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JM Financial Credit Solutions to raise up to Rs 12.5 bn through bonds

The issue will open on November 20 and close of December 20

Press Trust of India  |  Mumbai 

Representative Image
Representative Image

Credit Solutions, the non-bank arm of the Group, Wednesday said it plans to raise up to Rs 12.50 billion through

This base issue of the second tranche is Rs 2.5 billion, with an option to retain oversubscription up to Rs 10 billion, the company said in a release.

In the first tranche, the company had raised Rs 7.5 billion in June 2018.

The issue will open on November 20 and close of December 20.

The issue has six structures of various tenors and offering a coupon in the range of 9.67 per cent to 10.25 per cent.

The are proposed to be listed on BSE. The lead managers to the issue are A K Capital, JM Financial, Edelweiss Financial Services and Trust Investment Advisors Private.

Credit Solutions is a wholesale finance NBFC and provides integrated financial solutions to real estate developers with a focus on residential project financing such as funding real estate developers at various stages in the life cycle of a real estate project.

For FY18, its loan book stood at Rs 73.39 billion as compared to Rs 56.58 billion as of FY17.

Its product portfolio consists of project finance, loans against property, loans against shares, project at early stage loans, and loans against land.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, November 14 2018. 20:30 IST
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