Monday, September 17, 2012

Religare Finvest NCD issue details - Double your money in less than 6 years

Religare Finvest Limited is entering the capital market with a public issue of secured redeemable non-convertible debentures for Rs. 250 crore with an option to retain oversubscription of up to Rs. 250 crore. The issue opens for subscription from September 14 and closes on 27th September, 2012

The applicants will be allotted NCDs on a first-come-first-served basis. 
The proceeds of the issue will be used for various financing activities, including lending and investments and repayment of existing debt.

The company has two options under which a minimum of Rs. 10000 is to be invested. The face value of NCDs will be of Rs. 1000 each. Under option I, the NCDs will bear interest rate of 12.10% for category I, 12.25% for category II and 12.50% for category III and will have tenure of 60 months. Under option II the interest rates will be 12.00%, 12.15% and 12.25% respectively for the three categories and the tenure will be for a period of 36 months. Both these option have no put and call option attached.

The object of the issue are, Lending and investments, to repay the existing debt and working capital requirements.

The company, Religare Finvest Ltd is a wholly owned subsidiary of Religare Enterprises Limited  which is a diversified financial services company.

Investments to be made in Demat form only

Rating: ‘ICRA AA- (negative) / CARE AA-

Cheque / DD should be drawn in favour of ‘Escrow Account RFL NCD Public Issue-R’.

Listing at BSE and NSE

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