65 Crores will be raised by the Vijay Shanthi Builders through NCD
The property developer Vijay Shanthi Builders Ltd has now decided to raise Rupees 65 crore through Non-Convertible Debuntures from the IDFC real estate fund. The ability to raise funds has been crippled because of the sluggish growth in the economy. Companies which have faced this dilemma are the banks, the financial institutions which have been staying away from funding sectors due to the difficult and strict rules and regulations of the RBI.
The company will be depending upon the new kinds of financial instruments instead of other financial instruments such as bank credit in the form of cash credits and project term loans, so that new projects can be developed more for improving the top line as well as their bottom line.
The company while explaining about the NCD has also mentioned that the company has planned to extract funds from the Securities and Exchange Board of India to fulfill its funding requirements and while trying to do that, the category II Alternative Investment Fund has shown some significant interest in funding the company.
Source – BS Reporter
Non-Convertible Debuntures, SEBI, Sebi regulations, Sebi’s order, Securities and Exchange Board of India, Securities and exchange board of India(Sebi), Security and Exchange Board of India (SEBI)
