Prachay Capital NCD December 2025
NCD Issue Opens on 11 December 2025
NCD Issue Closes on 24 December 2025
🕗 Last Update: 16 December 2025, 6.00 AM
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About the Company:
Incorporated in February 2017, Prachay Capital Limited is an RBI registered, non-deposit taking NBFC. The company primarily provides structured financial solutions to real estate developers, especially in the mid to large segment. Its operations are currently concentrated in Pune, Maharashtra, with expansion plans into cities such as Hyderabad and Bhubaneswar.
Prachay Capital is a subsidiary of the Prachay Group, which also includes a boutique investment banking firm Prachay Advisors.
Get more details about the company @ https://prachay.com/
NCD Promoter: The promoter of the company is Girish Murlidhar Lakhotiya.
NCD Rating
The NCDs have been rated BBB- by Crisil Ratings Limited, indicating a moderate degree of safety and moderate credit risk.
Prachay Capital NCD December 2025 Details
| Particulars | Details |
|---|---|
| Issue Open | December 11, 2025 |
| Issue Close | December 24, 2025 |
| Security Name | Prachay Capital Ltd. |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs. 75.00 Crores |
| Issue Size (Oversubscription) | Rs. 75.00 Crores |
| Overall Issue Size | Rs. 150.00 Crores |
| Issue Price | Rs. 1,000 per NCD |
| Face Value | Rs. 1,000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Ltd. |
Prachay Capital Ltd. NCD Coupon Rates
| Particulars | Series 1 | Series 2 | Series 3 |
|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly |
| Nature | Secured | Secured | Secured |
| Tenor | 36 Months | 48 Months | 60 Months |
| Coupon (% per Annum) | 12.50% | 12.75% | 13.00% |
| Effective Yield (% per Annum) | 13.24% | 13.52% | 13.80% |
| Amount on Maturity (In Rs.) | Rs. 1,000.00 | Rs. 1,000.00 | Rs. 1,000.00 |
NCD Allocation Ratio
| Category ? | NCD’s Allocated (%) | NCD’s Shares Reserved |
|---|---|---|
| Institutional | 1.00% | 7,500 |
| Non-Institutional | 50.00% | 3,75,000 |
| HNI | 40.00% | 3,00,000 |
| Retail | 9.00% | 67,500 |
| Total | 100.00% | 7,50,000 |
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards:
-
For the purpose of onward lending.
-
Investments in current and future AIF schemes managed by subsidiary Prachay Investment Managers Private Limited (investments in unlisted privately placed corporate bonds).
-
Repayment / pre-payment (in part or full) of certain outstanding borrowings.
-
General Corporate Purposes.
Prachay Capital December 2025 NCD Subscription Status
The Prachay Capital December 2025 NCD was subscribed 1.01 times on Dec 15, 2025 @ 17:04.
| Category | Subscription (times) |
|---|---|
| Retail | 3.52x |
| HNI | 1.19x |
| Non-Institutional | 0.43x |
| Institutional | 0.00x |
| Total | 1.01x |
Check Day by Day Bidding Details
Financial Information (Restated)
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|---|---|---|
| Assets | 371.60 | 313.20 | 233.93 |
| Total Income | 58.63 | 42.54 | 36.74 |
| Profit After Tax | 12.53 | 11.02 | 10.32 |
Amount in Rs. Crore
Address of the Company
Prachay Capital Ltd.
Office No 1401/1402, 14th Floor, Next Gen Avenue,
Wing B, CTS No 2850, S No. 103, Bahiratwadi, Near ICC Tower,
Senapati Bapat Rd, Model Colony, Senapati, Manipur, 411016
Phone: 02025532224
Email: info@prachay.com
Website: https://prachay.com/
NCD Lead Managers
Synfinx Capital Pvt. Ltd.
NCD Registrar
Kfin Technologies Ltd.
KFintech, Tower-B, Plot No 31 & 32, Financial District, Nanakramguda, Gachibowli, Hyderabad, Telangana India – 500 032
Phone: 04067162222, 04079611000
Email: prachay.ncdipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Prachay Capital NCD December 2025 Review
Prachay Capital has shown steady growth in scale, with assets rising to Rs. 371.60 crore in FY25 and income increasing 38% YoY (FY25 vs FY24). Profitability improved modestly with PAT up 14% to Rs. 12.53 crore. The NCDs offer an attractive yield of up to 13.80% (effective), but investors must note the BBB- rating, which implies moderate safety and higher credit risk than A-rated issuers.
Given the company’s lending exposure to real estate developers, risk perception can rise during downcycles in property markets and liquidity tightening phases. Subscription trends show stronger retail interest so far, while institutional participation is negligible.
Suitable only for investors who understand NBFC credit risk and can accept BBB- rated exposure for higher returns. Conservative investors may prefer higher-rated alternatives.
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Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
