Laxmi India Finance Approves ₹100 Cr NCD Issue

Laxmi India Finance Ltd's Business Operation Committee has approved the issuance of up to 1,00,000 Rated, Listed, Unsubordinated, Secured, Redeemable, Non-Convertible Debentures (NCDs) worth ₹100 crore. This includes a green shoe option of up to ₹20 crore. The NCDs will have a face value of ₹10,000 each and will be issued on a private placement basis. They are proposed to be listed on the Wholesale Debt Market segment of BSE Limited. The NCDs will be secured by a first and exclusive charge on identified receivables. The company also clarified a previous intimation regarding a similar fund-raising exercise.