JMJ Fintech Allots Rs 2 Crore NCDs Approves Rs 5 Crore Borrowing

Board allotted 2,000 secured unlisted redeemable NCDs of Rs 10,000 each for Rs 2 Cr on private placement and authorised MD to borrow up to Rs 5 Cr from Shriram Finance. NCDs in two schemes at 12% for 3 years due Oct 2029 and 12.5% for 5 years due Oct 2031 with monthly payouts, secured by pari passu charge on receivables. Adds Rs 7 Cr debt headroom for lending business; allottees, use of proceeds and Shriram loan terms not disclosed; Shriram loan yet to be availed.