Mumbai: JM Financial Products, a non-banking financial company (NBFC), is raising up to 1,000 crore via non-convertible debentures (NCDs) of different maturities. The base size of the issue is 200 crore with an option to retain over subscription up to 800 crore, the company said.

"Our public issue of NCDs will enable us to further diversify our funding sources," JM Financial Products managing director Vishal Kampani said on Tuesday.

The company is offering bonds in two, three and five years maturing with coupon ranging from 9.90 to 10.50%.

The first tranche of the issue is within the shelf limit of 2,000 crore, he said, adding the issue is slotted for 22 April to 21 May.

The lead managers to the issue are AK Capital, JM Financial and Trust Investment Advisors.

A systemically important non-deposit-taking NBFC, JM Financial has broadened its services from lease syndication and vehicle leasing to offering financial solutions through lending, syndication, participation in lending for securities issuance and distribution.

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