Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Tourism Finance Corporation of India Raises Rs 400 Million Via Market Linked Debentures

The debentures which were issued on a private placement basis, are slated to mature in 36 months.

Photo Credit :

1459338434_tl11LV_Businessman-and-Stack-Of-Coins.jpg

Tourism Finance Corporation of India Limited (TFCI), on Wednesday raised resources by way of Market Linked Debentures (MLDs). 


The issue size was fixed at INR 250 million along with a green-shoe option. The issue received favourable market response and was subscribed to the tune of INR 400 million including a green shoe of INR 150 million. The debentures which were issued on a private placement basis, are slated to mature in 36 months.

 

Anirban Chakraborty, MD & CEO of TFCI, said that this is the first ever such issuance in the history of the company. The funds so raised shall be utilised to accelerate the growth plans at the backdrop of recoveries observed in various segments of the hospitality sector. He further said that the recent Rs. 65 crore of preferential equity allotment would further improve capital adequacy from the last reported CAR of 44.38% and the company would now like to sweat the equity. The objective of this issuance was to diversify the funding sources for the company, he added.

 

TFCI is a systemically important, non-deposit taking NBFC headquartered in New Delhi. It primarily funds projects in hospitality sector and boasts assisting marquee assets across the country. As on September 30, 2021, it reported INR 19110 million of assets under management with a half-yearly PAT of INR 430 million.


Tags assigned to this article:
TFCI debentures Anirban Chakraborty