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Indian Hotels to raise Rs 200 cr via allotment of NCDs

Press Trust of India  |  New Delhi 

Tata Group firm Company today said it plans to raise Rs 200 crore through allotment of non-convertible debentures (NCDs) amounting to Rs 200 crore on private placement basis.

As per the resolution passed by the Board of Directors on May 18, 2016, "it is proposed to allot unsecured, redeemable, non-cumulative and non-convertible debentures aggregating Rs 200 crore on private placement basis," Company said in a filing.

However, the company did not disclose how it wanted to use the funds it plans to raise.

The NCDs are proposed to be listed at wholesale segment of National Stock Exchange, it added.

The tenure of allotment is for three years, with April 20, 2017 being the deemed date of allotment, said.

"The interest rate/coupon is 7.85 per cent per annum," it added.

of Indian Hotels Company closed 0.12 per cent up at Rs 128 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 17 2017. 19:48 IST