Non-banking finance firm Capital First today said its debenture committee has approved a proposal to raise up to Rs 400 crore through issuance of non- convertible debentures (NCDs) on private placement basis.The debenture committee...has inter-alia approved an issue of rated, listed, secured, redeemable, non-convertible debentures of Rs 100 crore plus green shoe option of Rs 300 crore on private placement basis, Warburg Pincus-backed Capital First said in a BSE filing.The NCDs will mature on December 8, 2022 and carry coupon rate of 8.25 per cent per annum.