Online non-banking finance company PAISALO Digital has raised Rs 28 crore in the form of debt capital through non- convertible debentures (NCDs).
The NBFC has announced opening of unsecured NCD issue for a five year period on a private placement basis. "The coupon rate for the same is 12 percent," the company said in a statement.
The debentures are offered at face value of Rs 1 crore per unit, subject to minimum subscription of one NCDs and then addition of Rs 10 lakh thereafter, it said.
The maturity of the debentures are at 60 months from the date of allotment. The interest will be paid monthly to investors.
The proceeds shall be used for the general corporate purpose and for onward lending in the normal course of the company's business.
The company offers loans in various ticket sizes ranging from Rs 10,000 to Rs 2 crore as business loans, SME (small and medium sector enterprise) loans, among other income generating loans.
