/ Capital First Raises Rs 700 Crore Through NCDs ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 6 April 2017

Capital First, a debt financier to micro, small and medium enterprises, was to raise Rs 700 crore through non-convertible debentures (NCDs) for business expansion.  The Debenture Committee vide resolution was passed on April 05, 2017 and approved allotment of 5000 NCDs with face value of Rs 10 lakh each. The NCDs are to be listed on NSE.

Accordingly, the company Board approved to raise Rs 500 crore through issue of rated, listed, secured and redeemable NCDs while remaining Rs 200 crore green shoe option on private placement basis. The bond will be issued with two options, three years with coupon rate of 8.35% and five years with coupon rate of 8.4%.

The stock of Capital First did not move much with the announcement and is trading at Rs 767 at 1100 hours on Thursday.

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