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Reliance Capital’s arm plans to raise Rs 1000 crore via NCDs

20 Dec 2016 Evaluate

Reliance Home Finance, a 100% subsidiary of Reliance Capital, is planning to raise Rs 1,000 crore ($14.7 million), as base issue size, by offering secured and unsecured non-convertible debentures (NCDs) at a face value of Rs 1,000 each. The Unsecured NCDs will be in the nature of subordinated debt and will be eligible for inclusion as Upper Tier II Capital.

The public issue will open on December 22 and close on January 6, while proceed of the issue will be utilized for lending, financing, repayment of loans and general corporate purposes. The NCDs will be issued in one or more trenches up to the shelf limit, on terms and conditions as set out in the Tranche 1 Prospectus.

Reliance Capital is a systemically important non-deposit taking NBFC. The company is part of the Reliance group led by Anil Dhirubhai Ambani. It currently operates as the holding company for the group’s entities in the financial services sector.

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