India’s Capital First board OKs raising up to Rs. 6 billion of funds

By Tali Rackner

Minneapolis, May 4 – Capital First Ltd. informed the Bombay Stock Exchange that its board of directors met on Friday and approved raising up to Rs. 6 billion of funds, according to a notice.

The debt will be issued through public and/or private offerings, denominated in rupees or other foreign currencies, and will be in the form of American Depository Receipts, Global Depository Receipts, foreign-currency convertible bonds, foreign-currency exchangeable bonds and/or other forms of debt.

The board also approved the issue of a nonconvertible debenture program for the fiscal year 2018-2019 by way of private placement.

Capital First is a Mumbai, India-based consumer and wholesale business financial services provider.

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