What is NCD?
NCD’s (Non-Convertible Debentures) refer to debentures which can’t be converted into shares or equities.
An NCD might not ring a bell in the minds of most Indian investors but is quite popular in the western world. The concept of issuing NCD’s is relatively new to India, having been first issued by SBI in 2008-09 to retail investors. The bonds are listed on BSE/NSE retail debt terminal.