Smallcap NBFC to raise ₹500 crore via public issue of NCDs at 10.24% PA effective yield; stock gains 8% in one month

Finance , which is a non-banking financial company (NBFC), today said that it will raise up to ₹500 crores through a public issue of secured, rated, listed redeemable non-convertible debentures (“NCDs”). The funds raised will be used for the purpose of onward lending, financing / refinancing the existing indebtedness of the Company, and/or debt servicing (payment of interest and/or repayment / prepayment of interest and principal of existing borrowings of our Company) and general corporate purposes