AKARA Capital has become the first FinTech NBFC to offer Non-Convertible Debentures (NCDs) with a face value of Rs 10,000 on the Bombay Stock Exchange (BSE). This bold initiative, aimed at raising Rs 100 crore, comes on the heels of a key regulatory reform by the Securities and Exchange Board of India (SEBI). By lowering the minimum face value of debt securities from Rs 1,00,000 to Rs 10,000, SEBI has opened doors for increased participation from retail investors, fostering greater financial inclusion across India.
The issuance by AKARA Capital is seen as a major milestone in the company’s journey to democratise investment opportunities. Through this offering, retail investors can now access secure and diversified investment options at a much lower entry point, making the capital markets more accessible than ever before.
Tushar Aggarwal, Founder and CEO, Stashfin, called it a “game-changer” for India’s financial markets.
“This development significantly lowers the entry barriers for retail investors and broadens participation in debt securities,” he said.
The first tranche of NCDs, valued at Rs 6.5 crore, was fully subscribed, signalling strong demand from retail investors. Over the next quarter, AKARA Capital aims to raise an additional Rs 100 crore, further emphasising its commitment to make debt instruments available to a wider audience.