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Sakthi Finance, a non-banking finance company (NBFC), has sought markets regulator SEBI’s approval to raise up to ₹200 crore through issuance of non-convertible debentures (NCDs).
The proceeds of the issue will be used for lending activities and other general corporate purposes, according to the draft prospectus filed with the Securities and Exchange Board of India.
The Coimbatore-based firm has filed the draft prospectus for a “public issue of secured redeemable NCDs of face value of ₹1,000 each up to ₹100 crore with an option to retain over-subscription up to ₹100 crore aggregating to ₹200 crore.”
Dalmia Securities and SKDC Consultants are managing the NCD.
Sakthi Finance is a part of Sakthi Group, a conglomerate having major presence in sugar, industrial alcohol, automobile distribution, auto components, dairy, wind energy and transportation.
Earlier this month, Mahindra and Mahindra Financial Services had filed papers with the capital markets regulator to raise up to ₹1,000 crore via NCDs.
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