- January 10, 2023
- Posted by: Bastion team
- Category: World News
Litigation funder LegalPay has launched Interim Financing Bonds for retail investors. The bonds will be available to retail investors through the LegalPay platform for a minimum investment of Rs 10,000 and provide attractive returns.
LegalPay acts as an interim financier investing in commercial litigations and insolvent companies. In a statement, the fintech firm said that in a statement that the first-of-its-kind Interim Financing bonds are fixed-income instruments to finance the expenses of the companies undergoing the Corporate Insolvency Resolution Process (CIRP).
“The Interim Financing Bonds will allow retail investors to diversify their portfolios on LegalPay’s platform and enjoy the benefits which were only available to the ultra HNIs before. Retail investors can invest in such bonds with a minimum investment of Rs 10,000 and have an extraordinary coupon rate of 14% giving investors an opportunity to reap substantial profits,” the statement said.
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The issue size of the Interim Finance Bonds is over Rs 3 crore with a credit rating of BBB. LegalPay said that the bonds have undergone a “stringent due diligence and risk assessment process with asset cover of 100x.”
“Opening such investments to retail investors will act as a step towards democratising equity markets investing and providing diversification benefits to retail investors. Retail investors…