Arman Financial Services Limited has announced the approval of its Finance & Investment Committee for the issuance of Non-Convertible Debentures (NCDs) worth ₹125 crore. The issuance comprises 125,000 listed, rated, senior, secured, transferable, redeemable NCDs, each with a face value of ₹10,000.

The NCDs will be issued through a private placement and are proposed to be listed on the Wholesale Debt segment of BSE Limited. The tenure of the instrument is tentatively 30 months from the deemed date of allotment, which is scheduled for January 29, 2026.

Redemption of the principal will occur in tranches: 30% at the 24th month, 30% at the 27th month, and the remaining 40% by the 30th month or final redemption date. The NCDs will carry an interest rate of 11.35% per annum, payable quarterly, with principal repayment also scheduled quarterly. The issue will be secured by a first-ranking exclusive charge over specified book debts.

The company is awaiting the credit rating letter for this issuance, which is expected in the coming days. The issuance and allotment will proceed only after receiving this rating, in compliance with SEBI regulations. The Finance & Investment Committee meeting was held on January 19, 2026, from 3:15 p.m. to 3:45 p.m.