Mangalam Worldwide Completes Maiden Rs 500 Million NCD Issuance

25 Mar 2026 CW Team

Mangalam Worldwide (MWL) has announced the successful completion of its first non-convertible debenture (NCD) issuance, raising Rs 500 million through private placement. The issuance, consisting of 50,000 debentures with a face value of Rs 10,000 each, is rated, listed, and senior-secured, marking a significant milestone for the company in the capital markets.

The NCDs, which are transferable and redeemable, have been assigned a provisional long-term rating of ‘ACUITE A+’ by Acuité. This marks a key step in MWL’s financial strategy as it diversifies its funding sources and strengthens its balance sheet.

Chandragupt Prakash Mangal, Managing Director of MWL, commented, “This NCD issuance is a crucial move to support our long-term growth and working capital needs. It reflects the trust investors have in Mangalam Worldwide’s future potential and operational strengths.”

The funds raised will be used to reinforce MWL’s commitment to expanding its stainless-steel enterprise while maintaining its existing shareholding structure. The successful issuance allows the company to access debt capital markets efficiently, supporting its ongoing growth trajectory.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..