Indian companies raise Rs 1,400 cr via NCDs in Apr-Jun quarter
03/07/2014 17:33
Indian companies mopped up over Rs 1,400 crore via retail issuance of non-convertible debentures in the first quarter the current fiscal, primarily to meet the working capital requirements, reported PTI. A cumulative amount of Rs 42,383 crore had been garnered through 35 issues of NCDs in the entire 2013-14 fiscal, as per the media reports. NCDs are loan-linked bonds that can't be converted into stock, and usually offer higher interest rates than convertible debentures, as per the media reports, According to media reports, most of the funds were raised to support the working capital requirements and for other general corporate purposes. Shriram City Union Finance, Kosamattam Finance Ltd, SREI Infrastructure Finance Ltd, ECL Finance Ltd, Midland Microfin Ltd and Muthoot Finance Ltd collectively raised Rs 1,409 crore via NCDs during the April-June quarter of 2014-15 through six issuances, according to data with the Securities and Exchange Board of India (Sebi).
03/07/2014 17:33
Indian companies mopped up over Rs 1,400 crore via retail issuance of non-convertible debentures in the first quarter the current fiscal, primarily to meet the working capital requirements, reported PTI. A cumulative amount of Rs 42,383 crore had been garnered through 35 issues of NCDs in the entire 2013-14 fiscal, as per the media reports. NCDs are loan-linked bonds that can't be converted into stock, and usually offer higher interest rates than convertible debentures, as per the media reports, According to media reports, most of the funds were raised to support the working capital requirements and for other general corporate purposes. Shriram City Union Finance, Kosamattam Finance Ltd, SREI Infrastructure Finance Ltd, ECL Finance Ltd, Midland Microfin Ltd and Muthoot Finance Ltd collectively raised Rs 1,409 crore via NCDs during the April-June quarter of 2014-15 through six issuances, according to data with the Securities and Exchange Board of India (Sebi).
