Religare Finvest Ltd (RFL) on Thursday said that it will be raising Rs 1,425 crore through non convertible debentures.

The company is going to launch the issue on May and it can raise the amount in one or more tranches.

In a BSE filing the company said, “..the Company will open the issue of the Series partly paid secured rated listed redeemable non-convertible debentures of Rs 10 lakh each for cash at par up to Rs 1,425 crores in one or more Tranches on Private Placement Basis of Religare Finvest Limited on May 18, 2015.”

The company had also said in January that it will raise Rs 100 crore through redeemable non-convertible debentures (NCDs) of Rs 10 lakh each on private placement basis.

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