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KLM Axiva Finvest, the Kochi based NBFC, has come out with an NCD issue with a face value of ₹1000. The issue, fifth in the series, opened on September 30 and will close on October 26. The minimum investment starts at ₹5,000.
There are 10 deposit plans and various schemes ranging from 12 months to 80 months, offering interest rates ranging from 10 to 11.25 per cent. The issue also consists of a scheme where the deposit amount will be doubled in 80 months.
The company in a statement claimed that the last issue was oversubscribed. With the new NCD issue, it aims to raise ₹200 crore and the entire amount raised will be used for the expansion of gold loans, J Alexander, Chairman of the firm, said.
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