Transwarranty Finance has received an approval for raising of funds by offering the fourth tranche/Series D/2019-20 of secured and/ or unsecured redeemable non-convertible debentures including subordinated debt on private placement basis for an amount not exceeding the aggregate amount of Rs 1 crore. The Board also approved raising of funds by way of External Commercial Borrowing (ECB) for an amount not exceeding Rupee equivalent to $25 million, subject to directions issued by Reserve Bank of India, from time to time, within the overall borrowing limit as may be approved by the shareholders.
Further, the Board has given approval for raising of funds through issue of secured/unsecured redeemable Non-convertible Debentures (NCDs) including subordinated debt, in one or more series/ tranches up to an aggregate amount of Rs 50 crore for a period of one year, commencing from the ensuing Annual General Meeting of the Company, on a private placement basis and on such terms and conditions as the Board may, from time to time, determine and consider proper and beneficial to the Company, within the overall borrowing limits of the Company, subject to the approval of shareholders of the Company.
The Board of Directors of the company at their meeting held on August 29, 2019, approved the same.
Transwarranty Finance is a full service Financial & Capital Market Services Company, providing a wide range of services to over 1,000 Large, Small and Medium companies and thousands of retail clients all over India, since 1994.
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