Usha Financial Services Withdraws 13.15% NCD Issuance After Failed Private Placement

Board on 16 Sep 2026 withdrew and closed the 13.15% unlisted rated senior secured redeemable NCD private placement due to non-receipt of subscription monies. Reverses the just-approved first NCD tranche under the recent enabling; failed placement signals weak investor demand for a funding-dependent wholesale-led lender. Leaves funding and debt rotation unresolved; redemption leg and next placement attempt undisclosed; revised terms or alternative borrowing pending.