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Overview Of Non - Convertible Debentures
Non-Convertible Debentures (NCDs) are fixed-income instruments issued by companies to raise long-term capital from investors. They are called “non-convertible” because, unlike convertible debentures, they cannot be converted into shares of the issuing company during their lifetime. In essence, when investors buy NCDs, they lend money to the company in exchange for fixed, regular interest payments and the return of the principal amount on maturity.
NCDs are suitable for investors seeking stable, predictable returns without equity market volatility, and they generally offer higher interest rates than bank fixed deposits or government bonds.
Types Of NCDS
Secured
A secured NCD is a debt instrument from a company that is backed by specific company assets as collateral. This means that in case the company defaults on its payments, investors have a legal claim on these pledged assets, making it a less risky investment compared to an unsecured NCD.
Unsecured
An unsecured NCD is a type of non-convertible debenture that is not backed by any company assets as collateral. Instead, its security relies solely on the issuing company’s creditworthiness and financial health. Because they are riskier, unsecured NCDs typically offer higher interest rates to compensate investors.
Our Focus In NCDS
Why Invest In NCDS?
Fixed Returns
NCDs offer a predetermined interest rate, providing investors with a stable and predictable income stream. This makes them attractive to conservative, income-focused investors.
Tradable
Listed NCDs can be bought and sold on stock exchanges like the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This offers liquidity, allowing investors to exit before maturity.
Longer Tenure
NCDs typically have a longer tenure than traditional fixed deposits (FDs), often ranging from 2 to 10 years.
No Collateral
NCDs are generally unsecured, meaning they are not backed by any specific collateral, and repayment depends on the issuing company's financial health.