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Coimbatore-based Sakthi Finance Ltd, a NBFC belonging to Sakthi Sugars Group, has proposed to raise up to ₹200 crore through a public issue of non-convertible debentures.
In a communication to the stock exchanges, the company said its board has approved the public issue of secured, redeemable non-convertible debentures (SRNCDs) for an amount not exceeding ₹200 crore (including an option to retain over subscription for issuance of additional SRNCDs). This would be done in one or more tranches of varying face value.
The board has also decided to increase the borrowing power in excess of the paid-up capital and free reserves to ₹2,500 crore from ₹1,500 crore.
The Sakthi Group straddles across various sectors, including sugars, auto components,transportation and education.
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