Comments
Two companies have raised Rs 665 crore through retail issuance of non-convertible debentures (NCDs) in the first two months of the current financial year.
This is on top of the Rs 33,812 crore garnered in the entire preceding financial year, according to the latest data available with the Securities and Exchange Board of India.
The funds will be used for expansion, supporting working capital requirements and other general corporate purposes.
Individually, Muthoot Finance mopped up Rs 500 crore against a target of Rs 250 crore and Shakthi Finance raked in Rs 165 crore compared with the base size of Rs 100 crore.
NCDs are loan-linked bonds that cannot be converted into stock and usually offer higher interest rates than convertible debentures.
Moreover, several companies have lined up plans to raise funds through NCDs on a private placement basis.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.