Crest Ventures rises after board OKs raising Rs 91 cr via NCDs

Crest Ventures gained 2.48% to Rs 158.80 after the company's Debenture Fund Raising Committee approved the allotment of non convertible debentures (NCDs) worth Rs 90.90 crore on private placement basis.

The NCDs have coupon rate of 12% p.a and payment of interest will be done quarterly. Tenure of the instruments is 15 months.

The NCDs will be listed on wholesale debt market segment of BSE.

Earlier in February 2023, the company's board approved raising upto Rs 100 crore through issuance of NCDs in one or more series/tranches, on private placement basis.

Crest Ventures is a non-banking financial company registered with the RBI. The company operates under three verticals: financial services, real estate and investments & credit.

The NBFC's consolidated net profit jumped 32.7% to Rs 9.26 crore on 103.9% surge in total income to Rs 26.51 crore in Q3 FY23 over Q3 FY22.

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