Nashik Municipal Corporation NCD February 2026
NCD Issue Opens on 25 February 2026
NCD Issue Closes on 2 March 2026
NCD Review/Guidance is given at the bottom of the post
About the Company
| Particulars |
Details |
| Company Name |
Nashik Municipal Corporation |
| Business |
Urban administration, infrastructure development and civic services |
| Key Services |
Water supply, sanitation, healthcare, roads and municipal planning |
| Objective |
Public utility infrastructure development and urban expansion |
| Website |
https://nashikcorporation.in/ |
NCD Promoter: Nashik Municipal Corporation
NCD Rating
| S.No. |
Rating Agency |
NCD Rating |
Outlook |
Safety Degree |
Risk Degree |
| 1 |
India Ratings & Research Pvt Ltd |
IND AA+ |
Stable |
High degree of safety |
Very low credit risk |
| 2 |
CRISIL Ratings Ltd |
CRISIL AA+ |
Stable |
High degree of safety |
Very low credit risk |
Nashik Municipal Corporation NCD February 2026 Details
| Particulars |
Details |
| Issue Open |
February 25, 2026 |
| Issue Close |
March 2, 2026 |
| Security Name |
Nashik Municipal Corporation |
| Security Type |
Unsecured Subordinated Non-Convertible Debentures |
| Issue Size (Base) |
Rs 100.00 Crores |
| Issue Size (Oversubscription) |
Rs 100.00 Crores |
| Overall Issue Size |
Rs 200.00 Crores |
| Issue Price |
Rs 1000 per NCD |
| Face Value |
Rs 1000 each NCD |
| Minimum Lot Size |
10 NCD |
| Market Lot |
1 NCD |
| Listing At |
BSE, NSE |
| Basis of Allotment |
First Come First Serve |
| Debenture Trustee |
Beacon Trusteeship Ltd. |
| Lead Manager |
A.K. Capital Services Ltd. |
| Registrar |
Purva Sharegistry (India) Pvt Ltd |
NCD Allocation (%)
| Category |
Allocation (%) |
| Institutional |
– |
| Non-Institutional |
– |
| Retail |
– |
| Total |
100.00% |
Nashik Municipal Corporation NCD Coupon Rates
| Particulars |
STRPP A |
STRPP B |
STRPP C |
STRPP D |
STRPP E |
STRPP F |
STRPP G |
STRPP H |
| Interest Payment |
Half Yearly |
Half Yearly |
Half Yearly |
Half Yearly |
Half Yearly |
Half Yearly |
Half Yearly |
Half Yearly |
| Nature |
Unsecured |
Unsecured |
Unsecured |
Unsecured |
Unsecured |
Unsecured |
Unsecured |
Unsecured |
| Tenor |
3 Years |
4 Years |
5 Years |
6 Years |
7 Years |
8 Years |
9 Years |
10 Years |
| Coupon (% p.a.) |
8.05% |
8.05% |
8.05% |
8.05% |
8.05% |
8.05% |
8.05% |
8.05% |
| Effective Yield (% p.a.) |
8.20% |
8.20% |
8.20% |
8.20% |
8.20% |
8.20% |
8.20% |
8.20% |
| Amount on Maturity (Rs.) |
125.00 |
125.00 |
125.00 |
125.00 |
125.00 |
125.00 |
125.00 |
125.00 |
Each NCD consists of 8 STRPP of face value Rs 125 each.
Objects of the Issue
| S.No. |
Objects |
Amount (Rs Cr) |
| 1 |
Mukane Water Supply Scheme – Water Treatment Plant & Gravity Main Construction for Sinhastha Kumbh |
198.18 |
| Total |
|
198.18 |
Nashik Municipal Corporation Financial Information
| Particulars (Rs Cr) |
FY25 |
FY24 |
FY23 |
| Assets |
13,434.20 |
12,465.99 |
11,799.12 |
| Total Income |
2,312.90 |
2,025.07 |
1,974.96 |
| Profit After Tax |
646.34 |
471.79 |
568.58 |
| Reserves & Surplus |
10,169.98 |
9,465.97 |
8,933.05 |
Address of the Company
| Particulars |
Details |
| Company Name |
Nashik Municipal Corporation |
| Address |
Rajiv Gandhi Bhavan, Sharanpur Road, Nashik, Maharashtra – 422002 |
| Phone |
0253-2579983 |
| Email |
nmc.bond200@gmail.com |
NCD Registrar
| Particulars |
Details |
| Registrar |
Purva Sharegistry (India) Pvt Ltd |
| Phone |
+91-022-23018261 / 23016761 |
| Email |
support@purvashare.com |
NCD Lead Manager(s)
| Particulars |
Details |
| Lead Manager |
A.K. Capital Services Ltd. |
Nashik Municipal Corporation NCD – February 2026 Review
Nashik Municipal Corporation’s NCD issue aggregates up to Rs 200 Cr and offers coupon rates of 8.05% p.a. across tenures ranging from 3 to 10 years with half-yearly interest payments. The AA+ (Stable) ratings from India Ratings and CRISIL indicate high safety and very low credit risk compared to many corporate NCD issuances.
The proceeds are primarily earmarked for the Mukane Water Supply Scheme and infrastructure development linked to the Sinhastha Kumbh project. Financials reflect steady asset growth and stable municipal revenue backing.
Chanakya View: Suitable for conservative income-focused investors seeking relatively high-quality municipal debt exposure with stable yields. Conservative investors may prefer such higher-rated debt despite moderate coupon levels.
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