What are Non-Convertible Debentures (NCDs)?
Whenever a company wants to raise money from the public or institutions, it issues a debt paper for a specified tenure where it pays a fixed interest on the investment. This paper is known as a debenture. Some of the debentures are termed as convertible debentures since they can be converted into equity shares on maturity. A Non – Convertible debenture or NCD does not have the option of conversion into shares and on maturity the principal amount along with accumulated interest is paid to the holder of the instrument.
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