Religare Finvest to raise Rs 1,425 cr via NCDs

Non-banking finance company Religare Finvest Ltd (RFL) Thursday said the company will raise Rs 1,425 crore through non-convertible debentures.

The company will launch the issue on May 18 and it can raise the amount in one or more tranches.

Earlier in January this year, the company had also said it will raise Rs 100 crore through redeemable non-convertible debentures (NCDs) of Rs 10 lakh each on private placement basis.

"..the Company will open the issue of the Series partly paid secured rated listed redeemable non-convertible debentures of Rs 10 lakh each for cash at par up to Rs 1,425 crores in one or more Tranches on Private Placement Basis of Religare Finvest Limited on May 18, 2015," the company said in a BSE filing.

RFL, a subsidiary of Religare Enterprises Ltd, is a Small and Medium Enterprise (SME) financing focused Non-Banking Financial Company (NBFC). It also provides loan against marketable securities.