NEW DELHI(INDIA): Non-banking finance company Capri Global plans to raise Rs 800 crore through non-convertible debenture and commercial paper.
“Capri Global Capital plans to raise Rs 500 crore via non-convertible debentures and Rs 300 crore via commercial paper,” the company said in a regulatory filing.
The fund will be deployed for lending to the micro, small and medium enterprises, downstream investments, new financial services and for general corporate purposes, it said.
“Recent cuts in interest rates by RBI has lead to moderation in bond yields , which is expected to benefit NBFCs by way of 100 basis point cut in cost of borrowings,” Capri Global Capital director Rajesh Sharma said.
The company will shortly decide on the term of the NCD issue subject to the approval of the shareholders.
Besides, Capri Global said the board has decided to split its equity shares of face value of Rs 10 each to shares of face value of Rs 2 each to increase liquidity of its stock and increase its shareholders base.
The company’s loan disbursement stood at Rs 700 crore in 2015-16.
Source:Press Trust of India