Altico Capital plans to raise Rs 1,250 cr by issuing NCDs

Altico Capital India today said it will raise up to Rs 1,250 crore by issuing debentures on a private placement basis.
The proposal to raise the said amount of fund will come up at company's Board of Directors' meeting to be held on May 19.
"...To consider a proposal to raise funds through issuance of non-convertible debentures (NCDs) aggregating upto Rs 1,250 crore, in one or more tranches," it said in a BSE filing.
Altico said the NCDs will be issued on a private placement basis. However, it did not elaborate on usage of the funds raised.
Altico Capital, a non-banking finance company (NBFC) has the primary business of advancing loans and financing.