Religare Finvest Limited is entering the capital market with a public issue of secured redeemable non-convertible debentures for Rs. 250 crore with an option to retain oversubscription of up to Rs. 250 crore. The issue opens for subscription from September 14, and the applicants will be allotted NCDs on a first-come-first-served basis. The proceeds of the issue will be used for various financing activities, including lending and investments and repayment of existing debt.
The NCDs are issued in five series with a coupon rate of 12.25 per cent per annum. The yield varies from 12.25 per cent to 12.62 per cent for various tenors.
Addressing presspersons here on Thursday, Kanchan Jain, President and Chief Risk Officer, said the company would continue its focus on small and medium enterprises segment with a diversified and broad suite of lending products. The company’s loan book registered a compounded annual growth rate of 75 per cent over the last three years, and the aggregate amount stood at Rs. 12,570 crore as on March 31, 2012, she said. The net NPA ratio was 0.51 per cent with the net worth at Rs. 2,080.56 crore as on March 31, 2012.
