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Prachay Capital NCD (Prachay Capital NCD June 2026) Details, Time Table and Interest Rate
Prachay Capita NCD June 2026 Coupon Rates (Payout Details)
| Series | Series 1 | Series 2 | Series 3 |
|---|---|---|---|
| Interest Payment (Frequency) | 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 ₹) | ₹1,000.00 | ₹1,000.00 | ₹1,000.00 |
Prachay Capital Financials (Restated Consolidated)
Annual Performance (31 Mar 25 vs 31 Mar 24)
Prachay Capital Financials (Restated Consolidated)'s Assets increased by 18.6%, Revenue increased by 37.9%, Profit After Tax increased by 13.7% compared to the previous financial year.
Assets
▲ 18.6%
(58.4)
Revenue
▲ 37.9%
(16.1)
Profit After Tax
▲ 13.7%
(1.51)
Previous Financial Year Growth (31 Mar 24 vs 31 Mar 23)
Comparing 31 Mar 24 with 31 Mar 23, Assets increased by 33.9%, Revenue increased by 15.8%, Profit After Tax increased by 6.8%.
Assets (Prev Yr)
▲ 33.9%
(79.27)
Revenue (Prev Yr)
▲ 15.8%
(5.79)
Profit After Tax (Prev Yr)
▲ 6.8%
(0.7)
2-Year Performance Change (31 Mar 23 To 31 Mar 25)
Between 31 Mar 25 and 31 Mar 23, Assets increased by 58.9%, Revenue increased by 59.6%, Profit After Tax increased by 21.4%.
Assets (2-Yr Change)
▲ 58.9%
(137.67)
Revenue (2-Yr Change)
▲ 59.6%
(21.89)
Profit After Tax (2-Yr Change)
▲ 21.4%
(2.21)
| 31 Mar 25 In Cr. | 31 Mar 24 In Cr. | 31 Mar 23 In Cr. | |
|---|---|---|---|
| Assets | 371.6 | 313.2 | 233.93 |
| Revenue | 58.63 | 42.53 | 36.74 |
| Profit After Tax | 12.53 | 11.02 | 10.32 |
About Prachay Capital
Incorporated in 2017, Prachay Capital Limited is an RBI registered, non deposit taking Non-Banking Financial Company (NBFC-ICC) under the Base Layer category. The company primarily caters to the credit and investment needs of mid-sized businesses that are often underserved by traditional banking and debt capital markets.
It operates on a dual sided business model that bridges the gap between investors and growing businesses
- Liability Side (Capital Mobilisation): The company sources funds by issuing High Yield Fixed Income (HYFI) securities, offering predictable returns to investors with surplus capital
- Asset Side (Capital Deployment): The company undertakes corporate finance activities, providing customised private credit, real estate finance, and corporate bond solutions to mid-sized enterprises
Prachay Capital NCD June 2026 Review
Prachay Capital Limited is offering Listed, Rated, Secured, Redeemable, Non-Convertible Debentures (NCDs) to raise a base amount of ₹50 crore, with an option to retain oversubscription up to ₹50 crore (total issue size up to ₹100 crore). The NCDs offer attractive fixed interest rates with a monthly payout. The issue has been rated “IVR BBB/Stable” by Infomerics Valuation and Rating Ltd, which signifies a moderate degree of safety and moderate credit risk regarding the timely servicing of financial obligationsStrength of Prachay Capital NCD June 2026
- High Yields: The NCDs offer highly competitive interest rates, yielding up to 13.52% per annum.
- Asset Security: The NCDs are secured by a first ranking pari-passu charge on the company’s present and future loan receivables and other assets. The company is required to maintain a 100% (1 time) minimum security cover on the outstanding principal and interest at all times
- Strong Asset Quality (Zero NPAs): Since its inception, Prachay Capital has maintained a healthy asset quality with Nil Gross and Net Non Performing Assets (NPAs) as of 31 March 2026.
Weakness of Prachay Capital NCD June 2026
- Moderate Credit Rating: The “IVR BBB/Stable” rating indicates moderate credit risk. If the company faces a rating downgrade in the future, it could increase their borrowing costs, constrain their access to capital, and negatively impact the value of these NCDs
- High Sector Concentration: The company is heavily reliant on the commercial real estate sector, which accounts for over 97% of its AUM. Any adverse developments, regulatory changes, or price declines in the real estate market could significantly impact their ability to recover loans and adversely affect their financial condition.
- Highly Leveraged Capital Structure: The company operates with high debt levels. On a standalone basis, its pre issue debt-to-equity ratio sits at 3.09, which is expected to rise to 3.96 post issue. A continuous increase in borrowings and leverage constraints their financial flexibility.
Company Promoters
Girish Murlidhar Lakhotiya are the company promoters.
Prachay Capita NCD June 2026 Object of Issue
| S.No | Objects | Amount (in ₹, Cr) |
|---|---|---|
| 1 | For the purpose of onward lending. | 71.58 |
| 2 | General corporate purposes. | 23.86 |
| Total: | 95.44 | |