NBFCs turn to public for funds
So far there have been seven public issue of NCDs from January, compared to 17 such issuances in April-December of FY18-19.
Mumbai: Non banking finance companies, or NBFCs, may raise more money for onward lending through public issues of non-convertible debentures (NCDs) in the calendar year 2019 as institutional investors like mutual funds and insurance companies are becoming more cautious in investing in them.
The last two moths have seen a flurry of NCD issues by prominent NBFC names like Mahindra & Mahindra Financial Services, Shriram Transport Finance, IIFL, Muthoot Finance and Manappuram Finance.
On Thursday, L&T Finance also announced public issue of NCDs worth Rs 1,500 crore with coupon rates of 8.75 per cent to 9.35 per cent.
So far there have been seven public issue of NCDs from January, compared to 17 such issuances in April-December of FY18-19.