be on a private placement basis, in one or more tranches.
- · No details on the size, coupon rate, or tenure of the proposed debentures have been disclosed.
22-09-2026
Muthoot Capital Services Limited has confirmed the timely payment of monthly interest of ₹1,06,16,438.36 on its debenture bearing ISIN INE296G07218, with an issue size of ₹125,00,00,000. The interest was paid on the due date of September 21, 2026, with no delays or changes in payment frequency. This filing complies with SEBI listing obligations and reflects routine debt servicing activity.
- · Debenture ISIN: INE296G07218
- · Monthly interest payment frequency
- · Interest payment record date: September 5, 2026
- · Due and actual payment date: September 21, 2026
- · Last interest payment date: August 20, 2026
- · No change in payment frequency or any delay reported
22-09-2026
Kotak Mahindra Prime Limited has issued new Non-Convertible Debentures (NCDs) of ₹2 Cr (Fresh issuance) listed on BSE, with allotment on September 18, 2026 and listing on September 21, 2026. The issuance is rated CRISIL AAA/Stable. There is no history of default or delay in servicing any debt security.
- · Allotment date: September 18, 2026
- · Listing date: September 21, 2026
- · Rating: CRISIL AAA/Stable (assigned July 9, 2026, reviewed September 2, 2026)
- · ISIN: INE916DA7TP2
- · Record date is 15 days prior to any due date
- · No defaults or delays in servicing any other debt security
22-09-2026
Regency Fincorp Limited has allotted 50,000 secured, rated, redeemable NCDs at a face value of ₹10,000 each, aggregating to ₹50 Crore on a private placement basis. The NCDs carry a 12% coupon rate, mature on 22nd December 2027 (15-month tenor), and are listed on BSE Limited. The issue was fully subscribed by three identified allottees.
- · Allotment Committee meeting held on 22nd September 2026 from 1:00 PM to 1:30 PM.
- · NCDs are secured at 1.25x over hypothecated assets comprising at least 75% secured MSME loan receivables and at least 25% CashMySalary digital loan receivables.
- · Coupon payment schedule includes 15 monthly coupons with amounts ranging from ₹92.05 to ₹101.92 per debenture.
- · Bullet repayment of principal on 22nd December 2027.
- · Delay in payment attracts 5% per annum penalty over the coupon rate.
22-09-2026
DSP Finance Private Limited has submitted a certificate to BSE Limited confirming timely payment of the maturity amount of ₹100,00,00,000 (Rs. 1,00,00,00,000) for a listed Commercial Paper (ISIN INE422H14511) on its maturity date, September 22, 2026. The payment was made on the same day, fulfilling the company's obligations under SEBI's Commercial Paper listing regulations.
- · The Commercial Paper had scrip code 732002 and ISIN INE422H14511.
- · The payment was made on the maturity date, September 22, 2026, with no delay.
- · The certificate was issued in compliance with SEBI Master Circular SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025.
22-09-2026
Regency Fincorp Limited has allotted 50,000 secured, rated, redeemable NCDs at a face value of ₹10,000 each, aggregating to ₹50 Crore on a private placement basis. The NCDs carry a 12% coupon rate, mature on 22 December 2027 (15-month tenor), and are listed on BSE Limited. The issue was fully subscribed by three identified allottees.
- · The NCDs are secured at 1.25x over hypothecated assets, with at least 75% comprising secured MSME loan receivables and at least 25% comprising CashMySalary digital loan receivables.
- · Interest/principal default penalty is 5% per annum over the coupon rate on the default amount if delayed beyond three months.
- · Redemption is a bullet repayment on 22 December 2027.
22-09-2026
Capri Global Capital Limited has received a credit rating of 'ACUITE AA+/Stable' from Acuité Ratings & Research Limited for its proposed Non-Convertible Debentures (NCDs) aggregating to Rs. 400 Crore. Of this, Rs. 300 Cr is reserved for the subordinated debt issue. The rating reflects a stable outlook, indicating a strong credit profile for the proposed debt instruments.
- · Rating assigned: ACUITE AA+/Stable (ACUITE Double A Plus with Stable Outlook)
- · Rating action: Rating Assigned
- · Intimation received by the company on September 22, 2026 at 10:48 A.M. (IST)
- · Rating rationale will be published by Acuité on its website
- · Intimation available on company's website at www.capriloans.in
22-09-2026
Shriram Finance Limited has made timely payment of interest of ₹1,634.85 lakhs on its Non-Convertible Debentures (ISIN INE722A07BA6) due on September 22, 2026. The payment was made on the due date with no change in frequency or delay, confirming compliance with SEBI Listing Regulations.
- · Interest payment record date was 07/09/2026.
- · Last interest payment was made on 22/09/2025.
- · Frequency of interest payment is yearly with no change.
22-09-2026
360 ONE Alternates Asset Management Limited has redeemed 300 commercial papers (scrip code 731402, ISIN INE0TQI14277) on September 22, 2026. The redemption was completed on the scheduled payment date, with no default or extension indicated.
- · The redemption was completed on the scheduled payment date of September 22, 2026.
- · No monetary amount for the redemption was disclosed in the filing.
22-09-2026
Solar Industries India Limited has made timely payment of interest and principal on partial redemption of 292 Non-Convertible Debentures (ISIN INE343H08024) on the due date of September 22, 2026. The net interest paid was ₹14,01,361.49 (after TDS of ₹1,55,707) and the redemption amount was ₹2,91,66,667. The outstanding amount after this partial redemption is ₹5,83,33,334.
- · Interest payment frequency is quarterly.
- · Last interest payment was made on June 22, 2026.
- · Redemption was on maturity basis, on a lot basis.
- · The record date for interest payment was September 7, 2026.
22-09-2026
SEIL Energy India Limited redeemed its Commercial Paper (ISIN: INE460M14883) on September 22, 2026, the scheduled maturity date, with ICICI Bank Limited acting as the Issuing and Paying Agent. The redemption covered 6,000 securities held in one NSDL record, and the IPA confirmed that all necessary payments were made to beneficiaries. The CP was fully redeemed and the ISIN deactivated.
- · CP allotment date: July 06, 2026
- · CP maturity/redemption date: September 22, 2026
- · CPs held in CDSL: 0 records, 0 securities
- · Redemption reason: Full Redemption (De-activate ISIN after redemption)
- · Filing made under SEBI circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021
22-09-2026
Mirae Asset Capital Markets (India) Private Limited has certified to BSE Limited that it made timely payment of both interest and principal on its Commercial Paper (ISIN INE0T2V14129) due September 22, 2026. The certificate is filed under SEBI operational circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021.
- · Certificate filed under Clause 8.4 of Chapter XVII of SEBI operational circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021.
- · Scrip Code: 732011
- · Due date of payment of interest and principal: September 22, 2026
- · Date of payment of interest and principal: September 22, 2026
22-09-2026
Redington Limited redeemed its Commercial Paper bearing ISIN INE891D14C36 for ₹2000000000 on September 22, 2026, on its maturity date. The filing reports completion of the redemption and does not disclose any new borrowing, refinancing, financial impact, or default.
- · ISIN: INE891D14C36
- · Issue Date: 25-Jun-26
- · Maturity Date: 22-Sep-26
- · Redemption Date: 22-Sep-26
- · The Commercial Paper was redeemed on its stated maturity date.
22-09-2026
ICICI Home Finance Company Limited has made a timely payment of ₹1,50,00,00,000 to investors of its commercial paper (ISIN INE071G14IB4) on the maturity date of September 22, 2026, as required under SEBI circular. This routine debt servicing disclosure confirms the company met its obligation without default.
- · The commercial paper matured on September 22, 2026, and payment was made on the same date.
- · The filing references SEBI Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021.
22-09-2026
Mufin Green Finance Limited has received final listing approval from the India International Exchange (IFSC) Limited for its USD-denominated senior notes. The company issued USD 6,000,000 (USD Six Million) of 4.50% Senior Notes due 2029, which are listed on the Global Securities Market of India INX and will be available for trading from September 22, 2026. The notes carry a credit rating of B/Stable from CareEdge and are structured with a floating coupon of 4.50% + SOFR.
- · The bonds are listed on the Global Securities Market of India INX, an IFSC-based exchange.
- · The maturity date is September 11, 2029.
- · The credit rating is B/Stable from CareEdge.
- · The ISIN is INIFD1005039.
- · The scrip code is 1100193 and the security symbol is 4500MGFL0929.
- · The minimum denomination is 10 bonds and multiples of 1 bond thereafter.
- · The tick size is 0.0001.
22-09-2026
Minda Corporation Limited redeemed Commercial Papers of Rs. 100 Crore (ISIN INE842C14222), issued on July 15, 2026, with payment made on September 22, 2026. The redemption was confirmed in compliance with SEBI circular SEBI/HO/DDHS/P/CIR/2021/613 dated April 13, 2022. This is a routine debt obligation settlement with no financial impact on profitability or operations.
- · Commercial Paper ISIN: INE842C14222
- · Issue date: July 15, 2026
- · Redemption date: September 22, 2026
- · SEBI circular reference: SEBI/HO/DDHS/P/CIR/2021/613 dated April 13, 2022
22-09-2026
Embassy Developments Limited (formerly Equinox India Developments Limited) allotted 10,500 rated, unlisted, secured, redeemable, taxable, non-convertible debentures with a face value of INR 1,00,000 each, aggregating to INR 105 crores, on a private placement basis. The allotment was approved by the Board's committee on September 22, 2026, and is part of the total approved issue size of up to INR 160 crores. The debentures carry a cash coupon of 12.50% per annum payable semi-annually, with maturity on September 22, 2028, and are not proposed to be listed on any stock exchange.
- · Date of allotment: September 22, 2026; Date of maturity: September 22, 2028
- · Debentures are secured by a charge on identified assets of the Company and/or its subsidiaries per the Debenture Trust Deed
- · Debentures are not proposed to be listed on any stock exchange
- · Company may undertake partial or full prepayment of the debentures prior to maturity, subject to transaction document terms
- · No delay in payment of interest/principal or default reported; no cancellation or termination of the issuance proposal
22-09-2026
Raama Finance Ltd (formerly Ramchandra Leasing & Finance) allotted 4,610 unlisted, unrated secured NCDs aggregating to INR 4,61,00,000 (₹4.61 Cr) bearing 20% p.a. coupon, and issued 97,00,000 equity shares upon conversion of warrants for a total consideration of ₹4,65,60,000 (₹4.656 Cr). However, 1,93,00,000 warrants issued to SKG Assets Management Private Limited and 90,00,000 warrants to SKG Assets and Holdings Private Limited remained unconverted, indicating only partial conversion success. Additionally, Managing Director Rajesh Singh Kaira relinquished his role and was redesignated as a Non-Executive, Non-Independent Director.
22-09-2026
CESC Limited has issued 19,000 secured, unlisted, redeemable, rated NCDs aggregating ₹190 crore (INR 190,00,00,000) on a private placement basis, with a face value of ₹1 lakh each. The debentures carry a floating coupon of One Month MIBOR OIS plus 2.20% p.a., payable monthly, and mature on September 24, 2031, with a call/put option at par after 3 years. The issue is secured by a first-ranking pari passu charge on the company's fixed assets with a 1.10x security cover.
- · Coupon rate: One Month MIBOR OIS + 2.20% p.a., payable monthly.
- · Call/Put option exercisable at par at the end of 3 years from the deemed date of allotment.
- · Default interest: additional 2% p.a. over coupon rate on delayed payments.
- · Security cover maintained at 1.10x during the tenure.
- · Deemed date of allotment: September 24, 2026; maturity: September 24, 2031 (5 years).
- · Principal redemption in 16 equal semi-annual installments of ₹11,87,50,000 each starting December 31, 2027.
22-09-2026
Kotak Mahindra Prime Limited certified to BSE that it made timely payment of interest on its listed Non-Convertible Debentures (ISIN INE916DA7TD8) on the due date of September 22, 2026. The interest amount paid was Rs. 49,84,11,714/- (excluding TDS) on an issue size of Rs.670 Crore. No redemption payments were applicable, and there were no delays or defaults.
- · Interest payment frequency is yearly, with no change in frequency.
- · Interest payment record date was 07/09/2026.
- · Actual interest payment date matched the due date: 22/09/2026.
- · No previous interest payment was applicable (first/only payment context).
- · No redemption details applicable; no reason for non-payment or delay.
- · Certification made under Clause 57(1) of SEBI (LODR) Regulations, 2015.
22-09-2026
ICICI Securities Primary Dealership Limited has repaid its commercial paper (ISIN INE849D14IB0) due on September 22, 2026, in compliance with SEBI circular requirements. This is a routine debt maturity payment and does not indicate any financial distress or change in creditworthiness.
- · The commercial paper matured on September 22, 2026, and the maturity payment was made on the same date.
- · The repayment was made pursuant to SEBI Circular SEBI/HO/DDHS/DDHS/CIR/P/2019/115 dated October 22, 2019.
22-09-2026
Pilani Investment and Industries Corporation Limited redeemed its Commercial Paper (ISIN: INE 417C14AU5) on its maturity date of September 22, 2026. The instrument was originally issued on June 23, 2026, and the redemption was completed on schedule. No financial details or amounts were disclosed in the filing.
- · Commercial Paper issued on 23rd June, 2026
- · Redemption date: 22nd September, 2026
- · ISIN: INE 417C14AU5
- · Scrip Code: 731974
22-09-2026
Ramchandra Leasing & Finance Limited (now Raama Finance Limited) announced the issuance of 5,000 unlisted, unrated, secured, redeemable, non-convertible debentures (NCDs) under Series A, aggregating to ₹5,00,00,000 (₹5 Crore), on a private placement basis. The NCDs carry a 20% per annum coupon, payable monthly, with an 18-month tenure and 125% security cover over receivables. Additionally, Mr. Jitendar Prasad was appointed as Chief Executive Officer (CEO) and Key Managerial Personnel (KMP) effective September 22, 2026, bringing over 24 years of experience in banking and housing finance, having managed AUM of over ₹18,200 crore.
- · The NCDs are unlisted and unrated, with a monthly coupon payment schedule.
- · Principal is to be redeemed upon maturity out of profits.
- · Security is created over receivables at 125% of the debenture amount, maintained throughout the tenure.
- · The appointment of Mr. Jitendar Prasad as CEO is under the Non-Promoter Executive category.
- · Mr. Prasad holds an MBA in Marketing and B.Sc. in Physics from Pune University and has completed executive programs at INSEAD, Asian Institute of Management, and University of Nottingham.
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