Aditya Birla Finance Limited (ABFL), a subsidiary of Aditya Birla Capital Limited, has announced plans to raise up to Rs 2,000 crore through its first-ever public issue of non-convertible debentures (NCDs). The NCDs will be offered in tenor options of three, five, or ten years, with varying interest payment frequencies including ‘monthly,’ ‘annual,’ or ‘cumulative.’ Coupon rates will range from 8% to 8.10% per annum for annual options, yielding between 7.99% and 8.09% per annum across different series. The issue, managed by leading financial firms, opens on September 27 and may close early. ABFL aims to allocate at least 75% of the net proceeds toward lending, financing, and existing borrowings’ interest and principal repayment, with up to 25% for general corporate purposes. The NCDs have received high ratings from India Ratings & Research Private Limited and ICRA Limited.
Aditya Birla Finance to Raise Up to Rs 2,000 Crore via Maiden NCD Issue
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