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Healthcare and financial services major Religare Enterprises will infuse Rs 300 crore equity into Religare Finvest in the current fiscal to support the growth plans of its subsidiary, company officials said on Tuesday.

With an announcement of Rs 800 crore NCD (non-convertible debentures) issue, the total funds available to Religare Finvest for its loan activities would be Rs 1,100 crore.

The parent firm Religare Enterprises' is separately raising Rs 800 crore by way of a rights issue.

Of this, Rs 300 crore would be infused into its subsidiary, Religare Finvest Chief Executive Officer Kavi Arora said.

The parent company filed a draft red herring prospectus (DRHP) with the market regulator, SEBI in May, Religare Enterprise Director-Treasury Rashmi Mohanty told reporters here.

" Post-equity infusion, the paid-up capital of Religare Finvest will increase to Rs 2,000 crore," Arora said.

Religare Finvest, a non-banking finance company (NBFC) had extended a total loan Rs 9,926.54 crore by the end of first quarter of this fiscal. While SME lending accounted for 69 per cent of the loan book, 16 per cent was disbursed against shares as also consumer loans.

"We aim to grow our loan book by 35-40 per cent in the current fiscal," Arora said.

He also said that debt raising through NCD issue and proposed equity infusion would be sufficient to support business growth.

Referring to net interest margin (NIM) of the NBFC, he said that the company would like to maintain it around 4.5 per cent to 4.75 per cent in the near future.

"Though there is pressure on NIM due to rise in cost of borrowing, we expect to maintain the spread between cost of borrowing and yield on advances at 4.5 per cent to 4.75 per cent in the current fiscal," he said.

Religare Finvest, which has a presence in 48 cities in the country, has registered an operating income of Rs 1,073.61 crore and a net profit of Rs 114.77 crore in the last fiscal.