North Carolina Authorization to purchase 6 percent convertible debentures
Description
How to fill out Authorization To Purchase 6 Percent Convertible Debentures?
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FAQ
The capital investment requirement differs with every NCD issue and is set by the company. However, the minimum required amount is Rs 10,000.
Buying an NCD Directly from the Issuer: You may directly visit the issuer's website and can apply from there by making an online payment. Buying NCD through a Broker: If you already have a Demat account with any brokerage firm, you can buy the NCD when it starts trading in the secondary market.
NCD issue process is similar to the IPO process Investors apply for NCD shares through a broker. Based on the subscription, they receive the number of NCD shares. The NCD's are credited to the demat account and the money gets deducted from the trading/bank account.
Investors can hold on to their convertible debentures and continue to receive fixed interest payments at the rate of 2% per year until the debt matures and the company returns their principal.
Section 71(1) permits companies to issue debentures with an option to convert such debenture into shares, either wholly or partly at the time of redemption, provided that it shall be approved by a special resolution passed at a general meeting.
A company can issue any type of debenture based on its requirement. A convertible debenture is one among them, which is a hybrid debt instrument that strikes a balance between equity and debt. This debt instrument is where the company can convert into equity shares fully or partially.
Advantages of investing in NCDs. NCDs offer higher interest rates as compared to traditional investment options like bank FDs, government bonds or securities, etc. Generally, the NBFC NCD rate of interest is higher by up to 150-175 basis points than bank FDs. NCDs are tradable in the share market, hence highly liquid.
Later, the company issues the NCDs through a public issue that remains open for a specific period, similar to IPOs. The process of how to buy non-convertible debentures requires the investors to login into their online stock broking account and place a buy order to buy NCD online.
