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Prachay Capital Ltd. NCD (Prachay Capita NCD February 2026) Detail

₹100.00 Cr| Listing at BSE | Thu, Feb 26, 2026 - Thu, Mar 12, 2026

IPO Stats

Prachay Capital Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture with a base issue size of ₹50.00 Cr and an option to retain oversubscription up to ₹50.00 Cr, aggregating to a total issue size of ₹100.00 Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.

Prachay Capital Ltd. NCD issue opens on Feb 26, 2026 and closes on Mar 12, 2026. NCD are proposed to be listed on BSE.

The minimum lot size is 10 NCDs, requiring a minimum investment of ₹10,000 , while the market lot for trading is 1 NCD.

The issue offers interest rates ranging from 12.50% per annum to 13.00% per annum, depending on the series and tenure selected.

The NCD has been rated: BBB- Stable by Crisil Ratings Limited.

Kreo Capital Pvt.Ltd. is the Lead Manager to the issue, Catalyst Trusteeship Ltd. is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.

Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.

Open Date

Thu, Feb 26, 2026

Close Date

Thu, Mar 12, 2026

Issue Size (Tranche)

₹100.00 Cr

Coupon Rate

Upto 13% p.a.

IPO Details

Security Name

Prachay Capital Ltd.
Issue Size (Base)

₹50.00 Cr
Overall Issue Size

₹100.00 Cr
Face Value

₹1000 each NCD
Market Lot

1 NCD
Basis of Allotment

FCFS

Security Type

Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Oversubscription)

₹50.00 Cr
Issue Price

₹1000 per NCD
Minimum Lot size

10 NCD
Listing at

BSE
Debenture Trustee/s

Mitcon Credentia Trusteeship Services Ltd.

NCD Coupon Rates

#	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 Rating

Edelweiss Financial Services Ltd. NCD Rating given as following :


Rating Agency	NCD Rating	Outlook	Safety Degree	Risk Degree
1. Crisil Ratings Limited	BBB-	Stable	Moderate degree of safety	Moderate credit risk

Company Financials (Restated Consolidated)

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	371.60	313.20	233.93
Total Income	58.63	42.53	36.74
Profit After Tax	12.53	11.02	10.32
Amount in ₹ Crore

Company Promoters

The promoter of the company is Girish Murlidhar Lakhotiya.

NCD Allocation

Category	Allocated (%)	Shares Reserved
Institutional	1.00%	5,000
Non-Institutional	19.00%	95,000
HNI	60.00%	3,00,000
Retail	20.00%	1,00,000
Total	100.00%	5,00,000

About Prachay Capital Ltd.

Incorporated in February, 2017, Prachay Capital Limited is a RBI registered non-deposit taking Non-Banking Financial Company.

The organization primarily delivers structured financial solutions to real estate developers, particularly within the mid to large business segment. Its operations are concentrated in Pune, Maharashtra, with plans for expansion into other cities such as Hyderabad and Bhubaneswar.

The company is a subsidiary of the Prachay Group, which also encompasses a boutique investment banking firm known as Prachay Advisors.

Objects of the Issue

The following table details the objects of the Issue (collectively, referred to herein as the“Objects”) and the amount proposed to be financed from the Net Proceeds.

For the purpose of onward lending
For the purpose of investments in current and future AIF schemes of our alternate asset management business managed by their Subsidiary Prachay Investment Managers Private Limited, which investments will be used for investments in unlisted privately placed corporate bonds.
For repayment / pre-payment, in full or in part, of certain outstanding borrowings availed by the Company
General Corporate Purposes.

NCD Review

[Dilip Davda] PCL is engaged in investment related financial services and lending. This is the 3rd debt offer from the company since February 2025. It marked average growth in its top and bottom lines for the reported periods. This debt offer is rated BBB -/Stable by CRISIL and offers 12.50% to 13% coupon rates for the term selected. The coupon rates are very lucrative, but the rating is poor. Well-informed investors may park moderate funds for regular interest income. Read detail review…

NCD Subscription Status

The Prachay Capita NCD February 2026 was subscribed 1.98 times on Mar 12, 2026 17:00. The NCD subscribed 2.72 times in Retail, 1.90 times in HNI, 1.59 times in Non-Institutional, and 0.00 times in Institutional category.

Category	Subscription (times)
Retail	2.72x
HNI	1.90x
Non-Institutional	1.59x
Institutional	0.00x
Total	1.98x

Check Day by Day Bidding Details

Company Contact Information

Prachay Capital Ltd.
Office No 1401/1402, 14th Floor, Next Gen Avenue
WIngB, CTS No2850, S No.103, Bahiratwadi, Near ICC
Tower, Senapati Bapat Rd, Model colony
Pune, Maharashtra, 411016

02025532224
info@prachay.com
Visit Website

NCD Registrar

Kfin Technologies Ltd.

04067162222, 04079611000
prachay.ncdipo@kfintech.com
Visit Website

NCD Lead Manager(s)

Kreo Capital Pvt.Ltd.

IPO FAQs

How to apply Prachay Capital Ltd. NCD IPO?

NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.

To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.

Steps to invest in NCD IPO through GoldenPi

Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.

Visit www.goldenpi.com
Look for the “Collections” tab.
Click on Best Ongoing IPOs.
Select the desired NCD IPO.
Select the series and investment quantity.
Enter your name, email ID and mobile number for verification.
Enter PAN and demat account details,
Enter the UPI ID.
Click on “Apply IPO”.
Approve the UPI mandate.

Steps to apply for NCD IPO with Indiabonds:

Visit www.indiabonds.com
Look for the ‘Products’ section on the home page.
Go to Public Issue
Select the desired NCD.
Click on ‘Apply Now’.
Select the investor type and category.
Select the investment series and enter the quantity.
Click on Invest.
Enter the personal details, i.e. name, date of birth, e-mail, contact, address, demat information and payment details.
Preview and confirm the form.
Confirm the UPI mandate upon receipt.

How to buy Prachay Capital Ltd. NCD?

You can buy or invest in NCD IPOs through the following intermediaries:

Registered stock brokers, for example, Angel Broking.
Self-certified underwriters.
Depository Participants.
NSE platform – NSEgoBid.
BSE platform – BSEDirect.

The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.

Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.

Important links :

Web links of BSEDirect and NSEgoBID.
PlayStore links for BSEDirect and NSEgoBID.
AppStore links for BSEDirect and NSEgoBID.

Read more about NCD Application Process.

What is the coupon rate in Prachay Capital Ltd. NCD?

The coupon rates for Prachay Capital Ltd. NCDs vary depending on the series and tenure.

Specifically, Series 1 offers 12.50% for 36 months, Series 2 offers 12.75% for 48 months, Series 3 offers 13.00% for 60 months, and the highest coupon rate of 13.00% is offered for Series 3 with tenures 60 months.

What is the minimum amount to be invested in Prachay Capital Ltd. NCD?

The minimum amount required for NCD investment is Rs. 10,000.

Generally, the minimum lot size of NCD is 10, and the face value is 1,000.

How to check Prachay Capital Ltd. NCD Allotment status?

NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.

Steps to check the NCD allotment status at the BSE:

Visit the BSE status of the issue application page.
Select the Issue type – Debt.
Select the Issue name from the drop-down list.
Enter your application number or PAN.
Tick ‘I’m not a robot’ button.
Click on Search.

Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant’s Aadhaar number to check the status.

Generally, all applicants receive full allotment due to the retention of the oversubscription option.

Read more information on NCD Subscription and NCD Allotment Process.

Can we withdraw Prachay Capital Ltd. NCD before maturity?

No, you cannot withdraw or redeem Prachay Capital Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:

Listing on Stock Exchange (Secondary Market Sale)

If the NCDs are listed on stock exchanges (like BSE/NSE), you can:

Sell them on the exchange before maturity, just like shares.

Early redemption by the company

Only possible if a “call option” exists.

Read more about NCD Subscription and Allotment Process

Can the Prachay Capital Ltd. NCD bid be cancelled or withdrawn after applying?

Bid Cancellation and Withdrawal Policy for NCD Applicants

Before Issue Closure:
Applicants are allowed to cancel their bid at any time before the issue closing date.
After Issue Closure:
Some issuers may permit bid withdrawal even after the issue has closed.
In such cases, the applicant must:
- Submit a withdrawal request to the Registrar to the Issue.
- Ensure the request is made before the finalisation of the Basis of Allotment.
- Submit the request no later than two working days from the date of issue closure (or early closure, if applicable).

Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.