SMC Global Securities Limited NCD IPO

Rating

The rating of an issuer company reflects its past growth and performance. The rating increases when the company consistently performs well and decreases when it is not performing well.

Categories

Low risk:

AAA, AA+, AA, AA-, A+, A, A-

Moderate risk

BBB+, BBB, BBB-, BB+, BB

High risk

BB-, B+, B, B-, C, D

The rating agency for this Bond is ICRA Limited.

About

SMC Global Securities Limited is a financial services company established in 1994. The company is involved in providing brokerage, portfolio management, investment banking, wealth management, and financial product distribution services. It also operates in financing through its non-banking financial company (NBFC) arm, insurance broking, real estate brokerage, arbitrage and high-frequency proprietary trading, clearing and depository services, as well as fixed income, mortgage, and loan advisory services. As of June 30, 2025, SMC Global Securities operated through 210 branches, including one international branch in Dubai, and a network of 2,137 registered authorised persons across 412 cities in India. Use of Proceeds The proceeds from the current issue of NCDs are proposed to be used for the following purposes: To meet the working capital requirements — at least 75 percent of the net proceeds (as per the prospectus). General corporate purposes — maximum up to 25 percent of the net proceeds.;

Pros and Cons

Pros

Cons

SMC Global Securities is a full-service broking house with a presence in 412 cities and towns across India. As of June 30, 2025, it serviced clients through 210 branches (including one in Dubai) and 2,137 registered authorised persons, enabling broad national and limited international coverage.

SMC Global Securities offers a diverse range of financial products under one platform, including equity, commodity, and currency broking, as well as depository, clearing, insurance, and wealth management services. The company also provides investment banking, research, and real estate advisory services.

As of June 30, 2025, the company claims to have over 1.92 lakh active clients and a total of 11.96 lakh clients acquired through online and digital platforms. It operates service centres in major cities such as New Delhi, Mumbai, and Kolkata, supported by dealer helpdesks, authorised persons, and 6,811 financial distributors.

The company claims to have built long-term relationships with various corporate clients, including those using its clearing services and those registered as trading members, authorised persons, or independent financial distributors. These associations span multiple areas of its business operations.

SMC Global Securities claims to have invested heavily in building its own technology platforms, including mobile apps (Stoxkart and SMC ACE), web trading tools, and the EasyInvest app for mutual funds. These platforms are said to offer advanced analytics, live trading tools, and goal-based investment features, supported by a modern technology stack and disaster recovery systems.

The company has experienced a consistent increase in revenue from operations. It increased from Rs 1,211.57 crore in FY23 to Rs 1,638.41 crore in FY24 and Rs 1,775.74 crore in FY25.

SMC Global Securities Limited NCD

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