Finkurve Financial Services Limited (NSE:FINKURVE) filed a disclosure on 13 August 2026 under Regulation 52(7) of SEBI (LODR) Regulations 2015, confirming that proceeds of Rs. 199 crore raised through Non-Convertible Debentures have been deployed without deviation from their stated objects for the quarter ended June 30, 2026.
Key Highlights
- Finkurve Financial Services raised Rs. 199 crore via Non-Convertible Debentures across three allotment dates: May 14, June 16, and June 29, 2026.
- The company confirmed no deviation or variation in the use of NCD proceeds for the quarter ended June 30, 2026, as per Regulation 52(7) and 52(7A) of SEBI (LODR) Regulations 2015.
- All funds raised were allocated and utilised toward the lending business of the company, with original allocation of Rs. 135 crore and funds utilised recorded at Rs. 199 crore.
- The Audit Committee reviewed and noted the utilisation statement at its meeting held on August 13, 2026, with no adverse comments from auditors.
About the Company
Finkurve Financial Services Limited (NSE:FINKURVE, BSE: 508954) is a non-banking financial company headquartered in India, engaged in lending and financial services. The company operates in the NBFC segment, providing credit facilities, and has been active in raising funds through debt instruments, including Non-Convertible Debentures, to support its lending book growth.
Announcement in Detail
In its filing to both BSE and NSE dated August 13, 2026, Finkurve Financial Services submitted the mandatory Regulation 52(7) statement covering Non-Convertible Debenture proceeds for the quarter ended June 30, 2026. The company raised Rs. 199 crore through three separate NCD allotments on May 14, 2026, June 16, 2026, and June 29, 2026, with the stated purpose being the lending business of the company.
Against an original allocation of Rs. 135 crore, the company reported total funds utilised at Rs. 199 crore for the same quarter. The filing explicitly states there is no deviation or variation in the use of proceeds. No monitoring agency was appointed, which is permissible under applicable SEBI regulations for certain categories of debt issuances. The Audit Committee reviewed the statement on August 13, 2026, with no adverse remarks recorded from auditors or the committee.
Impact on Investors
The filing shows that the full amount of Rs. 199 crore raised through NCDs has been deployed toward the company's lending operations, consistent with the disclosed objects of the issue. Investors will note that the utilised amount of Rs. 199 crore exceeds the originally disclosed allocation of Rs. 135 crore, though the company has reported this without flagging any deviation, indicating the additional deployment remained within the same stated object of the lending business.
Shareholders and debenture holders will observe that the Audit Committee has reviewed the statement with no adverse comments, which reflects compliance with SEBI's periodic disclosure framework. The disclosed terms indicate that no shareholder approval for any variation was required, as no deviation was reported by the company in this filing.
Sector / Market Context
India's NBFC sector has seen increased regulatory oversight from SEBI and the Reserve Bank of India in recent years, with stricter disclosure norms applied to debt-raising activities. The SEBI Master Circular dated May 21, 2024, which governs Regulation 52(7) and 52(7A) filings, mandates quarterly reporting of NCD proceeds utilisation to enhance transparency for debenture holders and the broader investor community. NBFCs that raise funds via listed debt instruments are required to submit these utilisation statements each quarter, irrespective of whether a monitoring agency has been appointed, reinforcing accountability in the use of public funds raised through capital markets.