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The Fund Raising Committee of Centrum Capital Ltd (CCL) on Friday approved raising of funds up to ₹100 crore through issuance of Non-Convertible Debentures (NCDs).
The issuance of NCDs, which will be secured, redeemable, unlisted, unrated, principal protected market linked, will be in one or more tranches, for cash, at par or premium, in dematerialised form, on private placement basis, CCL said in a regulatory filing. Each NCD will have a face value of ₹1 lakh.
This NCD issuance is part of the in-principle approval accorded by CCL’s board of directors on June 25, 2020, for raising of funds through issuance of NCDs up to ₹1,000 crore in one or more series/ tranches, on private placement basis. Till date CCL has raised ₹196.62 crore via NCDs, the filing said.
Also read: Centrum Microcredit raises $5.55 million from Singapore’s IIX
CCL’s principal business activity is merchant / investment banking services. It is also a holding company, with shareholding in 10 subsidiaries, 4 step-down subsidiaries, an associate company and a joint venture.
As per CCL’s annual report, the company’s material subsidiaries are - Centrum Retail Services, Centrum Financial Services, Centrum Microcredit, Centrum Housing Finance, Centrum Wealth Management, and Centrum Broking.
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