Capital First to raise Rs 350 crore on private placement basis

NEW DELHI: Financial services provider Capital First today said it will raise Rs 350 crore by issuing debentures on private placement basis.

The decision to raise the money was approved was approved today by the debenture committee of the Board of Directors at its meeting today.

"...has approved a draft disclosure document for issue of rated, listed, secured, redeemable, non-convertible debentures of Rs 350,00,00,000 on private placement basis", it said in a BSE filing.

Capital First is a systemically important non-banking financial company

It offers products to meet multiple financial needs of customers including consumer lending, corporate lending.

Shares of the company today closed 1.22 per cent up at at Rs 384.40 apiece on BSE.