 "MRPL to raise Rs 3,000 crore via NCDs")
Mangalore Refinery & Petrochemicals Ltd (MRPL) will raise up to Rs 3,000 crore by way of issuing Non-Convertible Debentures (NCDs).
The Board of the Company at its Annual General Meeting held on Saturday was authorised to raise the amount. The move is expected to improve its cash flow and aid in meeting working capital needs besides retiring part of its high cost debt.
"The shareholders of the company... Have authorised the Board to raise funds of up to Rs 3,000 crore through issue of Non-Convertible Debentures (NCDs)/Bonds," MRPL said in a regulatory filing.
The company's scrip closed at Rs 79.30, down 1.06 per cent on Friday at BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%