Kirloskar co Arka Fincap eyes Rs 300 crore from NCD sale
The NCDs, available in three tenures - 24 months, 36 months and 60 months - offer interest rates ranging from 9.29% to 9.99%. The company, part of the Kirloskar Group, has reserved 25% of the issue each to institutional buyers, companies, high-n...
By ET Bureau | Updated:
Reuters
Mumbai: Non-bank finance company Arka Fincap on Tuesday announced the sale of non-convertible debentures (NCDs) with a base size of ₹150 crore and an option to retain another up to ₹150 crore. The issue will open on December 7 and close on December 20.
The NCDs, available in three tenures - 24 months, 36 months and 60 months - offer interest rates ranging from 9.29% to 9.99%. The company, part of the Kirloskar Group, has reserved 25% of the issue each to institutional buyers, companies, high-net-worth individuals and retail investors.
JM Financial and Nuvama Wealth Management (formerly Edelweiss Securities) are the lead managers of the issue.
The company has expanded into SME and MSME lending, constituting around 40% of its assets under management. Kirloskar Group executive chairman Rahul Kirloskar said the NBFC is focusing on secured corporate lending, real estate lending and funding urban infrastructure. Kirloskar sees corporate bonds playing a significant role in financing the economy amid the government's efforts to deepen debt markets.
The NCDs, available in three tenures - 24 months, 36 months and 60 months - offer interest rates ranging from 9.29% to 9.99%. The company, part of the Kirloskar Group, has reserved 25% of the issue each to institutional buyers, companies, high-net-worth individuals and retail investors.
JM Financial and Nuvama Wealth Management (formerly Edelweiss Securities) are the lead managers of the issue.
The company has expanded into SME and MSME lending, constituting around 40% of its assets under management. Kirloskar Group executive chairman Rahul Kirloskar said the NBFC is focusing on secured corporate lending, real estate lending and funding urban infrastructure. Kirloskar sees corporate bonds playing a significant role in financing the economy amid the government's efforts to deepen debt markets.
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