Deposit-accepting NBFC Shriram City Union Finance today said it is planning to raise up to Rs 500 crore through a public issue of secured non-convertible debentures.
The NCDs are proposed with a face value of Rs 1,000 each and the public issue opens on September 12, the company said in a release issued here.
The funds raised through the issue would be used for the company's various financing activities and to repay their existing loans.
The NCDs are proposed to be listed on the NSE and BSE.
The issue has been rated 'CARE AA' by CARE and 'CRISIL AA-/Stable' by CRISIL, the release said.
JM Financial Institutional Securities, A K Capital Services and Edelweiss Financial Services are the lead managers to the issue, while Integrated Enterprises (India) is the registrar.
