India Infoline Finance, a subsidiary of India Infoline is planning to mop up Rs 50 crore debt through a non-convertible debenture (NCD) issue. The said NCDs will be in the nature of subordinated debt and will be eligible for tier-II capital.
The issue has an AA-(stable) rating from both CRISIL and ICRA and will be listed on the BSE and NSE. However, the company did not specify when the issue will open. The issue comprises a base issue of un-secured redeemable NCDs with a face value of Rs 1,000 each aggregating up to Rs 25 crore with an option to retain over-subscription of similar amount, aggregating to a total of Rs 50 crore.
The lead managers to the issue are Axis Bank, SBI Capital Markets, Edelweiss Financial Services, Trust Investment Advisors and India Infoline, while co-lead managers are RR Investors.
