Capital First, has received approval to raise up to Rs.400 crore via issuance of non-convertible debentures (NCDs) on private placement basis, from its debenture committee.

According to Warburg Pincus-backed Capital First said in a BSE filing, “The debenture committee…has inter-alia approved an issue of rated, listed, secured, redeemable, non-convertible debentures of Rs.100 crore plus green shoe option of Rs.300 crore on private placement basis.”

The non-convertible debentures will have a maturity of December 8,2022 and have coupon rate of 8.25% per annum.

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