India Infoline Finance to raise Rs 1,050 crore via NCDs

MUMBAI: India Infoline Finance, the non-banking finance arm of India Infoline Ltd, today said it will raise Rs 1,050 crore through issuance of secured redeemable non-convertible debentures maturing in three years and five years.

The company would issue the NCDs with a face value of Rs 1,000 each, aggregating up to Rs 525 crore with an option to retain over-subscription of a similar amount.

India Infoline Finance offers an annual coupon of 12 per cent on both the NCDs, which also have the option of monthly interest payment with a yield of 12.68 per cent per annum.

"We are offering an attractive yield of 12.68 per annum on the monthly interest option," said R Venkataraman, managing director, India Infoline Group.

The issue will open for subscription on September 17 and will close on October 4.

The NCDs will be listed on both BSE and National Stock Exchange.

The lead managers to the issue are Axis Capital, India Infoline, Trust Investment Advisors and IDBI Capital Market Services. The co-lead managers are RR Investors Capital Services, Karvy Investor Services and SMC Capitals.