NCD is a Secure and Redeemable Corporate Bond, a bond issued by a corporation to raise money from the capital market. Unlike equity shares, bondholders do not have any ownership interest in the company. They are also known as securities that do not have any equity element attached to it. NCD are tradable instruments. They are listed with major stock exchanges (BSE and NSE) in India. You can invest or learn more from https://bit.ly/3veTDPq and https://tinyurl.com/2p99mbup. You can read here - https://rebrand.ly/what-is-ncd-ipo