Veefin Solutions Limited has allotted ₹30 crore of unrated, unlisted, secured, redeemable non-convertible debentures to Stride Ventures Debt Fund 4 on a private-placement basis.
The allotment comprises 300,000 NCDs of ₹1,000 face value each. Veefin's board approved the issue by circulation on 8 August 2026, and the debentures were allotted the same day. They mature on 8 August 2029.
The NCDs carry interest of 16.65 per cent a year, payable monthly. Principal repayment has an eight-month moratorium, after which it will be repaid in equal monthly instalments from the end of the ninth month.
The issuance is the first tranche under an NCD programme of up to ₹50 crore approved by Veefin's board on 1 August 2026. The debentures are not proposed to be listed.
Security for the NCDs includes a first-ranking pari passu hypothecation, a pledge of underlying company equity held by Promoters Gautam Udani and Raja Debnath, personal guarantees, and corporate guarantees from GlobeTf Solutions Limited and Estorifi Solutions Limited. The security documents are dated 6 August 2026.
Veefin will also escrow 50 per cent of receivables within 30 days of the first-tranche subscription. Default interest is 2 per cent a month. The NCDs carry no special rights.
Veefin builds supply-chain finance and digital lending software for banks, non-bank lenders and regulated financial institutions. The company has been listed on BSE since 2023.
Stride Ventures Debt Fund 4 is a SEBI Category II alternative investment fund and a close-ended scheme of Stride Ventures India Focus Fund. In December 2024, The Economic Times reported that Stride Ventures had launched Fund IV with a $300 million target after a $165 million final close of Fund III. Stride says it has enabled more than $1.6 billion of credit across seven funds.