Capital First would be raising up to Rs 550 crore through the debenture route. The debenture committee constituted by the board of directors, in a meeting held on February 7, approved the proposed issue of secured redeemable non-convertible debentures (NCDs) in one or more tranches for an aggregate amount of up to Rs 450 crore and unsecured redeemable non-convertible subordinated debentures in one or more tranches for an aggregate amount up to Rs 100 crore on a private placement basis.
Meanwhile, credit rating agency, Credit Analysis & Research (CARE) has assigned ‘AA+’ rating to Capital First’s proposed non convertible subordinate debentures issue for an enhanced limit. The amount has been enhanced to Rs 200 crore from Rs 100 crore earlier.
Capital First, formerly Future Capital Holdings, is amongst the fastest growing financial services company in India, with presence in asset advisory, retail financial services and proprietary research.
