Markets

Capital First to raise Rs 1,500 cr via bonds

PTI New Delhi | Updated on March 27, 2018 Published on March 27, 2018

Non-banking financial company Capital First, which is set to merge with IDFC Bank, will raise up to Rs 1,500 crore by issuing bonds on a private placement basis.

“The debenture committee of the company today approved an issue of rated, listed, secured, redeemable, non-convertible debentures of Rs 1,000 crore plus green shoe option of Rs 500 crore on a private placement basis,” Capital First said in a regulatory filing.

The bonds will carry two options with a coupon rate of 8.80 per cent each for maturities of two years and three years.

Yesterday, Capital First and IDFC Bank had informed about getting approval from NSE for the amalgamation of Capital First, its subsidiaries Capital First Home Finance and Capital First Securities with IDFC Bank subject to regulatory and other approvals.

Capital First shares ended higher by 2.89 per cent at Rs 636.80 on the BSE.

Published on March 27, 2018
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