Meghmani Organics raises Rs 100 cr through NCDs
Meghmani Organics, the Gujarat-based manufacturer of pigments and pesticides, today said has raised Rs 100 crore through private placement of secured redeemable non-convertible debentures (NCDs).
The debenture is in form of separately transferable redeemable principal parts (STRPPs) of the face value of Rs 1,00,000 each at par, a company release said.
The issue proceeds will be used for augmenting medium to long term resources of the company including regular capital expenditure, it said.
The tenure of the NCDs is five years and they will be listed on wholesale Debt Market (WDM) segment of the Bombay Stock Exchange.