Indostar Capital Finance board to raise up to Rs3,000 crore via NCD issue; Stock gains 2.4%

16 Aug 2022 , 09:18 AM

Indostar Capital Finance Limited has announced to the exchanges regarding fund raising  proposal by the Board of Directors.

As per the filing, the Board of Directors of the company has approved the Issue of Non-Convertible Debentures (NCDs) for an amount not exceeding Rs3,000 crore on private placement basis, during a year from the date and subject to approval of the shareholders of the Company, and authorized the Debenture Committee to determine and approve the detailed terms and conditions of the NCDs to be issued, the company said.

At around 9:18 AM, Indostar Capital Finance was currently trading at Rs159.70 per share up by Rs3.8 or 2.44% from its previous closing of Rs155.90 per share on the BSE. The current market cap of the company is Rs2,121.48 crore.