₹100.00 Cr| Listing at BSE | Fri, Jun 5, 2026 - Thu, Jun 18, 2026
Prachay Capital Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture with a base issue size of ₹50.00 Cr and an option to retain oversubscription up to ₹50.00 Cr, aggregating to a total issue size of ₹100.00 Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Prachay Capital Ltd. NCD issue opens on Jun 5, 2026 and closes on Jun 18, 2026. NCD are proposed to be listed on the BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹10,000, while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 12.25% per annum to 12.75% per annum, depending on the series and tenure selected.
The NCD has been rated: BBB Stable by Infomerics Valuation and Rating Private Limited.
SKI Capital Services Ltd. is the Lead Manager to the issue, Catalyst Trusteeship Ltd. is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Fri, Jun 5, 2026
Close Date
Thu, Jun 18, 2026
Issue Size (Overall)
₹100.00 Cr
| # | Series 1 | Series 2 | Series 3 |
|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly |
| Nature | Secured | Secured | Secured |
| Tenor | 36 Months | 48 Months | 60 Months |
| Coupon (% per Annum) | 12.25% | 12.50% | 12.75% |
| Effective Yield (% per Annum) | 12.96% | 13.24% | 13.52% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
Prachay Capital Ltd. NCD Rating given as following :
| # | Rating Agency | NCD Rating | Outlook | Safety Degree | Risk Degree |
|---|---|---|---|---|---|
| 1 | Infomerics Valuation and Rating Private Limited | BBB | Stable | Moderate degree of safety | Moderate credit risk |
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 371.60 | 313.20 | 233.93 |
| Total Income | 58.63 | 42.53 | 36.74 |
| Profit After Tax | 12.53 | 11.02 | 10.32 |
| Amount in ₹ Crore | |||
The promoter of the company is Girish Murlidhar Lakhotiya.
| Category | Allocated (%) |
|---|---|
| Institutional | 1.00% |
| Non-Institutional | 9.00% |
| HNI | 40.00% |
| Retail | 50.00% |
| Total | 100.00% |
Incorporated in February, 2017, Prachay Capital Limited is a RBI registered non-deposit taking Non-Banking Financial Company.
The organization primarily delivers structured financial solutions to real estate developers, particularly within the mid to large business segment. Its operations are concentrated in Pune, Maharashtra, with plans for expansion into other cities such as Hyderabad and Bhubaneswar.
The company is a subsidiary of the Prachay Group, which also encompasses a boutique investment banking firm known as Prachay Advisors.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | For the purpose of onward lending. | 71.58 |
| 2 | General corporate purposes. | 23.86 |
| Total | 95.43 |
[Dilip Davda] This is the 4th debt offer from the company since February 2025. The last debt offer from the company was in February 2026. This debt offer is rated BBB/Stable by IVR and offers 12.25% to 12.75% coupon rates based on series selected. For this debt offer, the company has changed its lead manager as well as the credit rating agency. The company has reduced the coupon rates by 25 bps for all categories. Though it appears very lucrative, poor rating raise caution. There is no harm in skipping this risky bet with poor rating. Read detail review...
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Prachay Capital Ltd.
Office No 1401/1402, 14th Floor, Next Gen Avenue
WIngB, CTS No2850, S No.103, Bahiratwadi, Near ICC
Tower, Senapati Bapat Rd, Model colony
Pune, Maharashtra, 411016
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Prachay Capital Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
