Bombay Burmah Trading on Wednesday announced that a special committee of the board has approved raising upto Rs 125 crore through issue of senior, secured, listed, rated, market linked redeemable non-convertible debentures (NCDs).
The company will issue 12,500 NCDs of the face value of Rs 1 lakh each, aggregating to Rs 125 crore on a private placement basis.The NCDs will be allotted on 25 March 2021 and will mature after two years on 27 March 2023.
Further, the company has decided not to proceed with the issue of secured, listed, redeemable, NCDs of upto Rs 40 crore.
Shares of Bombay Burmah Trading Corporation were down 0.75% at Rs 1155 on BSE.
Bombay Burmah Trading Corporation has diversified its interests into tea, coffee, other plantation products, biscuit and dairy products. On a consolidated basis, the company's net profit declined 65% to Rs 70.19 crore on a 5.8% rise in net sales to Rs 3176 crore in Q3 FY21 over Q3 FY20.
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