Religare Finvest to raise Rs 100cr via NCDs

Religare Finvest Ltd, the NBFC arm of Religare Enterprises Ltd, will launch on Thursday its NCD issue to raise up to Rs 100 crore through private placement.
"The company will open the issue of secured-rated, listed redeemable non-convertible debentures (NCDs) of Rs 10 lakh each for cash at par up to Rs 100 crore on private placement basis of Religare Finvest on January 22, 2015," RFL said in a filing to BSE.
Also, the Loan/Investment and Borrowing Committee of the company will consider proposals including buy-back of 4,000 publically placed NCDs of Rs 1,000 each that were issued on September 2011.

The proposal with regard to early redemption of 25 redeemable market linked NCDs of Rs 1 lakh issued in 2012 will also be considered.
RFL, a subsidiary of REL, is a Small and Medium Enterprise (SME) financing focused Non-Banking Financial Company (NBFC). It also provides loan against marketable securities.
The REL scrip closed 2.1 per cent higher at Rs 350 on the BSE.