India Infoline’s arm to raise Rs 250 crore through bond issue

29 Nov 2013 Evaluate

India Infoline Finance’s - wholly owned subsidiary - India Infoline Housing Finance, is planning to raise Rs 250 crore via bond issue. The company has filed draft prospectus for a public issue of secured, redeemable, non-convertible debentures of a face value of Rs 1,000 each, aggregating up to Rs 250 crore.

Axis Capital, India Infoline, Trust Investment Advisors and Edelweiss Financial Services are the lead managers. RR Investors Capital Services, Karvy Investor Services and SMC Capitals are the co-lead managers to the issue. Credit rating agency, CARE and CRISIL rated the issue as AA-.

The funds raised through this issue will be used for the financing activities including lending and investments, subject to applicable statutory and/or regulatory requirements, to repay existing loans and business operations including capital expenditure and working capital requirements.

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