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IndusInd International Holdings, the successful resolution applicant of Reliance Capital (RCap), plans to raise ₹3,000 crore through non-convertible debentures.
The proceeds will be used to part fund the acquisition of RCap, while the other leg of the transaction to complete the process for ₹4,300 crore is parallelly underway which will be subject to receipt of regulatory approvals and completion of formalities by the administrator.
The NCD with a duration of 3.5 years is expected to open for subscription early next week, said sources.
IIHL has already brought its equity component of ₹2,750 crore for the transaction, which has been deposited in a designated account of the Committee of Creditors, under the supervision of NCLT.
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