The Board of Directors of Avendus Finance Private Ltd (AFPL), on Saturday, approved the issuance of non-convertible, market-linked debentures, aggregating up to ₹150 crore on private placement basis.
The non-convertible debenture (NCD) issuance will comprise of base size of up to ₹75 crore and a greenshoe option of up to ₹75 crore, per an exchange filing by the company. The debentures will be rated, listed, secured, redeemable and principal protected.
In March 2021, AFPL’s Board of Directors had approved the issuance of NCDs including Market Linked Debentures or Equity Linked Debentures in one or more tranches up to a total amount of ₹1,250 crore, during the financial year 2021-22.
AFPL, which was established in 2016, is the private credit business arm (wholly-owned subsidiary) of Avendus Capital Private Ltd (ACPL). The non-banking finance company provides debt financing solutions like promoter funding, corporate finance, customised structured debt solutions, and acquisition finance to businesses, entrepreneurs and private equity sponsors.
Kohlberg Kravis Roberts (KKR) is the dominant shareholder of ACPL, having about 64 per cent stake.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.