Reliance Home Finance Ltd, a unit of Anil Ambani-controlled Reliance Capital Ltd, on Tuesday said it will raise up to Rs3,500 crore by selling non-convertible debentures (NCDs).
The secured NCDs and unsecured NCDs will be issued at a face value of Rs1,000 each. The base issue size is Rs1,000 crore with an option to retain oversubscription up to Rs3,500 crore. The unsecured NCDs will be in the nature of subordinated debt and will be eligible for inclusion as upper tier II Capital, it said.