InCred Fin plans to raise up to Rs 300 cr via NCDs
The NCD issue has a base size of ₹150 crore and an option for additional subscription of ₹150 crore, the non-banking financial company said on Friday. The minimum application size for the issue is ₹10,000 and thereafter in multiples of ₹1,000.
The issuance is spread across five series, with tenures of 18 months, 24 months, and 36 months.
Series I, which has a maturity of 18 months, and monthly frequency of interest payments, has an effective yield of 9.88%. Series II, which has a tenure of 24 months and a quarterly frequency of interest payments, bears an effective yield of 9.88%.
Series III, which is for 24 months, has monthly interest payments and an effective yield of 10.08%, while Series IV, which is for 36 months, has an annual frequency of interest payments and an effective yield of 10.28%.
The Series V, which is also of 36-month tenure, has monthly interest payments and an effective yield of 10.29%.
«We continuously leverage technology and data-science to make lending quick, simple, and hassle-free. A key component of our growth so far has been the success of our liabilities strategy, and this public issuance of NCDs will play a role in further diversifying and strengthening our borrowing mix,» said Bhupinder Singh, CEO InCred Financial Services.
