Date : Aug-21-2009
Non-banking finance arms leading brokerages are planning to raise short-term funds amounting to around Rs 6,000 crore to finance subscription of IPOs by investors. Kotak Group's NBFC arm Infina Finance Pvt Ltd' is planning to raise short-term debt (STD) of Rs 3,000 crore.
Further, India Infoline's NBFC arm India Infoline Investment Services Ltd is also raised money through STD for NHPC IPO financing.
"We had rating from ICRA to raise up to Rs 2,100 crore under short-term debt programme to finance investors for subscribing to the NHPC IPO. However, we cannot reveal how much was actually raised," an official from the broking firm India Infoline said.
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