Stashfin Pioneers Retail NCDs on BSE Following SEBI Amendment

Stashfin, through its parent company AKARA Capital Advisors, has become the first fintech NBFC to offer Non-Convertible Debentures (NCDs) at Rs 10,000 on the BSE, aiming to raise Rs 100 crore. This follows SEBI's regulatory change in July that lowered the minimum face value of debt securities, enhancing accessibility for retail investors.

In a groundbreaking move, financial services platform Stashfin announced on Wednesday that its parent company, AKARA Capital Advisors, has become the first fintech NBFC to offer Non-Convertible Debentures (NCDs) at a face value of Rs 10,000 on the BSE. This strategic initiative aims to raise Rs 100 crore through the issuance of bonds.

This offering comes in the wake of a recent regulatory change by market watchdog SEBI, which in July lowered the minimum face value of debt securities from Rs 1,00,000 to Rs 10,000. The shift is designed to enhance financial inclusion and make investment opportunities more accessible to retail investors across the nation.

"Through this bond issue, we aim to raise Rs 100 crore over the next quarter. This milestone underscores Stashfin's role as the first fintech company to democratise investment opportunities for retail investors," the company stated in a release. The first tranche, valued at Rs 6.5 crore, was fully subscribed on the retail platform.

Commenting on the development, Tushar Agarwal, founder and CEO of Stashfin, hailed SEBI's move as a game-changer for financial markets. "This significantly lowers the entry barriers for retail investors and broadens participation in debt securities," he emphasized.

Stashfin also highlighted that the regulatory amendment by SEBI aims to transform bond investments, thereby boosting accessibility and appeal for retail investors. Moreover, SEBI has mandated a standardised record date of 15 days before any interest payment or redemption to ensure transparency and consistency in the market.

(With inputs from agencies.)