NCD Issue Opened: October 5, 2026
NCD Issue Closed: October 9, 2026 — Early Closure

NCD guidance is given at the bottom of this post.

Last Update: October 12, 2026

About SMC Global Securities

Established in 1994, SMC Global Securities operates a diversified financial-services business covering securities brokerage, wealth management, portfolio management, investment banking, financial-product distribution, insurance broking and financing.

Its services also include clearing and depository operations, fixed-income securities and financial advisory. This diversified model provides multiple revenue streams, although earnings remain sensitive to market activity, trading volumes and financing-business performance.

Company website: SMC Global Securities

NCD Promoters

The promoters are Subhash Chand Aggarwal, Mahesh C. Gupta, Damodar Krishan Aggarwal, Sushma Gupta, Himanshu Gupta and Pranay Aggarwal.

NCD Issue Details

The issue originally carried an October 16 closing date. An exchange-linked announcement records an early-closure advertisement on October 9; the supplied final snapshot states that the issue closed that day.

Listing: The supplied snapshot mentions NSE and BSE, while retrieved issue summaries identify BSE. Investors should use the allotment advice and final listing notice to confirm the exchange and series ISINs.

NCD Rating

ICRA assigned [ICRA]A (Stable) to SMC Global Securities’ NCDs. This rating indicates an adequate degree of safety regarding timely servicing of financial obligations and low credit risk within the agency’s rating scale. It is subject to revision and does not guarantee repayment.

Secured status provides recourse to specified assets; it does not eliminate default risk or guarantee immediate recovery.

NCD Coupon Rates and Maturity Options

Series 5 pays a 9.57% annual coupon through monthly instalments. Its stated 10% effective yield reflects payment frequency and compounding; it is not a 10% cash coupon. For payout series, the redemption figure represents principal, with interest paid separately.

Financial Performance — Rs. Crore

Chanakya Interpretation: FY26 total income increased approximately 4.52%, while PAT declined 22.74%. Profit has fallen across the supplied three-year annual series despite rising income, indicating pressure on consolidated profitability.

Net worth increased, providing a larger equity cushion. However, NCD investors should assess debt servicing through cash flow, interest coverage, borrowing levels and security cover alongside profits.

Purpose of the Issue

The company intends to use the net proceeds for:

• Working-capital requirements
• General corporate purposes

These funds support ongoing business operations. Their benefit to debenture holders depends on disciplined deployment and the company’s ability to service interest and principal.

Final Subscription Status

HNI demand led subscriptions. Subscription strength reflects demand for the issue and does not establish credit quality or assure secondary-market liquidity.

Company Contact Details

SMC Global Securities Ltd.
11/6B, Shanti Chamber, Pusa Road, New Delhi–110005
Telephone: +91-11-30111000
Email: smcncd@smcindiaonline.com

Registrar, Lead Manager and Trustee

Chanakya NCD Guidance

Chanakya View: 🟡 Selective allocation for investors comfortable with corporate credit risk.

The coupon offers an attractive income proposition, but A-rated corporate debt requires closer monitoring than higher-rated debt. Declining annual profits warrant attention to cash generation and repayment capacity.

For investors prioritising a shorter commitment, the 24-month options offer a more measured tenure choice. Extending from the two-year annual series to the five-year annual series adds only 0.50 percentage point to the coupon while increasing the holding period substantially.

The issue is now closed. Before purchasing on an exchange, check the market price, accrued interest, yield to maturity, remaining tenure, latest rating and trading liquidity. The original coupon does not equal the return available at a different purchase price.

Keep exposure diversified and use money that can remain invested until maturity.