Religare Enterprises’ wholly-owned NBFC subsidiary Religare Finvest, is expecting to post 18-20% growth in its loan book this financial year with major focus on the SME segment. Besides, it is planning to mop up Rs 500 crore through retail issuance of non-convertible debentures (NCDs). The company will raise NCDs collectively up to Rs 250 crore with an option to raise another Rs 250 crore in case of over-subscription.
The NCDs will have a coupon of 12.25% for various tenors with yield ranging from 12.25 to 12.62% per annum and will stay open for subscription from September 14, 2012 till September 27, 2012. The NBFC raises majority of around 65% of its fund from banking sources and rest is raised from capital market and through commercial papers.
Religare Finvest offers debt capital to SMEs in the form of loans against property, working capital loans, loans against plant and machinery, vehicles and construction equipment and loan against marketable securities among others. It reported a net profit of Rs 137.8 crore in the last financial year and its loan book stood at Rs 12,573.5 crore.
Company Name | CMP |
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Bajaj Finserv | 1592.40 |
Paul Merchants | 890.00 |
Data Infrastructure | 148.00 |
IIFL Finance | 467.90 |
Embassy Office Parks | 363.00 |
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