{"id":9957,"date":"2025-10-28T05:09:50","date_gmt":"2025-10-28T05:09:50","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=9957"},"modified":"2026-02-23T14:55:57","modified_gmt":"2026-02-23T14:55:57","slug":"smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/","title":{"rendered":"SMC Global Securities Limited NCD IPO \u2013 October 2025, should you invest?"},"content":{"rendered":"<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 ' ><ul class='ez-toc-list-level-2' ><li class='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-limited-ncd-ipo-october-2025-should-you-invest\/#High_Yield_ICRA_AStable_Rated_Minimum_Investment_10k_Only\" >High Yield\u00a0| ICRA A\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/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-limited-ncd-ipo-october-2025-should-you-invest\/#i\" >\u00a0<\/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-limited-ncd-ipo-october-2025-should-you-invest\/#Bond_overview\" >Bond overview\u00a0<\/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-limited-ncd-ipo-october-2025-should-you-invest\/#Coupon_rates_and_effective_yield_for_each_of_the_series\" >Coupon rates and effective yield for each of the series\u00a0<\/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-limited-ncd-ipo-october-2025-should-you-invest\/#Allocation_Ratio\" >Allocation Ratio<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/#Investment_Process_for_SMC_Global_Securities_Limited_NCD_IPO\" >Investment Process for SMC Global Securities Limited NCD IPO<\/a><\/li><\/ul><\/li><\/ul><\/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-limited-ncd-ipo-october-2025-should-you-invest\/#Financial_Overview\" >Financial Overview<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/#Snapshot_stating_the_Revenue_Expenses_PAT_In_crores\" >Snapshot stating the Revenue, Expenses, PAT (In crores)\u00a0\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/#Cash_flow_for_last_5_years_In_crores\" >Cash flow for last 5 years (In crores)<\/a><\/li><\/ul><\/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-limited-ncd-ipo-october-2025-should-you-invest\/#Ratio_Analysis\" >Ratio Analysis<\/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-limited-ncd-ipo-october-2025-should-you-invest\/#Issue_analysis\" >Issue analysis<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/#Pros\" >Pros\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/#Cons\" >Cons\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/#Liquidity\" >Liquidity<\/a><\/li><\/ul><\/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-limited-ncd-ipo-october-2025-should-you-invest\/#To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\" >To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/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-limited-ncd-ipo-october-2025-should-you-invest\/#About_SMC_Global_Securities_Limited\" >About SMC Global Securities Limited\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/#Strengths\" >Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/#Weakness\" >Weakness<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/#Invest_in_Bond_IPO_online_in_just_5_minutes\" >Invest in Bond IPO online in just 5 minutes<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"High_Yield_ICRA_AStable_Rated_Minimum_Investment_10k_Only\"><\/span><strong>High Yield\u00a0| ICRA A\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"i\"><\/span><span style=\"font-weight: 400;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Bond_overview\"><\/span><b>Bond overview\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">SMC Global Securities\u00a0 Limited is issuing the Non-Convertible Debentures. These NCDs are A\/Stable rated by ICRA. The NCDs are being issued in six series: coupon ranges from 9.75% to 10.25% p.a. and different tenures of 24 months, 36 months and 60 months. The NCDs are secured and redeemable in nature.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9958 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050011\/Screenshot-2025-10-28-102806.png\" alt=\"\" width=\"672\" height=\"792\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050011\/Screenshot-2025-10-28-102806.png 672w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050011\/Screenshot-2025-10-28-102806-255x300.png 255w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050011\/Screenshot-2025-10-28-102806-585x689.png 585w\" sizes=\"(max-width: 672px) 100vw, 672px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Coupon_rates_and_effective_yield_for_each_of_the_series\"><\/span><b>Coupon rates and effective yield for each of the series\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"size-full wp-image-9959 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050032\/Coupon-Series-.png\" alt=\"\" width=\"1008\" height=\"416\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050032\/Coupon-Series-.png 1008w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050032\/Coupon-Series--300x124.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050032\/Coupon-Series--768x317.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050032\/Coupon-Series--585x241.png 585w\" sizes=\"(max-width: 1008px) 100vw, 1008px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Allocation_Ratio\"><\/span><b>Allocation Ratio<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI.\u00a0 Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for <\/span><span style=\"font-weight: 400;\">SMC Global Securities Limited <\/span><span style=\"font-weight: 400;\">NCD-IPO.\u00a0<\/span><\/p>\n<h4><img decoding=\"async\" class=\"size-large wp-image-9960 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050051\/SMC-Allocation-Ratio-1024x654.png\" alt=\"\" width=\"1024\" height=\"654\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050051\/SMC-Allocation-Ratio-1024x654.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050051\/SMC-Allocation-Ratio-300x191.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050051\/SMC-Allocation-Ratio-768x490.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050051\/SMC-Allocation-Ratio-1536x980.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050051\/SMC-Allocation-Ratio-1170x747.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050051\/SMC-Allocation-Ratio-585x373.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050051\/SMC-Allocation-Ratio.png 1653w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Investment_Process_for_SMC_Global_Securities_Limited_NCD_IPO\"><\/span><b>Investment Process for SMC Global Securities Limited NCD IPO<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">You can invest in IPOs via GoldenPi in these easy steps. <\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9201 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow.png\" alt=\"\" width=\"576\" height=\"218\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow.png 576w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow-300x114.png 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Overview\"><\/span><b>Financial Overview<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Snapshot_stating_the_Revenue_Expenses_PAT_In_crores\"><\/span><b>Snapshot stating the Revenue, Expenses, PAT (In crores)\u00a0\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img decoding=\"async\" class=\"size-large wp-image-9961 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050201\/Revenue-PAT-1024x615.png\" alt=\"\" width=\"1024\" height=\"615\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050201\/Revenue-PAT-1024x615.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050201\/Revenue-PAT-300x180.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050201\/Revenue-PAT-768x461.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050201\/Revenue-PAT-1536x922.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050201\/Revenue-PAT-1170x702.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050201\/Revenue-PAT-585x351.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050201\/Revenue-PAT.png 1653w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cash_flow_for_last_5_years_In_crores\"><\/span><b>Cash flow for last 5 years (In crores)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img decoding=\"async\" class=\"size-full wp-image-9965 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050909\/Screenshot-2025-10-17-204352.png\" alt=\"\" width=\"939\" height=\"616\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050909\/Screenshot-2025-10-17-204352.png 939w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050909\/Screenshot-2025-10-17-204352-300x197.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050909\/Screenshot-2025-10-17-204352-768x504.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050909\/Screenshot-2025-10-17-204352-585x384.png 585w\" sizes=\"(max-width: 939px) 100vw, 939px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Cash flow refers to the movement of cash in and out of the business at a specific point in time. It represents the net balance of the cash movement.<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">*Cash flow from operating activities reflects the amount a company generates through its product of services.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">**Cash flow from investing activities reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities etc.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><span style=\"font-weight: 400;\">***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects <\/span><span style=\"font-weight: 400;\">the net flows of cash that are used to fund the company.<\/span><\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Ratio_Analysis\"><\/span><b>Ratio Analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"size-full wp-image-9962 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050255\/SMC-Table-Format.png\" alt=\"\" width=\"900\" height=\"691\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050255\/SMC-Table-Format.png 900w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050255\/SMC-Table-Format-300x230.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050255\/SMC-Table-Format-768x590.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/10\/28050255\/SMC-Table-Format-585x449.png 585w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Issue_analysis\"><\/span><b>Issue analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Pros\"><\/span><strong>Pros\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The ratings of the company is\u00a0 ICRA A\/Stable ensuring more safe investments.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The yield offered is up to 10.25% which is much higher than many traditional fixed-income investments like FDs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The company has adequate Interest Coverage Ratio in order to meet its interest Obligations on debt instruments.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">SMC Global maintains adequate capitalization with plans to reduce gearing below 6.0 times, ensuring controlled growth and improved financial stability.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Cons\"><\/span><strong>Cons\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The company is prone to regulatory risk associated with SEBI and other regulators as well.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Despite recent improvements, SMC Global Securities profitability remains subdued with increasing operating costs.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Liquidity\"><\/span><b>Liquidity<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Standalone Liquidity:<\/b><b><br \/>\n<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Short-term loan assets: <\/span><b>\u20b9280 Cr<\/b><b><br \/>\n<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Undrawn bank lines: <\/span><b>\u20b9300 Cr<\/b><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>NBFC (MFSPL) Liquidity:<\/b><b><br \/>\n<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">On-balance liquidity : <\/span><b>\u20b959 Cr<\/b><b><br \/>\n<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Repayments (H1 FY26): <\/span><b>\u20b9214 Cr<\/b><span style=\"font-weight: 400;\"> vs. inflows of <\/span><b>\u20b9256 Cr<\/b><b><br \/>\n<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Positive ALM across short-term buckets<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-better-return-fds\"><b>To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"About_SMC_Global_Securities_Limited\"><\/span><b>About SMC Global Securities Limited\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Established in 1994, SMC Global Securities is a diversified financial services powerhouse offering a wide array of services including brokerage, portfolio management, investment banking, wealth management, and insurance broking. With a robust presence across 424 cities in India and an international branch in Dubai, SMC serves its clients through a vast network of 208 branches. The shares of the company are traded on both BSE and NSE having a market cap of more than 1500 crores.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">SMC is a member of major intermediaries of the stock market like NSDL, CDSL, BSE, NSE, MCX,ICCL, NCCL\u00a0 and NCDEX. They have also\u00a0 started their operations in IFSC GIFT City in Gujarat recently.<\/span> <span style=\"font-weight: 400;\">Mr Subhash Aggarwal has been serving as the Managing Director and Chairman of the company since 1994.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Strengths\"><\/span><b>Strengths<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Established Track Record:<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">Over 3 decades in capital market &amp; allied businesses, with presence in <\/span><b>208 \u00a0 branches<\/b><span style=\"font-weight: 400;\"> and <\/span><b>2,147 franchisees<\/b><span style=\"font-weight: 400;\"> as of March 2025.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Diversified Revenue Streams:<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\"> The business spans equity broking, wealth management, insurance broking, financial product distribution, NBFC lending, MTF, and proprietary trading.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Strong Client Base:<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\"> NSE active client base of <\/span><b>2 lakh<\/b><span style=\"font-weight: 400;\">, plus discount broking (Stoxkart) with <\/span><b>13,031 clients<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Robust Profitability:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">FY25 PAT: <\/span><b>\u20b9147 Cr<\/b><span style=\"font-weight: 400;\"> | RoNW: <\/span><b>12.7%<\/b><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Healthy Capitalisation:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Net Worth: <\/span><b>\u20b91,220 Cr<\/b><span style=\"font-weight: 400;\"> (March 2024)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Consolidated gearing: <\/span><b>1.4x<\/b><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>NBFC Subsidiary (MFSPL):<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">RoA: <\/span><b>4.5% (FY24)<\/b><span style=\"font-weight: 400;\">, <\/span><b>3.6% (H1 FY25)<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">CRAR: <\/span><b>37%<\/b><span style=\"font-weight: 400;\">, Gearing: <\/span><b>1.9x<\/b><span style=\"font-weight: 400;\"> (March 2025)<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Weakness\"><\/span><b>Weakness<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exposure to Capital Market Cyclicality:<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\"> ~55% of Net Operating Income is from market-linked businesses, sensitive to volatility and regulatory changes.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>High Competition &amp; Margin Pressure:<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\"> Intense pricing pressure due to discount broking models and new entrants.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Regulatory Risks:<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\"> Frequent changes by SEBI (like new F&amp;O rules) could impact volumes and profitability.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Capital Market Lending Risk:<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\"> T+5 exposure at \u20b9525 Cr\u00a0 (March 2025) \u2013 subject to collateral value fluctuations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>SME Lending Risk via NBFC Arm:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">~<\/span><b>40% of AUM unsecured<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Gross Stage-3 assets increased to 3.6% (2025) from 2.2%(2024)<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h1 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Invest_in_Bond_IPO_online_in_just_5_minutes\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-ipo-online\"><b>Invest in Bond IPO online in just 5 minutes<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><span style=\"font-weight: 400;\"><strong>Source-<\/strong> Prospectus September 30, 2025<\/span><\/p>\n<p><strong>Disclaimer- <\/strong><span style=\"font-weight: 400;\">The information is published as on date 28\/10\/2025 based on information available on Prospectus September 30, 2025. The information may be subject to change in case of change in terms of prospectus or any other reason as the case may be. Contents which are exclusively for educational information\/knowledge sharing on capital market concepts and has no influence the investment\/sale decisions of any investors<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>High Yield\u00a0| ICRA A\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only \u00a0 Bond overview\u00a0 SMC Global Securities\u00a0 Limited is issuing the Non-Convertible Debentures. These NCDs&hellip;<\/p>\n","protected":false},"author":4,"featured_media":11873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[113],"tags":[],"class_list":["post-9957","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 v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SMC Global Securities Limited NCD IPO \u2013 October 2025, should you invest? - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"SMC Global Securities Limited NCD IPO \u2013 October 2025, should you invest?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/smc-global-securities-limited-ncd-ipo-october-2025-should-you-invest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SMC Global Securities Limited NCD IPO \u2013 October 2025, should you invest? 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