{"id":16487,"date":"2026-10-05T12:34:26","date_gmt":"2026-10-05T07:04:26","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=16487"},"modified":"2026-10-23T13:17:17","modified_gmt":"2026-10-23T07:47:17","slug":"smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/","title":{"rendered":"SMC Global, Securities NCD Issue 2026: 10% Yield, Rating, Details, and How to Invest"},"content":{"rendered":"\n<!--\n  ============================================================================\n  WORDPRESS CUSTOM HTML EMBED \u2014 NCD IPO \"Above The Fold\" Widget (REUSABLE)\n  ============================================================================\n  Paste everything below this comment into a \"Custom HTML\" block on each\n  NCD blog post. Do NOT add <!DOCTYPE>, <html>, <head>, <title>, or <body>\n  tags \u2014 WordPress already provides those, and adding them again creates\n  duplicate\/nested tags that hurt on-page SEO.\n\n  Only one <h1> per page (your WordPress post title) \u2014 this widget uses\n  <h2><span class=\"ez-toc-section\" id=\"_throughout_so_its_safe_to_drop_into_any_blog_post_as-is_TO_REUSE_THIS_FOR_A_NEW_NCD_ISSUE_Scroll_down_to_the_block_marked_%22EDIT_THIS_SECTION_FOR_EACH_NEW_NCD_BLOG%22_inside_the_tag_near_the_bottom_Change_only_the_values_inside_that_one_JavaScript_object_issuer_name_dates_rates_allocation_links_Everything_else_%E2%80%94_layout_styling_the_returns_calculator_the_rating_meter_the_disclaimer_%E2%80%94_rebuilds_itself_automatically_from_those_values_-%3E_NCD_IPO_Secured_%E2%80%94_%E2%80%94_Issuer_Name\"><\/span>\/<h3> throughout, so it's safe to drop into any blog post as-is.\n\n  TO REUSE THIS FOR A NEW NCD ISSUE:\n  Scroll down to the block marked \"EDIT THIS SECTION FOR EACH NEW NCD BLOG\"\n  inside the <script> tag near the bottom. Change only the values inside\n  that one JavaScript object (issuer name, dates, rates, allocation, links).\n  Everything else \u2014 layout, styling, the returns calculator, the rating\n  meter, the disclaimer \u2014 rebuilds itself automatically from those values.\n  ============================================================================\n-->\n<link rel=\"preconnect\" href=\"https:\/\/fonts.googleapis.com\">\n<link rel=\"preconnect\" href=\"https:\/\/fonts.gstatic.com\" crossorigin>\n<link href=\"https:\/\/fonts.googleapis.com\/css2?family=Inter:wght@400;500;600;700;800&#038;display=swap\" rel=\"stylesheet\">\n<style>\n  :root{\n    --gp-primary:#FF6B00;\n    --gp-primary-dark:#E05D00;\n    --gp-navy:#121826;\n    --gp-navy-2:#1A2238;\n    --gp-card:#FFFFFF;\n    --gp-text:#1E293B;\n    --gp-muted:#64748B;\n    --gp-border:#E2E8F0;\n    --gp-bg:#F8FAFC;\n    --gp-success:#10B981;\n    --gp-radius:16px;\n    --gp-radius-sm:10px;\n    --gp-shadow:0 10px 25px -5px rgba(0,0,0,.05),0 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4px;font-size:.72rem;font-weight:700;color:var(--gp-text);cursor:pointer;transition:all .15s ease;}\n  #gp-ncd .gp-amount-presets button.active{border-color:var(--gp-primary);background:var(--gp-primary);color:#fff;}\n  #gp-ncd .gp-calc-output{display:flex;justify-content:space-between;align-items:center;background:var(--gp-bg);border:1px solid var(--gp-border);border-radius:var(--gp-radius-sm);padding:14px 16px;}\n  #gp-ncd .gp-calc-block{text-align:left;}\n  #gp-ncd .gp-calc-lbl{font-size:.66rem;color:var(--gp-muted);font-weight:600;letter-spacing:.02em;text-transform:uppercase;}\n  #gp-ncd .gp-calc-val{font-size:1.1rem;font-weight:800;color:var(--gp-text);margin-top:3px;}\n  #gp-ncd .gp-calc-val.gp-accent{color:var(--gp-success);}\n  #gp-ncd .gp-calc-sub{font-size:.68rem;color:var(--gp-muted);margin-top:1px;}\n  #gp-ncd .gp-calc-arrow{color:var(--gp-muted);font-size:1.1rem;}\n\n  \/* Issue details *\/\n  #gp-ncd .gp-detail-grid{display:grid;grid-template-columns:repeat(2,1fr);gap:14px 18px;}\n  @media (min-width:640px){#gp-ncd .gp-detail-grid{grid-template-columns:repeat(4,1fr);}}\n  #gp-ncd .gp-detail-lbl{font-size:.68rem;color:var(--gp-muted);font-weight:600;margin-bottom:3px;}\n  #gp-ncd .gp-detail-val{font-size:.88rem;font-weight:700;color:var(--gp-text);}\n  #gp-ncd .gp-detail-val a{color:var(--gp-primary-dark);text-decoration:none;}\n\n  \/* Compact allocation \u2014 single horizontal row, bar + inline legend *\/\n  #gp-ncd .gp-alloc-row{display:flex;align-items:center;gap:14px;flex-wrap:wrap;}\n  #gp-ncd .gp-bucket{display:flex;height:10px;border-radius:6px;overflow:hidden;flex:1 1 160px;min-width:140px;}\n  #gp-ncd .gp-bucket div{height:100%;}\n  #gp-ncd .gp-alloc-legend{display:flex;flex-wrap:wrap;gap:10px 16px;}\n  #gp-ncd .gp-bl-item{display:flex;align-items:center;gap:5px;font-size:.76rem;white-space:nowrap;}\n  #gp-ncd .gp-bl-dot{width:7px;height:7px;border-radius:50%;flex-shrink:0;}\n  #gp-ncd .gp-bl-name{color:var(--gp-muted);font-weight:600;}\n  #gp-ncd .gp-bl-amt{color:var(--gp-text);font-weight:700;}\n\n  #gp-ncd .gp-cta{display:block;text-align:center;background:var(--gp-primary);color:#fff;font-weight:700;font-size:.92rem;padding:14px;border-radius:var(--gp-radius-sm);text-decoration:none;transition:background .15s ease;}\n  #gp-ncd .gp-cta:hover{background:var(--gp-primary-dark);}\n\n  #gp-ncd .gp-disclaimer{font-size:.68rem;color:var(--gp-muted);line-height:1.55;margin-top:14px;}\n  #gp-ncd .gp-disclaimer b{color:var(--gp-text);}\n<\/style>\n\n<div id=\"gp-ncd\">\n<div class=\"gp-wrap\">\n\n  <!-- SECTION 1: Issuer + Tags + Yield\/Tenure\/Payout stats (one section) -->\n  <div class=\"gp-header\">\n    <div class=\"gp-header-top\">\n      <div>\n        <div class=\"gp-chip-row\">\n          <span class=\"gp-chip gp-chip-ipo\" id=\"ncdIpoChip\">NCD IPO<\/span>\n          <span class=\"gp-chip gp-chip-secured\" id=\"ncdTypeChip\">Secured<\/span>\n          <span class=\"gp-chip gp-chip-rating\" id=\"ncdRatingChip1\">\u2014<\/span>\n          <span class=\"gp-chip gp-chip-rating\" id=\"ncdRatingChip2\">\u2014<\/span>\n        <\/div>\n        <h2 id=\"ncdIssuerName\">Issuer Name<span class=\"ez-toc-section-end\"><\/span><\/h2>\n      <\/div>\n      <div class=\"gp-badge\"><span class=\"gp-dot\"><\/span>SEBI-registered platform<\/div>\n    <\/div>\n\n    <div class=\"gp-stats-row\">\n      <div class=\"gp-stat-item\">\n        <div class=\"gp-stat-lbl\">Yield range<\/div>\n        <div class=\"gp-stat-val\" id=\"statYieldRange\">\u2014<\/div>\n      <\/div>\n      <div class=\"gp-stat-item\">\n        <div class=\"gp-stat-lbl\">Tenure options<\/div>\n        <div class=\"gp-stat-val\" id=\"statTenureRange\">\u2014<\/div>\n      <\/div>\n      <div class=\"gp-stat-item\">\n        <div class=\"gp-stat-lbl\">Interest payout<\/div>\n        <div class=\"gp-stat-val\" id=\"statPayoutTypes\">\u2014<\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  <!-- SECTION 2: Credit Rating Meter | Calculate Returns -->\n  <div class=\"gp-two-col\">\n    <div class=\"gp-card\">\n      <h3>Credit rating<\/h3>\n      <div class=\"gp-meter-wrap\">\n        <svg width=\"160\" height=\"90\" viewBox=\"0 0 160 90\">\n          <path d=\"M 14 84 A 66 66 0 0 1 146 84\" fill=\"none\" stroke=\"#E2E8F0\" stroke-width=\"14\" stroke-linecap=\"round\"\/>\n          <path id=\"meterArc\" d=\"M 14 84 A 66 66 0 0 1 146 84\" fill=\"none\" stroke=\"#10B981\" stroke-width=\"14\" stroke-linecap=\"round\"\/>\n        <\/svg>\n        <div class=\"gp-meter-letter\" id=\"meterLetter\">\u2014<\/div>\n        <div class=\"gp-meter-agency\" id=\"meterAgency\">\u2014<\/div>\n        <div class=\"gp-meter-outlook\" id=\"meterOutlook\">\u2014<\/div>\n        <div class=\"gp-meter-secondary\" id=\"meterSecondary\" style=\"display:none;\"><\/div>\n      <\/div>\n    <\/div>\n\n    <div class=\"gp-card\">\n      <h3>Calculate returns<\/h3>\n      <div class=\"gp-seg-row gp-tenure-row\" id=\"calcTenureRow\"><\/div>\n      <div class=\"gp-amount-presets\" id=\"calcPresets\"><\/div>\n      <div class=\"gp-calc-output\">\n        <div class=\"gp-calc-block\">\n          <div class=\"gp-calc-lbl\">You invest<\/div>\n          <div class=\"gp-calc-val\" id=\"outInvest\">\u20b90<\/div>\n          <div class=\"gp-calc-sub\" id=\"outUnits\">0 units<\/div>\n        <\/div>\n        <div class=\"gp-calc-arrow\">\u2192<\/div>\n        <div class=\"gp-calc-block\" style=\"text-align:right;\">\n          <div class=\"gp-calc-lbl\">You get<\/div>\n          <div class=\"gp-calc-val gp-accent\" id=\"outGet\">\u20b90<\/div>\n          <div class=\"gp-calc-sub\" id=\"outInterest\">+\u20b90 interest<\/div>\n        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  <!-- SECTION 3: Issue details -->\n  <div class=\"gp-card\">\n    <h3>Issue details<\/h3>\n    <div class=\"gp-detail-grid\">\n      <div><div class=\"gp-detail-lbl\">Issue opens<\/div><div class=\"gp-detail-val\" id=\"detOpen\">\u2014<\/div><\/div>\n      <div><div class=\"gp-detail-lbl\">Issue closes<\/div><div class=\"gp-detail-val\" id=\"detClose\">\u2014<\/div><\/div>\n      <div><div class=\"gp-detail-lbl\">Face value<\/div><div class=\"gp-detail-val\" id=\"detFaceValue\">\u2014<\/div><\/div>\n      <div><div class=\"gp-detail-lbl\">Minimum investment<\/div><div class=\"gp-detail-val\" id=\"detMinInvest\">\u2014<\/div><\/div>\n      <div><div class=\"gp-detail-lbl\">Issue size<\/div><div class=\"gp-detail-val\" id=\"detIssueSize\">\u2014<\/div><\/div>\n      <div><div class=\"gp-detail-lbl\">Instrument type<\/div><div class=\"gp-detail-val\" id=\"detInstrumentType\">\u2014<\/div><\/div>\n      <div><div class=\"gp-detail-lbl\">Listed on<\/div><div class=\"gp-detail-val\" id=\"detExchange\">\u2014<\/div><\/div>\n      <div><div class=\"gp-detail-lbl\">Issue document<\/div><div class=\"gp-detail-val\"><a href=\"#\" id=\"detProspectusLink\" target=\"_blank\" rel=\"noopener\">Prospectus \u2197<\/a><\/div><\/div>\n    <\/div>\n  <\/div>\n\n  <!-- SECTION 4: Compact allocation -->\n  <div class=\"gp-card\">\n    <h3>Allocation by investor category<\/h3>\n    <div class=\"gp-alloc-row\">\n      <div class=\"gp-bucket\" id=\"allocBucket\"><\/div>\n      <div class=\"gp-alloc-legend\" id=\"allocLegend\"><\/div>\n    <\/div>\n  <\/div>\n\n  <!-- SECTION 5: CTA -->\n  <a href=\"#\" class=\"gp-cta\" id=\"ctaApplyLink\" target=\"_blank\" rel=\"noopener\">Apply on GoldenPi \u2192<\/a>\n\n  <div class=\"gp-disclaimer\">\n    <b>Disclosure:<\/b> For general information only, not investment advice. NCDs are fixed income instruments and are <b>not guaranteed<\/b> \u2014 they carry market, credit, liquidity, and default risk, and are not DICGC-insured. Credit ratings are opinions, not a guarantee of repayment. The returns shown above are indicative estimates, not guaranteed. Please read the full prospectus and assess your own risk \u2014 or consult a SEBI-registered investment advisor \u2014 before investing. [Company legal name] is registered with SEBI as an Online Bond Platform Provider, Reg. No. <b>[insert SEBI registration number]<\/b>.\n  <\/div>\n\n<\/div>\n<\/div>\n\n<script>\n(function(){\n  \/* ==========================================================================\n     EDIT THIS SECTION FOR EACH NEW NCD BLOG\n     Change only the values below. Everything else renders automatically.\n     ========================================================================== *\/\n  var NCD = {\n    issuer: \"SMC Global Securities Limited\",\n    instrumentType: \"Secured, Rated, Listed, Redeemable NCD\",\n    exchange: \"BSE\",\n    ratings: [\n      { agency: \"ICRA\", letter: \"A\", outlook: \"Stable\" }\n    ],\n    issueOpen: \"Mon, 5 Oct 2026\",\n    issueClose: \"Fri, 16 Oct 2026\",\n    faceValue: \"\u20b91,000 \/ unit\",\n    minInvestment: 10000,\n    minInvestmentDisplay: \"\u20b910,000 (10 NCDs)\",\n    issueSizeDisplay: \"Up to \u20b9150 Cr (Base \u20b975 Cr + Oversubscription Retention \u20b975 Cr)\",\n    prospectusUrl: \"#\", \/\/ replace with the actual prospectus \/ offer document link\n\n    \/\/ One row per tenure (months). All rates are % per annum (effective yield).\n    \/\/ \"cumulative\" is used to drive the \"Calculate returns\" box.\n    rates: [\n      { tenureMonths: 24, monthly: 9.50, annual: 9.50, cumulative: 9.50 },\n      { tenureMonths: 36, monthly: 9.75, annual: 9.75, cumulative: 9.75 },\n      { tenureMonths: 60, monthly: 9.57, annual: 10.00, cumulative: 10.00 }\n    ],\n\n    allocation: [\n      { label: \"Retail\", pct: 40, color: \"#FF6B00\" },\n      { label: \"HNI\", pct: 40, color: \"#1A2238\" },\n      { label: \"Non-Institutional\", pct: 10, color: \"#3B82F6\" },\n      { label: \"Institutional (QIB)\", pct: 10, color: \"#10B981\" }\n    ],\n\n    ctaUrl: \"https:\/\/goldenpi.com\/bond-ipo-online?utm_source=blog&utm_medium=banner&utm_campaign=SEO_Organic&utm_id=1&utm_term=blog_SEO\"\n  };\n  \/* ========================================================================== *\/\n\n  function fmtINR(n){\n    n = Math.round(n || 0);\n    return '\u20b9' + n.toLocaleString('en-IN');\n  }\n\n  \/\/ ---- Header: tags + title ----\n  document.getElementById('ncdIssuerName').textContent = NCD.issuer;\n  document.getElementById('ncdTypeChip').textContent = NCD.instrumentType.split(' ')[0];\n  if (NCD.ratings[0]) document.getElementById('ncdRatingChip1').textContent = NCD.ratings[0].agency + ' ' + NCD.ratings[0].letter;\n  if (NCD.ratings[1]) document.getElementById('ncdRatingChip2').textContent = NCD.ratings[1].agency + ' ' + NCD.ratings[1].letter;\n\n  \/\/ ---- Header: stats row ----\n  var allYields = NCD.rates.map(function(r){ return Math.max(r.monthly, r.annual, r.cumulative); });\n  var minY = Math.min.apply(null, allYields), maxY = Math.max.apply(null, allYields);\n  document.getElementById('statYieldRange').textContent = minY.toFixed(2) + '% \u2013 ' + maxY.toFixed(2) + '%';\n  var tenures = NCD.rates.map(function(r){ return r.tenureMonths; });\n  document.getElementById('statTenureRange').textContent = Math.min.apply(null, tenures) + '\u2013' + Math.max.apply(null, tenures) + ' Months';\n  document.getElementById('statPayoutTypes').textContent = 'Monthly \/ Annual \/ Cumulative';\n\n  \/\/ ---- Credit rating meter ----\n  \/\/ Approximate scale (lowest to highest) used only to size the gauge arc.\n  var RATING_SCALE = ['D','C','B-','B','B+','BB-','BB','BB+','BBB-','BBB','BBB+','A-','A','A+','AA-','AA','AA+','AAA'];\n  function ratingPct(letter){\n    var idx = RATING_SCALE.indexOf(letter);\n    if (idx === -1) return 70; \/\/ fallback mid-scale if an unrecognised notch is used\n    return (idx \/ (RATING_SCALE.length - 1)) * 100;\n  }\n  var primary = NCD.ratings[0] || { agency: '\u2014', letter: '\u2014', outlook: '\u2014' };\n  document.getElementById('meterLetter').textContent = primary.letter;\n  document.getElementById('meterAgency').textContent = primary.agency;\n  document.getElementById('meterOutlook').textContent = primary.outlook + ' Outlook';\n\n  var arcPct = ratingPct(primary.letter) \/ 100;\n  var arcLen = Math.PI * 66; \/\/ semicircle length for r=66\n  var arc = document.getElementById('meterArc');\n  arc.setAttribute('stroke-dasharray', (arcLen * arcPct) + ' ' + arcLen);\n  arc.setAttribute('stroke', arcPct >= 0.75 ? '#10B981' : (arcPct >= 0.5 ? '#F59E0B' : '#EF4444'));\n\n  if (NCD.ratings[1]){\n    var sec = document.getElementById('meterSecondary');\n    sec.style.display = 'block';\n    sec.innerHTML = 'Also rated <b>' + NCD.ratings[1].letter + '<\/b> by ' + NCD.ratings[1].agency + ' (' + NCD.ratings[1].outlook + ')';\n  }\n\n  \/\/ ---- Issue details ----\n  document.getElementById('detOpen').textContent = NCD.issueOpen;\n  document.getElementById('detClose').textContent = NCD.issueClose;\n  document.getElementById('detFaceValue').textContent = NCD.faceValue;\n  document.getElementById('detMinInvest').textContent = NCD.minInvestmentDisplay;\n  document.getElementById('detIssueSize').textContent = NCD.issueSizeDisplay;\n  document.getElementById('detInstrumentType').textContent = NCD.instrumentType;\n  document.getElementById('detExchange').textContent = NCD.exchange;\n  document.getElementById('detProspectusLink').href = NCD.prospectusUrl;\n  document.getElementById('ctaApplyLink').href = NCD.ctaUrl;\n  document.getElementById('ctaApplyLink').textContent = 'Apply for ' + NCD.issuer.split(' ')[0] + ' NCD \u2192';\n\n  \/\/ ---- Compact allocation ----\n  var bucket = document.getElementById('allocBucket');\n  var legend = document.getElementById('allocLegend');\n  NCD.allocation.forEach(function(a){\n    var seg = document.createElement('div');\n    seg.style.background = a.color;\n    seg.style.width = a.pct + '%';\n    bucket.appendChild(seg);\n\n    var li = document.createElement('div');\n    li.className = 'gp-bl-item';\n    li.innerHTML = '<span class=\"gp-bl-dot\" style=\"background:' + a.color + ';\"><\/span>' +\n      '<span class=\"gp-bl-name\">' + a.label + '<\/span><span class=\"gp-bl-amt\">' + a.pct + '%<\/span>';\n    legend.appendChild(li);\n  });\n\n  \/\/ ---- Calculate returns (compact, cumulative basis, Groww-style invest\u2192get) ----\n  var selectedTenureIdx = NCD.rates.length - 1; \/\/ default to longest tenure, like Groww's example\n  var tenureRow = document.getElementById('calcTenureRow');\n  NCD.rates.forEach(function(r, i){\n    var btn = document.createElement('div');\n    btn.className = 'gp-seg-btn' + (i === selectedTenureIdx ? ' active' : '');\n    btn.textContent = r.tenureMonths + 'M';\n    btn.addEventListener('click', function(){\n      tenureRow.querySelectorAll('.gp-seg-btn').forEach(function(b){ b.classList.remove('active'); });\n      btn.classList.add('active');\n      selectedTenureIdx = i;\n      runCalc();\n    });\n    tenureRow.appendChild(btn);\n  });\n\n  var presetsWrap = document.getElementById('calcPresets');\n  var presetAmounts = [10000, 25000, 50000, 100000];\n  var currentAmount = NCD.minInvestment;\n  presetAmounts.forEach(function(amt, i){\n    var b = document.createElement('button');\n    b.type = 'button';\n    if (amt === currentAmount) b.classList.add('active');\n    b.textContent = amt >= 100000 ? '\u20b9' + (amt\/100000) + 'L' : '\u20b9' + (amt\/1000) + 'K';\n    b.addEventListener('click', function(){\n      presetsWrap.querySelectorAll('button').forEach(function(x){ x.classList.remove('active'); });\n      b.classList.add('active');\n      currentAmount = amt;\n      runCalc();\n    });\n    presetsWrap.appendChild(b);\n  });\n\n  var faceValueNum = parseInt((NCD.faceValue.match(\/[\\d,]+\/) || ['1000'])[0].replace(\/,\/g,''), 10) || 1000;\n\n  function runCalc(){\n    var row = NCD.rates[selectedTenureIdx];\n    var years = row.tenureMonths \/ 12;\n    var maturity = currentAmount * Math.pow(1 + row.cumulative\/100, years);\n    var interest = maturity - currentAmount;\n    var units = Math.floor(currentAmount \/ faceValueNum);\n\n    document.getElementById('outInvest').textContent = fmtINR(currentAmount);\n    document.getElementById('outUnits').textContent = units + ' unit' + (units === 1 ? '' : 's');\n    document.getElementById('outGet').textContent = fmtINR(maturity);\n    document.getElementById('outInterest').textContent = 'Interest +' + fmtINR(interest);\n  }\n\n  runCalc();\n})();\n<\/script>\n\n\n<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">\ud83d\udcdd Quick Summary:<\/div>\n<h2 class=\"gpi-custom-widget-h2-content\"><span class=\"ez-toc-section\" id=\"SMC_Global_Securities_Limited_is_launching_a_secured_NCD_public_issue_aggregating_up_to_%E2%82%B9150_crore_comprising_a_base_issue_size_of_%E2%82%B975_crore_and_an_option_to_retain_oversubscription_of_up_to_%E2%82%B975_crore_Rated_ICRAA_Stable_the_issue_offers_6_series_across_tenures_of_24_36_and_60_months_with_effective_yields_ranging_from_950_to_1000_pa\"><\/span>SMC Global Securities Limited is launching a secured NCD public issue aggregating up to \u20b9150 crore, comprising a base issue size of \u20b975 crore and an option to retain oversubscription of up to \u20b975 crore. Rated <strong>[ICRA]A (Stable)<\/strong>, the issue offers <strong>6 series<\/strong> across tenures of <strong>24, 36, and 60 months<\/strong>, with effective yields ranging from <strong>9.50% to 10.00% p.a.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n\n\n<p>The subscription opens on <strong>October 5, 2026,<\/strong> and closes on <strong>October 16, 2026<\/strong>*. Allotments are on a <strong>First-Come, First-Served (FCFS)<\/strong> basis, subject to the issue terms. The NCDs are proposed to be listed on <strong>BSE Limited<\/strong>, which has granted in-principle approval.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#_throughout_so_its_safe_to_drop_into_any_blog_post_as-is_TO_REUSE_THIS_FOR_A_NEW_NCD_ISSUE_Scroll_down_to_the_block_marked_%22EDIT_THIS_SECTION_FOR_EACH_NEW_NCD_BLOG%22_inside_the_tag_near_the_bottom_Change_only_the_values_inside_that_one_JavaScript_object_issuer_name_dates_rates_allocation_links_Everything_else_%E2%80%94_layout_styling_the_returns_calculator_the_rating_meter_the_disclaimer_%E2%80%94_rebuilds_itself_automatically_from_those_values_-%3E_NCD_IPO_Secured_%E2%80%94_%E2%80%94_Issuer_Name\" >\/ throughout, so it's safe to drop into any blog post as-is.\n\n  TO REUSE THIS FOR A NEW NCD ISSUE:\n  Scroll down to the block marked \"EDIT THIS SECTION FOR EACH NEW NCD BLOG\"\n  inside the  tag near the bottom. Change only the values inside\n  that one JavaScript object (issuer name, dates, rates, allocation, links).\n  Everything else \u2014 layout, styling, the returns calculator, the rating\n  meter, the disclaimer \u2014 rebuilds itself automatically from those values.\n  ============================================================================\n-->\n\n\n\n\n\n\n\n\n  \n  \n    \n      \n        \n          NCD IPO\n          Secured\n          \u2014\n          \u2014\n        \n        Issuer Name<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#SMC_Global_Securities_Limited_is_launching_a_secured_NCD_public_issue_aggregating_up_to_%E2%82%B9150_crore_comprising_a_base_issue_size_of_%E2%82%B975_crore_and_an_option_to_retain_oversubscription_of_up_to_%E2%82%B975_crore_Rated_ICRAA_Stable_the_issue_offers_6_series_across_tenures_of_24_36_and_60_months_with_effective_yields_ranging_from_950_to_1000_pa\" >SMC Global Securities Limited is launching a secured NCD public issue aggregating up to \u20b9150 crore, comprising a base issue size of \u20b975 crore and an option to retain oversubscription of up to \u20b975 crore. Rated [ICRA]A (Stable), the issue offers 6 series across tenures of 24, 36, and 60 months, with effective yields ranging from 9.50% to 10.00% p.a.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#SMC_Global_Securities_NCD_Issue_Overview\" >SMC Global Securities NCD: Issue Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#SMC_Global_Securities_NCD_%E2%80%93_Key_Issue_Details\" >SMC Global Securities NCD \u2013 Key Issue Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#SMC_Global_Securities_NCD_Coupon_Rates_and_Effective_Yield\" >SMC Global Securities NCD Coupon Rates and Effective Yield<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#NCD_Coupon_Rates_Yields_Redemption_Details\" >NCD Coupon Rates, Yields &amp; Redemption Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#Allocation_Ratio\" >Allocation Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#Investor_Category_Allocation\" >Investor Category Allocation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#How_to_Invest_in_SMC_Global_Securities_NCD_IPO_via_GoldenPi\" >How to Invest in SMC Global Securities NCD IPO via GoldenPi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#Financial_Overview_of_SMC_Global_Securities_Limited\" >Financial Overview of SMC Global Securities Limited<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#Cash_Flow_Summary_in_%E2%82%B9_Crore\" >Cash Flow Summary (in \u20b9 Crore)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#Cash_Flow_Summary_in_%E2%82%B9_Crore-2\" >Cash Flow Summary (in \u20b9 Crore)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#SMC_Global_Securities_NCD_Key_Points\" >SMC Global Securities NCD: Key Points<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#SMC_Global_Securities_NCD_Risks_to_Consider\" >SMC Global Securities NCD: Risks to Consider<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#About_SMC_Global_Securities_Limited\" >About SMC Global Securities Limited<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/#Disclaimer\" >Disclaimer<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SMC_Global_Securities_NCD_Issue_Overview\"><\/span><strong>SMC Global Securities NCD: Issue Overview<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Credit Rating:<\/strong> [ICRA]A (Stable) by ICRA Limited<\/li>\n\n\n\n<li><strong>Effective Yield Range:<\/strong> 9.50% to 10.00% p.a.<\/li>\n\n\n\n<li><strong>Tenures:<\/strong> 24, 36 and 60 months<\/li>\n\n\n\n<li><strong>Nature:<\/strong> Secured, Rated, Listed, Redeemable, Non-Convertible Debentures<\/li>\n\n\n\n<li><strong>Minimum Investment:<\/strong> \u20b910,000 (10 NCDs)<\/li>\n\n\n\n<li><strong>Issue Opening Date:<\/strong> October 5, 2026<\/li>\n\n\n\n<li><strong>Issue Closing Date:<\/strong> October 16, 2026*<\/li>\n<\/ul>\n\n\n\t\t<div class=\"ad-container\" style=\"font-family:'Satoshi','Segoe UI',sans-serif;max-width:1100px;background-color:#ffffff;border-radius:24px;padding:36px 48px;box-shadow:0 4px 24px rgba(0,0,0,0.12);display:flex;align-items:center;justify-content:space-between;border:1px solid #f6f5f2;box-sizing:border-box;margin:20px auto;gap:20px;\">\n\n\t\t\t<div class=\"ad-content\" style=\"flex:1.3;padding-right:20px;text-align:left;\">\n\t\t\t\t<span style=\"background-color:#fdf8e6;color:#5c4100;font-size:14px;font-weight:700;padding:6px 16px;border-radius:20px;display:inline-block;margin-bottom:20px;letter-spacing:0.2px;line-height:16.5px;\">\n\t\t\t\t\tFixed Returns \u2022 Trusted Platform\t\t\t\t<\/span>\n\t\t\t\t<div class=\"ad-headline-div\" style=\"color:#4a3e2e;font-size:28px;font-weight:700;margin:0 0 10px;line-height:30px;letter-spacing:-0.5px;font-family:'Satoshi','Segoe UI',sans-serif;\">\n\t\t\t\t\tApply for <span style=\"color: #b08505\">SMC GLOBAL NCD IPO<\/span>\t\t\t\t<\/div>\n\t\t\t\t<p class=\"paragpimob\" style=\"color:#5c5348;font-size:14px;line-height:18px;margin:0 0 25px;font-weight:500;letter-spacing:0.05px;\">\n\t\t\t\t\tStart investing with just 10K &amp; grow your wealth with fixed-return bond opportunities.\t\t\t\t<\/p>\n\t\t\t\t<a href=\"https:\/\/goldenpi.com\/bond-ipo\/GPID104212\/smc-global-securities-limited?utm_source=blog&#038;utm_medium=banner&#038;utm_campaign=SEO_Organic&#038;utm_id=1&#038;utm_term=blog_SEO\" class=\"ad-btn\"\n\t\t\t\t\tstyle=\"display:inline-flex;align-items:center;justify-content:center;background:linear-gradient(to right,#f4d47c,#c0930a);color:#231f1a;font-weight:700;font-size:16px;text-decoration:none;padding:14px 44px;border-radius:30px;box-shadow:0 4px 12px rgba(192,147,10,0.15);transition:opacity 0.2s;\">\n\t\t\t\t\tExplore Now &nbsp; <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" height=\"24px\" viewBox=\"0 -960 960 960\" width=\"24px\" fill=\"#1f1f1f\"><path d=\"m256-240-56-56 384-384H240v-80h480v480h-80v-344L256-240Z\"\/><\/svg>\t\t\t\t<\/a>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"ad-right-section\" style=\"display:flex;flex-direction:column;gap:16px;min-width:200px;flex:0.7;align-items:center;\">\n\t\t\t\t<div class=\"ad-card\" style=\"background-color:#faf9f6;border-radius:16px;padding:18px 20px;display:flex;align-items:center;gap:20px;border:1px solid #fcfbfa;box-sizing:border-box;width:260px;justify-content:flex-start;flex-shrink:0;\">\n\t\t\t\t\t<div style=\"display:flex;align-items:center;justify-content:center;flex-shrink:0;\">\n\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/d2tfvseypdp8pf.cloudfront.net\/assets\/img\/home-hero-section\/coin-icon.png\" alt=\"\" style=\"width:36px;height:36px;object-fit:contain;\" \/>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div class=\"ad-card-text-wrapper\" style=\"text-align:left;\">\n\t\t\t\t\t\t<div class=\"ad-card-title\" style=\"font-size:22px;font-weight:700;color:#4a3e2e;line-height:1.2;\">10K<\/div>\n\t\t\t\t\t\t<div class=\"ad-card-sub\"   style=\"font-size:12px;color:#5c5348;margin-top:2px;font-weight:550;\">Min Investment<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"ad-card\" style=\"background-color:#faf9f6;border-radius:16px;padding:18px 20px;display:flex;align-items:center;gap:20px;border:1px solid #fcfbfa;box-sizing:border-box;width:260px;justify-content:flex-start;flex-shrink:0;\">\n\t\t\t\t\t<div style=\"display:flex;align-items:center;justify-content:center;flex-shrink:0;\">\n\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/d2tfvseypdp8pf.cloudfront.net\/assets\/img\/home-hero-section\/graph-icon.png\" alt=\"\" style=\"width:36px;height:36px;object-fit:contain;\" \/>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div class=\"ad-card-text-wrapper\" style=\"text-align:left;\">\n\t\t\t\t\t\t<div class=\"ad-card-title\" style=\"font-size:22px;font-weight:700;color:#4a3e2e;line-height:1.2;\">9.5 - 10%*<\/div>\n\t\t\t\t\t\t<div class=\"ad-card-sub\"   style=\"font-size:12px;color:#5c5348;margin-top:2px;font-weight:550;\">P.A Fixed Returns<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"ad-mobile-btn-wrapper\">\n\t\t\t\t<a href=\"https:\/\/goldenpi.com\/bond-ipo\/GPID104212\/smc-global-securities-limited?utm_source=blog&#038;utm_medium=banner&#038;utm_campaign=SEO_Organic&#038;utm_id=1&#038;utm_term=blog_SEO\" class=\"ad-btn\"\n\t\t\t\t\tstyle=\"display:inline-flex;align-items:center;justify-content:center;background:linear-gradient(to right,#f4d47c,#c0930a);color:#231f1a;font-weight:700;font-size:16px;text-decoration:none;padding:14px 44px;border-radius:30px;box-shadow:0 4px 12px rgba(192,147,10,0.15);transition:opacity 0.2s;\">\n\t\t\t\t\tExplore Now &nbsp; <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" height=\"24px\" viewBox=\"0 -960 960 960\" width=\"24px\" fill=\"#1f1f1f\"><path d=\"m256-240-56-56 384-384H240v-80h480v480h-80v-344L256-240Z\"\/><\/svg>\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\n\n\n\n<style>\n  .gp-ncd-table-wrap {\n    max-width: 950px;\n    margin: 32px auto;\n    background: #ffffff;\n    border: 1px solid #dce5f2;\n    border-radius: 14px;\n    overflow: hidden;\n    box-shadow: 0 6px 24px rgba(25, 56, 109, 0.08);\n    font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Arial, sans-serif;\n  }\n\n  .gp-ncd-table-header {\n    background: #19386d;\n    padding: 20px 24px;\n  }\n\n  .gp-ncd-table-header h2 {\n    margin: 0;\n    color: #ffffff;\n    font-size: 21px;\n    font-weight: 700;\n    line-height: 1.3;\n  }\n\n  .gp-ncd-table-header p {\n    margin: 5px 0 0;\n    color: #dce7f7;\n    font-size: 13px;\n  }\n\n  .gp-ncd-table {\n    width: 100%;\n    border-collapse: collapse;\n    margin: 0;\n  }\n\n  .gp-ncd-table tr {\n    border-bottom: 1px solid #edf1f6;\n  }\n\n  .gp-ncd-table tr:last-child {\n    border-bottom: none;\n  }\n\n  .gp-ncd-table td {\n    padding: 14px 20px;\n    font-size: 14px;\n    line-height: 1.5;\n    vertical-align: middle;\n  }\n\n  .gp-ncd-table td:first-child {\n    width: 38%;\n    background: #f7f9fc;\n    color: #4b5563;\n    font-weight: 600;\n    border-right: 1px solid #edf1f6;\n  }\n\n  .gp-ncd-table td:last-child {\n    color: #1f2937;\n    font-weight: 500;\n  }\n\n  .gp-highlight-row td:last-child {\n    color: #19386d;\n    font-weight: 700;\n  }\n\n  .gp-metric-value {\n    display: inline-block;\n    padding: 5px 10px;\n    background: #eef3fa;\n    border-radius: 6px;\n    color: #19386d;\n    font-weight: 700;\n  }\n\n  .gp-security-badge {\n    display: inline-block;\n    padding: 5px 10px;\n    background: #edf8f3;\n    color: #18794e;\n    border: 1px solid #ccebdd;\n    border-radius: 6px;\n    font-size: 12px;\n    font-weight: 700;\n  }\n\n  .gp-rating-badge {\n    display: inline-block;\n    padding: 5px 10px;\n    background: #f1f4f9;\n    color: #19386d;\n    border: 1px solid #d9e2ef;\n    border-radius: 6px;\n    font-size: 12px;\n    font-weight: 700;\n  }\n\n  .gp-date {\n    color: #19386d;\n    font-weight: 600;\n  }\n\n  .gp-ncd-note {\n    padding: 14px 20px;\n    background: #f8faff;\n    border-top: 1px solid #e4eaf3;\n    font-size: 12px;\n    line-height: 1.5;\n    color: #6b7280;\n  }\n\n  @media (max-width: 650px) {\n    .gp-ncd-table-wrap {\n      margin: 24px 0;\n      border-radius: 10px;\n    }\n\n    .gp-ncd-table-header {\n      padding: 18px;\n    }\n\n    .gp-ncd-table-header h2 {\n      font-size: 19px;\n    }\n\n    .gp-ncd-table td {\n      padding: 12px 14px;\n      font-size: 13px;\n    }\n\n    .gp-ncd-table td:first-child {\n      width: 42%;\n    }\n  }\n<\/style>\n\n<div class=\"gp-ncd-table-wrap\">\n\n  <!-- Header -->\n  <div class=\"gp-ncd-table-header\">\n    <h2><span class=\"ez-toc-section\" id=\"SMC_Global_Securities_NCD_%E2%80%93_Key_Issue_Details\"><\/span>SMC Global Securities NCD \u2013 Key Issue Details<span class=\"ez-toc-section-end\"><\/span><\/h2>\n    <p>Secured, Rated, Listed, Redeemable Non-Convertible Debentures<\/p>\n  <\/div>\n\n  <!-- Table -->\n  <div class=\"pcrstb-wrap\"><table class=\"gp-ncd-table\">\n    <tbody>\n\n      <tr>\n        <td>Issuer<\/td>\n        <td><strong>SMC Global Securities Limited<\/strong><\/td>\n      <\/tr>\n\n      <tr>\n        <td>Type of Instrument<\/td>\n        <td>\n          <span class=\"gp-security-badge\">Secured, Rated, Listed, Redeemable Non-Convertible Debentures<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Listing<\/td>\n        <td>BSE Limited<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Base Issue Size<\/td>\n        <td>\u20b975 crore (\u20b97,500 lakh)<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Option to Retain Oversubscription<\/td>\n        <td>\u20b975 crore (\u20b97,500 lakh)<\/td>\n      <\/tr>\n\n      <tr class=\"gp-highlight-row\">\n        <td>Total Issue Size<\/td>\n        <td>\n          <span class=\"gp-metric-value\">\u20b9150 crore (\u20b915,000 lakh)<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Issue Price<\/td>\n        <td>\u20b91,000 per NCD<\/td>\n      <\/tr>\n\n      <tr class=\"gp-highlight-row\">\n        <td>Minimum Investment<\/td>\n        <td>\n          <span class=\"gp-metric-value\">\u20b910,000 (10 NCDs)<\/span> and in multiples of \u20b91,000 thereafter\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Credit Rating<\/td>\n        <td>\n          <span class=\"gp-rating-badge\">[ICRA]A (Stable)<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Debenture Trustee<\/td>\n        <td>IDBI Trusteeship Services Limited<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Registrar to the Issue<\/td>\n        <td>MUFG Intime India Private Limited<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Issue Opening Date<\/td>\n        <td>\n          <span class=\"gp-date\">Monday, October 5, 2026<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Issue Closing Date<\/td>\n        <td>\n          <span class=\"gp-date\">Friday, October 16, 2026*<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Mode of Application<\/td>\n        <td>ASBA \/ UPI mechanism, as applicable<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Mode of Allotment<\/td>\n        <td>Dematerialized form only<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Depositories<\/td>\n        <td>NSDL and CDSL<\/td>\n      <\/tr>\n\n    <\/tbody>\n  <\/table><\/div>\n\n  <div class=\"gp-ncd-note\">\n    <strong>Note:<\/strong> NCD investments are subject to issuer-specific credit, interest-rate, and liquidity risks. Investors should review the offer document before investing.\n  <\/div>\n\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SMC_Global_Securities_NCD_Coupon_Rates_and_Effective_Yield\"><\/span><strong>SMC Global Securities NCD Coupon Rates and Effective Yield<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The NCDs are offered across six series with <strong>monthly, annual and cumulative<\/strong> interest-payment options.<\/p>\n\n\n\n<style>\n  .ncd-yield-wrap {\n    max-width: 950px;\n    margin: 32px auto;\n    background: #ffffff;\n    border: 1px solid #c3d9c9;\n    border-radius: 12px;\n    overflow: hidden;\n    box-shadow: 0 4px 18px rgba(34, 84, 61, 0.08);\n    font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Arial, sans-serif;\n  }\n\n  .ncd-yield-header {\n    padding: 24px 28px 16px;\n    background: #ffffff;\n  }\n\n  .ncd-yield-header h2 {\n    margin: 0 0 8px;\n    color: #1e3a29;\n    font-size: 22px;\n    font-weight: 700;\n  }\n\n  .ncd-yield-header p {\n    margin: 0;\n    color: #4a5568;\n    font-size: 14px;\n    line-height: 1.5;\n  }\n\n  .ncd-yield-table-container {\n    overflow-x: auto;\n    padding: 0 24px 24px;\n  }\n\n  .ncd-yield-table {\n    width: 100%;\n    border-collapse: collapse;\n    border: 1px solid #78a381;\n    text-align: center;\n  }\n\n  .ncd-yield-table th {\n    background-color: #ffffff;\n    color: #111827;\n    font-size: 14px;\n    font-weight: 700;\n    padding: 14px 10px;\n    border: 1px solid #78a381;\n    vertical-align: middle;\n  }\n\n  .ncd-yield-table td {\n    padding: 12px;\n    font-size: 14px;\n    color: #1f2937;\n    border: 1px solid #78a381;\n    vertical-align: middle;\n  }\n\n  \/* Alternating row styling *\/\n  .ncd-yield-table tbody tr:nth-child(odd) {\n    background-color: #dbebe0;\n  }\n\n  .ncd-yield-table tbody tr:nth-child(even) {\n    background-color: #ffffff;\n  }\n\n  @media (max-width: 650px) {\n    .ncd-yield-header {\n      padding: 18px 18px 12px;\n    }\n\n    .ncd-yield-header h2 {\n      font-size: 18px;\n    }\n\n    .ncd-yield-table-container {\n      padding: 0 12px 18px;\n    }\n\n    .ncd-yield-table th, \n    .ncd-yield-table td {\n      padding: 8px 6px;\n      font-size: 12px;\n    }\n  }\n<\/style>\n\n<div class=\"ncd-yield-wrap\">\n  \n  <!-- Header & Description -->\n  <div class=\"ncd-yield-header\">\n    <h2><span class=\"ez-toc-section\" id=\"NCD_Coupon_Rates_Yields_Redemption_Details\"><\/span>NCD Coupon Rates, Yields &amp; Redemption Details<span class=\"ez-toc-section-end\"><\/span><\/h2>\n    <p>Detailed breakdown across series options for tenor, payout frequencies, coupon rates, and effective yields.<\/p>\n  <\/div>\n\n  <!-- Table -->\n  <div class=\"ncd-yield-table-container\">\n    <div class=\"pcrstb-wrap\"><table class=\"ncd-yield-table\">\n      <thead>\n        <tr>\n          <th>Series<\/th>\n          <th>Interest<br>Frequency<\/th>\n          <th>Tenor<br>(Months)<\/th>\n          <th>Coupon<br>(% p.a.)<\/th>\n          <th>Effective Yield<br>(% p.a.)<\/th>\n          <th>Redemption Amount<br>(per NCD)<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr>\n          <td><strong>Series I<\/strong><\/td>\n          <td>Annual<\/td>\n          <td>24<\/td>\n          <td>9.50%<\/td>\n          <td>9.50%<\/td>\n          <td>\u20b91,000<\/td>\n        <\/tr>\n        <tr>\n          <td><strong>Series II<\/strong><\/td>\n          <td>Cumulative<\/td>\n          <td>24<\/td>\n          <td>N\/A<\/td>\n          <td>9.50%<\/td>\n          <td>\u20b91,199.03<\/td>\n        <\/tr>\n        <tr>\n          <td><strong>Series III<\/strong><\/td>\n          <td>Annual<\/td>\n          <td>36<\/td>\n          <td>9.75%<\/td>\n          <td>9.75%<\/td>\n          <td>\u20b91,000<\/td>\n        <\/tr>\n        <tr>\n          <td><strong>Series IV<\/strong><\/td>\n          <td>Cumulative<\/td>\n          <td>36<\/td>\n          <td>N\/A<\/td>\n          <td>9.75%<\/td>\n          <td>\u20b91,321.95<\/td>\n        <\/tr>\n        <tr>\n          <td><strong>Series V<\/strong><\/td>\n          <td>Monthly<\/td>\n          <td>60<\/td>\n          <td>9.57%<\/td>\n          <td>10.00%<\/td>\n          <td>\u20b91,000<\/td>\n        <\/tr>\n        <tr>\n          <td><strong>Series VI<\/strong><\/td>\n          <td>Annual<\/td>\n          <td>60<\/td>\n          <td>10.00%<\/td>\n          <td>10.00%<\/td>\n          <td>\u20b91,000<\/td>\n        <\/tr>\n      <\/tbody>\n    <\/table><\/div>\n  <\/div>\n\n<\/div>\n\n\n\n<p>The coupon is fixed for the applicable series. For the cumulative series, no periodic coupon is paid; the return is reflected in the redemption amount at maturity.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Allocation_Ratio\"><\/span><strong>Allocation Ratio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The NCDs are proposed to be allocated across investor categories as follows, subject to the terms and conditions of the final Prospectus:<\/p>\n\n\n\n<style>\n  .gp-ncd-table-wrap {\n    max-width: 950px;\n    margin: 32px auto;\n    background: #ffffff;\n    border: 1px solid #dce5f2;\n    border-radius: 14px;\n    overflow: hidden;\n    box-shadow: 0 6px 24px rgba(25, 56, 109, 0.08);\n    font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Arial, sans-serif;\n  }\n\n  .gp-ncd-table-header {\n    background: #19386d;\n    padding: 20px 24px;\n  }\n\n  .gp-ncd-table-header h2 {\n    margin: 0;\n    color: #ffffff;\n    font-size: 21px;\n    font-weight: 700;\n    line-height: 1.3;\n  }\n\n  .gp-ncd-table-header p {\n    margin: 5px 0 0;\n    color: #dce7f7;\n    font-size: 13px;\n  }\n\n  .gp-ncd-table {\n    width: 100%;\n    border-collapse: collapse;\n    margin: 0;\n  }\n\n  .gp-ncd-table tr {\n    border-bottom: 1px solid #edf1f6;\n  }\n\n  .gp-ncd-table tr:last-child {\n    border-bottom: none;\n  }\n\n  .gp-ncd-table th {\n    background: #f7f9fc;\n    color: #4b5563;\n    font-weight: 700;\n    font-size: 14px;\n    padding: 14px 20px;\n    text-align: left;\n    border-bottom: 2px solid #edf1f6;\n  }\n\n  .gp-ncd-table td {\n    padding: 14px 20px;\n    font-size: 14px;\n    line-height: 1.5;\n    color: #1f2937;\n    font-weight: 500;\n  }\n\n  .gp-category-badge {\n    display: inline-block;\n    padding: 4px 8px;\n    background: #f1f4f9;\n    color: #19386d;\n    border: 1px solid #d9e2ef;\n    border-radius: 6px;\n    font-size: 12px;\n    font-weight: 700;\n  }\n\n  .gp-metric-value {\n    display: inline-block;\n    padding: 5px 12px;\n    background: #eef3fa;\n    border-radius: 6px;\n    color: #19386d;\n    font-weight: 700;\n  }\n\n  @media (max-width: 650px) {\n    .gp-ncd-table-wrap {\n      margin: 24px 0;\n      border-radius: 10px;\n    }\n\n    .gp-ncd-table-header {\n      padding: 18px;\n    }\n\n    .gp-ncd-table-header h2 {\n      font-size: 19px;\n    }\n\n    .gp-ncd-table th,\n    .gp-ncd-table td {\n      padding: 12px 14px;\n      font-size: 13px;\n    }\n  }\n<\/style>\n\n<div class=\"gp-ncd-table-wrap\">\n\n  <!-- Header -->\n  <div class=\"gp-ncd-table-header\">\n    <h2><span class=\"ez-toc-section\" id=\"Investor_Category_Allocation\"><\/span>Investor Category Allocation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n    <p>Breakdown of allocation percentages across investor classes<\/p>\n  <\/div>\n\n  <!-- Table -->\n  <div class=\"pcrstb-wrap\"><table class=\"gp-ncd-table\">\n    <thead>\n      <tr>\n        <th>Category<\/th>\n        <th>Investor Category<\/th>\n        <th style=\"text-align: right;\">Allocation (%)<\/th>\n      <\/tr>\n    <\/thead>\n    <tbody>\n\n      <tr>\n        <td>\n          <span class=\"gp-category-badge\">Category I<\/span>\n        <\/td>\n        <td>Institutional Investors<\/td>\n        <td style=\"text-align: right;\">\n          <span class=\"gp-metric-value\">10%<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>\n          <span class=\"gp-category-badge\">Category II<\/span>\n        <\/td>\n        <td>Non-Institutional Investors<\/td>\n        <td style=\"text-align: right;\">\n          <span class=\"gp-metric-value\">10%<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>\n          <span class=\"gp-category-badge\">Category III<\/span>\n        <\/td>\n        <td>High Net-worth Individual Investors<\/td>\n        <td style=\"text-align: right;\">\n          <span class=\"gp-metric-value\">40%<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>\n          <span class=\"gp-category-badge\">Category IV<\/span>\n        <\/td>\n        <td>Retail Individual Investors<\/td>\n        <td style=\"text-align: right;\">\n          <span class=\"gp-metric-value\">40%<\/span>\n        <\/td>\n      <\/tr>\n\n    <\/tbody>\n  <\/table><\/div>\n\n<\/div>\n\n\n\n<p>The final allocation will be subject to the applicable provisions of the Prospectus and the basis of allotment determined after the issue closes.<\/p>\n\n\n\n<p>Recent IPOs:<\/p>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ncd-ipo-oct-2026\/\" aria-label=\"Muthoot Fincorp NCD IPO October 2026: Minimum Investment, Rates &amp; Details\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/23165058\/Muthoot-Fincorp-Limited-NCD-IPO-Oct-2026-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Muthoot Fincorp Limited NCD IPO Oct 2026\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/23165058\/Muthoot-Fincorp-Limited-NCD-IPO-Oct-2026-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/23165058\/Muthoot-Fincorp-Limited-NCD-IPO-Oct-2026-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/23165058\/Muthoot-Fincorp-Limited-NCD-IPO-Oct-2026-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/23165058\/Muthoot-Fincorp-Limited-NCD-IPO-Oct-2026-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/23165058\/Muthoot-Fincorp-Limited-NCD-IPO-Oct-2026.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ncd-ipo-oct-2026\/\">Muthoot Fincorp NCD IPO October 2026: Minimum Investment, Rates &amp; Details<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/\" aria-label=\"SMC Global, Securities NCD Issue 2026: 10% Yield, Rating, Details, and How to Invest\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/05123315\/SMC-GLOBAL-SECURITIES-NCD-IPO--1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"SMC-GLOBAL-SECURITIES-(NCD-IPO)-\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/05123315\/SMC-GLOBAL-SECURITIES-NCD-IPO--1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/05123315\/SMC-GLOBAL-SECURITIES-NCD-IPO--300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/05123315\/SMC-GLOBAL-SECURITIES-NCD-IPO--768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/05123315\/SMC-GLOBAL-SECURITIES-NCD-IPO--1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/10\/05123315\/SMC-GLOBAL-SECURITIES-NCD-IPO-.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-ncd-ipo-2026-10-yield-rating-details-and-how-to-invest\/\">SMC Global, Securities NCD Issue 2026: 10% Yield, Rating, Details, and How to Invest<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/edelweiss-financial-services-limited-ncd-ipo-4\/\" aria-label=\"Edelweiss Financial Services Limited NCD IPO\"><img decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/18163606\/Blog-banner-2%402x-1024x486.png\" class=\"attachment-large size-large wp-post-image\" alt=\"Edelweiss Financial Services NCD IPO\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/18163606\/Blog-banner-2%402x-1024x486.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/18163606\/Blog-banner-2%402x-300x142.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/18163606\/Blog-banner-2%402x-768x364.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/18163606\/Blog-banner-2%402x-1536x728.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/18163606\/Blog-banner-2%402x-2048x971.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/edelweiss-financial-services-limited-ncd-ipo-4\/\">Edelweiss Financial Services Limited NCD IPO<\/a><\/li>\n<\/ul>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Invest_in_SMC_Global_Securities_NCD_IPO_via_GoldenPi\"><\/span><strong>How to Invest in SMC Global Securities NCD IPO via GoldenPi<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Log in to your GoldenPi account.<\/li>\n\n\n\n<li>Search for the <strong>SMC Global Securities NCD<\/strong> issue.<\/li>\n\n\n\n<li>Select your preferred series based on the available tenure and interest-payment option.<\/li>\n\n\n\n<li>Enter the investment amount, with a minimum application of \u20b910,000, and complete the application using the applicable payment\/application mechanism.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financial_Overview_of_SMC_Global_Securities_Limited\"><\/span><strong>Financial Overview of SMC Global Securities Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Consolidated Financial Highlights (in \u20b9 Crore)<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>FY 2023-24<\/strong><\/td><td><strong>FY 2024-25<\/strong><\/td><td><strong>FY 2025-26<\/strong><\/td><td><strong>Q1 FY 2026-27<\/strong><\/td><\/tr><tr><td><strong>Revenue from Operations<\/strong><\/td><td>\u20b91,638.41 Cr<\/td><td>\u20b91,775.74 Cr<\/td><td>\u20b91,876.92 Cr<\/td><td>\u20b9515.08 Cr<\/td><\/tr><tr><td><strong>Total Income<\/strong><\/td><td>\u20b91,644.59 Cr<\/td><td>\u20b91,785.72 Cr<\/td><td>\u20b91,884.49 Cr<\/td><td>\u20b9515.60 Cr<\/td><\/tr><tr><td><strong>Total Expenses<\/strong><\/td><td>\u20b91,400.06 Cr<\/td><td>\u20b91,593.69 Cr<\/td><td>\u20b91,749.96 Cr<\/td><td>\u20b9469.02 Cr<\/td><\/tr><tr><td><strong>Profit After Tax (PAT)<\/strong><\/td><td>\u20b9188.28 Cr<\/td><td>\u20b9146.81 Cr<\/td><td>\u20b9103.25 Cr<\/td><td>\u20b936.74 Cr<\/td><\/tr><tr><td><strong>Net Worth (Equity)<\/strong><\/td><td>\u20b91,095.73 Cr<\/td><td>\u20b91,217.17 Cr<\/td><td>\u20b91,303.98 Cr<\/td><td>\u20b91,340.74 Cr<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Standalone Financial Highlights (in \u20b9 Crore)<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>FY 2023-24<\/strong><\/td><td><strong>FY 2024-25<\/strong><\/td><td><strong>FY 2025-26<\/strong><\/td><td><strong>Q1 FY 2026-27<\/strong><\/td><\/tr><tr><td><strong>Total Income<\/strong><\/td><td>\u20b9883.46 Cr<\/td><td>\u20b9955.38 Cr<\/td><td>\u20b9998.54 Cr<\/td><td>\u20b9280.07 Cr<\/td><\/tr><tr><td><strong>Expenses<\/strong><\/td><td>\u20b9703.51 Cr<\/td><td>\u20b9824.21 Cr<\/td><td>\u20b9897.64 Cr<\/td><td>\u20b9248.45 Cr<\/td><\/tr><tr><td><strong>Profit After Tax (PAT)<\/strong><\/td><td>\u20b9141.03 Cr<\/td><td>\u20b9105.26 Cr<\/td><td>\u20b981.32 Cr<\/td><td>\u20b925.12 Cr<\/td><\/tr><tr><td><strong>Net Worth<\/strong><\/td><td>\u20b9883.80 Cr<\/td><td>\u20b9962.57 Cr<\/td><td>\u20b91,018.17 Cr<\/td><td>\u20b91,043.15 Cr<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cash_Flow_Summary_in_%E2%82%B9_Crore\"><\/span><strong>Cash Flow Summary (in \u20b9 Crore)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<style>\n  .cashflow-table-wrap {\n    max-width: 900px;\n    margin: 32px auto;\n    padding: 24px;\n    background: #ffffff;\n    font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Arial, sans-serif;\n    box-sizing: border-box;\n    overflow-x: auto;\n  }\n\n  .cashflow-title {\n    margin: 0 0 16px 12px;\n    color: #19386d;\n    font-size: 22px;\n    font-weight: 700;\n  }\n\n  .cashflow-subtitle {\n    margin: 20px 0 8px 12px;\n    color: #2d3748;\n    font-size: 17px;\n    font-weight: 600;\n  }\n\n  .cashflow-table {\n    width: 100%;\n    border-collapse: separate;\n    border-spacing: 12px;\n    margin: 0 0 24px 0;\n  }\n\n  .cashflow-table th,\n  .cashflow-table td {\n    padding: 18px 14px;\n    text-align: center;\n    border-radius: 8px;\n    font-size: 16px;\n    vertical-align: middle;\n    box-sizing: border-box;\n  }\n\n  \/* Empty Top-Left Cell *\/\n  .cashflow-table th.empty-header {\n    background: transparent;\n  }\n\n  \/* Year Headers Styling *\/\n  .cashflow-table th.year-header {\n    background: #ebdcd0;\n    color: #8c684d;\n    font-size: 18px;\n    font-weight: 600;\n  }\n\n  \/* Row Title Cells (Teal Green) *\/\n  .cashflow-table td.row-title {\n    background: #a3dacd;\n    color: #83522f;\n    font-style: italic;\n    font-family: Georgia, serif;\n    font-size: 15px;\n    line-height: 1.3;\n    font-weight: 600;\n    width: 25%;\n    text-align: center;\n  }\n\n  \/* Year Column Progressive Pastel Colors *\/\n  .col-fy24 {\n    background: #fffde3;\n    color: #8c684d;\n    font-size: 16px;\n    font-weight: 600;\n  }\n\n  .col-fy25 {\n    background: #fde8ca;\n    color: #8c684d;\n    font-size: 16px;\n    font-weight: 600;\n  }\n\n  .col-fy26 {\n    background: #f8d3b0;\n    color: #8c684d;\n    font-size: 16px;\n    font-weight: 600;\n  }\n\n  @media (max-width: 768px) {\n    .cashflow-table {\n      border-spacing: 6px;\n    }\n\n    .cashflow-table th,\n    .cashflow-table td {\n      padding: 12px 6px;\n      font-size: 13px;\n    }\n\n    .cashflow-table th.year-header {\n      font-size: 14px;\n    }\n\n    .cashflow-table td.row-title {\n      font-size: 11px;\n    }\n  }\n<\/style>\n\n<div class=\"cashflow-table-wrap\">\n\n  <h2 class=\"cashflow-title\"><span class=\"ez-toc-section\" id=\"Cash_Flow_Summary_in_%E2%82%B9_Crore-2\"><\/span>Cash Flow Summary (in \u20b9 Crore)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n  <!-- Consolidated Cash Flow -->\n  <h3 class=\"cashflow-subtitle\">Consolidated Cash Flow<\/h3>\n  <div class=\"pcrstb-wrap\"><table class=\"cashflow-table\">\n    <thead>\n      <tr>\n        <th class=\"empty-header\"><\/th>\n        <th class=\"year-header\">FY 2023-24<\/th>\n        <th class=\"year-header\">FY 2024-25<\/th>\n        <th class=\"year-header\">FY 2025-26<\/th>\n      <\/tr>\n    <\/thead>\n    <tbody>\n      <tr>\n        <td class=\"row-title\">Cash Flow from<br>Operating Activities<\/td>\n        <td class=\"col-fy24\">-\u20b9192.79 Cr<\/td>\n        <td class=\"col-fy25\">\u20b923.54 Cr<\/td>\n        <td class=\"col-fy26\">-\u20b972.91 Cr<\/td>\n      <\/tr>\n      <tr>\n        <td class=\"row-title\">Cash Flow from<br>Investing Activities<\/td>\n        <td class=\"col-fy24\">-\u20b928.66 Cr<\/td>\n        <td class=\"col-fy25\">-\u20b926.81 Cr<\/td>\n        <td class=\"col-fy26\">-\u20b942.71 Cr<\/td>\n      <\/tr>\n      <tr>\n        <td class=\"row-title\">Cash Flow from<br>Financing Activities<\/td>\n        <td class=\"col-fy24\">\u20b9316.08 Cr<\/td>\n        <td class=\"col-fy25\">\u20b924.45 Cr<\/td>\n        <td class=\"col-fy26\">\u20b9110.39 Cr<\/td>\n      <\/tr>\n    <\/tbody>\n  <\/table><\/div>\n\n  <!-- Standalone Cash Flow -->\n  <h3 class=\"cashflow-subtitle\">Standalone Cash Flow<\/h3>\n  <div class=\"pcrstb-wrap\"><table class=\"cashflow-table\">\n    <thead>\n      <tr>\n        <th class=\"empty-header\"><\/th>\n        <th class=\"year-header\">FY 2023-24<\/th>\n        <th class=\"year-header\">FY 2024-25<\/th>\n        <th class=\"year-header\">FY 2025-26<\/th>\n      <\/tr>\n    <\/thead>\n    <tbody>\n      <tr>\n        <td class=\"row-title\">Cash Flow from<br>Operating Activities<\/td>\n        <td class=\"col-fy24\">-\u20b9133.91 Cr<\/td>\n        <td class=\"col-fy25\">-\u20b9111.36 Cr<\/td>\n        <td class=\"col-fy26\">-\u20b9162.17 Cr<\/td>\n      <\/tr>\n      <tr>\n        <td class=\"row-title\">Cash Flow from<br>Investing Activities<\/td>\n        <td class=\"col-fy24\">\u20b90.54 Cr<\/td>\n        <td class=\"col-fy25\">\u20b91.51 Cr<\/td>\n        <td class=\"col-fy26\">-\u20b982.36 Cr<\/td>\n      <\/tr>\n      <tr>\n        <td class=\"row-title\">Cash Flow from<br>Financing Activities<\/td>\n        <td class=\"col-fy24\">\u20b9165.91 Cr<\/td>\n        <td class=\"col-fy25\">\u20b972.18 Cr<\/td>\n        <td class=\"col-fy26\">\u20b9282.08 Cr<\/td>\n      <\/tr>\n    <\/tbody>\n  <\/table><\/div>\n\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SMC_Global_Securities_NCD_Key_Points\"><\/span><strong>SMC Global Securities NCD: Key Points<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Security Cover<\/strong><\/h3>\n\n\n\n<p>The NCDs are secured by a <strong>pari passu charge over the company&#8217;s Trade Receivables and Margin Trading Facility (MTF)<\/strong>, created in favour of the debenture trustee. A minimum security cover of <strong>110% of the outstanding principal amount of the NCDs and interest due and payable<\/strong> is required to be maintained.<\/p>\n\n\n\n<p>The security is subject to the exclusions and arrangements specified in the prospectus, including charges in favour of existing secured charge holders.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Credit Rating<\/strong><\/h3>\n\n\n\n<p>The NCDs have been assigned a rating of <strong>[ICRA]A (Stable)<\/strong> by ICRA Limited. ICRA&#8217;s September 14, 2026 rating action confirms the rating for the non-convertible debentures.<\/p>\n\n\n\n<p>An ICRA A rating indicates an adequate degree of safety regarding timely servicing of financial obligations, with a moderate level of credit risk within ICRA&#8217;s rating scale.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Payout Options<\/strong><\/h3>\n\n\n\n<p>Investors can choose among <strong>monthly, annual and cumulative<\/strong> interest-payment options, depending on the series selected. The available tenures are 24, 36 and 60 months.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>BSE Listing<\/strong><\/h3>\n\n\n\n<p>The NCDs are proposed to be listed on <strong>BSE Limited<\/strong>. BSE has granted in-principle approval for the listing, and BSE is the designated stock exchange for the issue.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SMC_Global_Securities_NCD_Risks_to_Consider\"><\/span><strong>SMC Global Securities NCD: Risks to Consider<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Capital-Market Sensitivity<\/strong><\/h3>\n\n\n\n<p>A significant part of SMC&#8217;s business is linked to securities broking, distribution and other capital-market activities. Revenue from these activities can therefore be sensitive to market activity and trading volumes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Negative Operating Cash Flow<\/strong><\/h3>\n\n\n\n<p>Consolidated operating cash flow was negative in FY 2023-24 and FY 2025-26, while standalone operating cash flow was negative in each of FY 2023-24, FY 2024-25 and FY 2025-26.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Legal and Regulatory Proceedings<\/strong><\/h3>\n\n\n\n<p>SMC Global Securities has disclosed various legal and regulatory matters. Separately, the company was named in a <strong>2026 CBI supplementary chargesheet related to the NSE co-location matter<\/strong>. This should be considered separately from an earlier CBI case involving SMC&#8217;s system-audit arrangements, for which a closure report was accepted in 2025.<\/p>\n\n\n\n<p>Investors should refer to the prospectus for the company&#8217;s complete disclosure of legal and regulatory proceedings and associated risks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Shared Security<\/strong><\/h3>\n\n\n\n<p>The security for the NCDs is subject to the pari passu arrangements and exclusions described in the prospectus, including existing secured charge holders. Investors should review the security-creation and charge-related disclosures before investing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"About_SMC_Global_Securities_Limited\"><\/span><strong>About SMC Global Securities Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Established in <strong>1994<\/strong>, SMC Global Securities Limited is a diversified financial-services company with businesses spanning securities broking, distribution, wealth management, investment banking, financing and other financial services.<\/p>\n\n\n\n<p>The SMC Group has operations and memberships across major Indian exchanges, including <strong>BSE, NSE, MCX, NCDEX and MSEI<\/strong>, through the relevant group entities.<\/p>\n\n\n\n<p>The group also operates in lending through <strong>Moneywise Financial Services<\/strong> and insurance broking through <strong>SMC Insurance Brokers<\/strong>, alongside its securities-market businesses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>SMC Global Securities&#8217; October 2026 NCD issue offers six series across 24-, 36- and 60-month tenures, with effective yields ranging from <strong>9.50% to 10.00% p.a.<\/strong> The issue has a base size of <strong>\u20b975 crore<\/strong> and can be increased to <strong>\u20b9150 crore<\/strong> through the oversubscription option.<\/p>\n\n\n\n<p>The NCDs carry an <strong>[ICRA]A (Stable)<\/strong> rating and are secured by a pari passu charge over specified Trade Receivables and MTF, with a minimum <strong>110% security cover<\/strong>. Investors should also consider the company&#8217;s cash-flow profile, capital-market sensitivity and disclosed legal and regulatory matters before making an investment decision.<\/p>\n\n\n\n<p>*The issue may close earlier or be extended, subject to the terms specified in the prospectus.<\/p>\n\n\n<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">Ready to Invest?<\/div>\n<div class=\"gpi-custom-widget-content\">\n<p>Visit <a href=\"https:\/\/goldenpi.com\/\">GoldenPi<\/a> to explore current bond options. Compare yields, ratings, and tenures in one place and invest online with as little as \u20b930,000.<\/p>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disclaimer\"><\/span>Disclaimer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities and municipal debt securities\/securitized debt instruments are subject to credit risks, market risks, and default risks, including delay and\/or default in payment. Read all the offer-related documents carefully. This blog\/article should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products\/services of\/on GoldenPi or any product\/services of its third-party client(s). For a detailed calculation of YTM, visit our website.&nbsp;<a href=\"https:\/\/delivery.goldenpi.com\/XPRBSN?id=162365=ch0GCFVXBVBUH1QDUlZXUlgBVgNSUwJVWgQGDFJQAVsEUwRfBldSBFVUAglRBFJSAA0ZBgxfQFBbERxBFSNTV10FU1cTDBgFDg5OAFIKVVFQBlZTVwQBBgFSAg0aC0BMQRIMFkwBUwoIFVdDHBwCCw1QAAsTWBpSVwgebDYxdmt\/Xl9dHxMF&amp;fl=WRVCSRBfGUkETltfVwNLAxVbCQwNWhpYVkpFGwMOBRcEWQMNUEoHSQJaV1BQAQQHTAZXA1IcAAMOBBxWB1IMFQUEVQxXXAEFBVQEUkpTVlMCUFEHU1JVAwhUAFECAQZaVFEADVAAVQBXVFRUUw==\" target=\"_blank\" rel=\"noreferrer noopener\">T&amp;C\u2019s Apply<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SMC Global Securities NCD \u2013 Key Issue Details Secured, Rated, Listed, Redeemable Non-Convertible Debentures Issuer SMC Global Securities Limited Type of Instrument&hellip;<\/p>\n","protected":false},"author":4,"featured_media":16495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[113],"tags":[],"class_list":["post-16487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ncd-ipo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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