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. The BSE-listed company issued 300,000 NCDs of ₹1,000 face value each.
The Board approved the allotment by circulation on 8 August 2026. The three-year NCDs were allotted that day and mature on 8 August 2029. They pay interest of 16.65 per cent a year, monthly. Principal is subject to an eight-month moratorium, then equal monthly repayments from the end of the ninth month after disbursement.
The allotment is tranche 1 of a private-placement programme of up to ₹50 crore that the Board approved on 1 August. The NCDs are not proposed to be listed.
Outstanding amounts under the NCDs are secured, among other things, by a first-ranking pari passu charge by way of hypothecation over the hypothecated properties of Veefin and of the security providers. The hypothecation deeds, a share-pledge agreement covering equity of the underlying company held by Promoters Gautam Udani and Raja Debnath, personal guarantees from the Promoters, and corporate guarantees from subsidiaries GlobeTf Solutions Limited and Estorifi Solutions Limited are dated 6 August 2026. Veefin must also escrow 50 per cent of receivables within 30 days of receiving the subscription amount for the first-tranche debentures.
On an event of default, Veefin is liable for default interest of 2 per cent a month on the outstanding amount. The NCDs are redeemable on maturity or earlier under the transaction documents. No special rights attach to the instruments.
Veefin builds supply-chain finance and digital lending software for banks, non-bank lenders and other regulated financial institutions. It has been listed on BSE since 2023.
Stride Ventures Debt Fund 4, the identified investor, is a Category II alternative investment fund registered with the Securities and Exchange Board of India. The Fund is a close-ended scheme of Stride Ventures India Focus Fund. Stride Ventures manages venture debt and growth credit. The Economic Times reported in December 2024 that the firm had launched Fund IV with a $300 million target after a $165 million final close of Fund III, and that its venture-debt commitments had passed $1 billion. Managing Partner Apoorva Sharma told the newspaper that Fund IV would remain sector-agnostic, with a continued focus on consumer, financial services and cleantech. Stride now says it has enabled more than $1.6 billion of credit across seven funds.