SMC Global Securities Limited has come up with a new public issue of secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) in October 2025. The company aims to raise funds to meet its working capital requirements and general corporate purposes. The NCDs offer attractive coupon rates ranging from 9.75% to 10.25% depending on the tenure and payment frequency. Let us deep dive into the issue details, company background, interest rates, credit rating, and whether you should invest in these NCDs.
About SMC Global Securities Limited
SMC Global Securities Limited, incorporated in 1994, is a Delhi-based diversified financial services company. It is the flagship company of the SMC Group, which operates in areas such as securities broking, insurance broking, wealth management, investment banking, distribution of financial products, real estate advisory, and NBFC lending services through its subsidiaries.
The group has a strong presence across 424 cities in India and Dubai, with over 2,100 franchisees and an active client base of around 2 lakh customers. The company is known for its integrated presence across capital market and lending-related businesses.
SMC Global Securities NCD October 2025 – Issue Details
- Issuer: SMC Global Securities Limited
- Type of Issue: Public issue of secured, rated, listed, redeemable NCDs
- NCD Issue Opens on 17-Oct-2025 and closes on 27-Nov-2025. (as per prospectus it shows 27-Oct as open date and 10-Nov-25 as closing date, but it is now preponed to above dates)
- Face Value: ₹. 1,000 per NCD
- Base Issue Size: ₹. 7,500 Lakh
- Green Shoe Option: ₹. 7,500 Lakh
- Total Issue Size: ₹. 15,000 Lakh
- Minimum Application: 10 NCDs (₹. 10,000) and in multiples of 1 NCD thereafter
- Mode of Issue: In dematerialized form
- Listing: Proposed on BSE and NSE
- Lead Manager: Corporate Professionals Capital Private Limited
- Debenture Trustee: IDBI Trusteeship Services Limited
- Registrar: MUFG Intime India Private Limited
Interest Rates and Tenure Options
The issue offers six series with different tenures and interest payment frequencies:
| Series | Tenure | Interest Payment | Coupon Rate (p.a.) | Effective Yield | Maturity Amount |
|---|---|---|---|---|---|
| I | 24 months | Annual | 9.75% | 9.75% | 1,000 |
| II | 24 months | Cumulative | – | 9.75% | 1,204.5 |
| III | 36 months | Annual | 10.00% | 10.00% | 1,000 |
| IV | 36 months | Cumulative | – | 10.00% | 1,331 |
| V | 60 months | Monthly | 9.80% | 10.25% | 1,000 |
| VI | 60 months | Annual | 10.25% | 10.25% | 1,000 |
Credit Ratings
The NCDs are rated [ICRA] A (Stable) by ICRA. Instruments with this rating indicate an adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk. However, it is one notch below the highest safety rating.
Objects of the Issue
The net proceeds of the NCD issue will be utilized for the following purposes:
- To meet working capital requirements of the company.
- For general corporate purposes.
Company Financials
Here are the key consolidated financials of SMC Global Securities Limited:
| Particulars | FY2024 | FY2025 |
|---|---|---|
| Net Operating Income | ₹. 649 Cr | ₹. 696 Cr |
| Profit After Tax | ₹. 188 Cr | ₹. 147 Cr |
| Net Worth | ₹. 1,098 Cr | ₹. 1,220 Cr |
| Total Assets | ₹. 4,748 Cr | ₹. 4,921 Cr |
| Return on Net Worth | 18.5% | 12.7% |
The company’s profitability has moderated in FY2025 due to reduced trading activity and higher expenses. However, its balance sheet remains strong with adequate capitalisation and moderate leverage.
Why to Invest in SMC Global Securities NCD
- Attractive Interest Rates: The NCD offers up to 10.25% yield, which is higher than most bank FDs.
- Secured NCDs: Being secured instruments, investors are backed by charge on company assets.
- Diverse Tenure Options: Investors can choose from 2-year, 3-year, and 5-year options with cumulative or periodic interest payment modes.
- Reputed Credit Rating: Rated [ICRA] A (Stable), indicating adequate safety.
- Established Financial Services Brand: SMC has over two decades of experience in the Indian financial market.
Why Not to Invest in SMC Global Securities NCD
- Moderate Rating: The rating of A (Stable) is lower than AAA-rated NCDs, indicating moderate credit risk.
- Market-Dependent Business: The company’s performance is linked to capital market volatility.
- Declining Profit Margins: Profitability has declined in FY2025 compared to FY2024.
- No Liquidity Guarantee: Though listed, liquidity in NCDs post-allotment may be low on exchanges.
- Investors can check complete risk factors indicated in SMC Global NCD Prospectus of Oct-2025.
How to Apply for SMC Global Securities NCD October 2025
Investors can apply for these NCDs through:
- Online through BSE/NSE Platforms: Using BSE Direct (https://www.bsedirect.co) or NSE goBID (https://eipo.nseindia.com).
- Through Demat Account: Via brokers or net banking under ‘NCD/Bond’ section.
- Minimum Investment: 10 NCDs (₹. 10,000).
- In Multiples: Multiples of 1 NCD thereafter.
Explore about Indel Money NCD issue of Oct-25 offers 11.25% Interest
Conclusion – Should You Invest?
SMC Global Securities NCD October 2025 issue offers attractive returns up to 10.25% per annum with flexible tenure and secured structure. However, investors must note that the rating is only A (Stable), not AAA, and the company’s business is dependent on capital market cycles. Therefore, these NCDs are suitable for moderate-risk investors seeking better-than-FD returns and willing to hold till maturity.
My View: Investors can consider investing a small portion of their fixed-income portfolio in these NCDs for medium-term income, but avoid overexposure.
FAQs
1. What is the interest rate offered in SMC Global Securities NCD October 2025?
The NCDs offer interest rates between 9.75% and 10.25% depending on the tenure and payment frequency.
2. What is the minimum investment required?
The minimum application is for 10 NCDs amounting to ₹. 10,000.
3. What is the credit rating of these NCDs?
The issue is rated [ICRA] A (Stable), indicating adequate safety and low credit risk.
4. Are these NCDs secured?
Yes, the NCDs are secured by assets of the company.
5. How can I apply for these NCDs?
You can apply online through BSE Direct or NSE goBID platform or via your broker.
6. What are the issue dates and listing plans?
The NCDs will be listed on both BSE and NSE within six working days of the issue closure.
7. Should I invest in these NCDs?
If you are looking for stable returns with moderate risk, this NCD can be considered. Conservative investors may prefer AAA-rated options.
- SMC Global Securities NCD October 2025 – Issue Details and Review - October 15, 2025
- 12.68% Chemmanur Credits and Investments NCD October 2025 – Issue Details and Review - October 15, 2025
- 7 Mutual Funds That Attracted Over ₹ 1,500 Crore Inflows in September 2025 - October 14, 2025