CHENNAI: Non-banking financial company Vivriti Capital proposes to raise Rs 500 crore through a maiden public issue of non-convertible debentures (NCDs).

The issue, scheduled to open on August 18 and close on August 31, comprises Series I to Series V with different tenure of interest payment and coupon rates.

It proposes to use at least 75 % of the total amount from net proceeds from the issue towards onward lending, financing and for repayment of interest and principal of existing borrowings of the company and maximum up to 25% of the total amount from net proceeds from the issue towards general purpose expenses.

Vineet Sukumar, founder-MD, Vivriti Capital , said, “We manage a portfolio of Rs 5,835.80 crore and have provided debt solutions to over 194 mid-corporates across various sectors.”