UPDATE 1-First Capital to raise C$51.3 mln in equity financing

* To sell 3 mln units at C$17.10 apiece

* To use part of proceeds to repay debt

July 15 (Reuters) - First Capital Realty Inc (FCR.TO), a developer of shopping centers, said it would raise about C$51.3 million ($46.09 million) by selling 3 million units to a syndicate of underwriters, led by RBC Capital Markets.

The company will sell its units at $17.10 per unit. Each unit has one common share of First Capital Realty and two-thirds of a common share purchase warrant.

The underwriters have an over-allotment option to purchase up to an additional 450,000 units at the same price.

First Capital, which said the offering would close by Aug. 5, expects to use part of the proceeds to repay debt.

Shares of the company closed at C$17.53 Wednesday on the Toronto Stock Exchange. ($1=1.113 Canadian Dollar) (Reporting by Deepti Govind in Bangalore; Editing by Ratul Ray Chaudhuri)