MUMBAI: India’s Capri Global Capital plans to raise 65 billion rupees ($732.9 million) through a combination of bonds and loans in this financial year, a company executive said on Wednesday.
The non-banking financial company aims to raise 47 billion rupees in the second half of the fiscal, after raising 18 billion rupees from April to September.
The proceeds will be used to expand the loan book and open 200 branches, Managing Director Rajesh Sharma told Reuters.
Capri Global will also raise around 4 billion rupees through a public issue of bonds, with maturities varying from 18 months to 10 years. The issue will open for subscription next week.
The bonds are rated ‘AA’ by Infomerics and Acuite Ratings, and Trust Investment Advisors is the lead manger for the issue.
Vinay Surana, Capri Global’s head of treasury, said the company plans to raise around 10 billion to 15 billion rupees through bonds in the next six months, and could consider another public issue after assessing the response to the upcoming sale.
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