Indian Hotels raises Rs 495 cr via NCDs

Tata group hospitality firm Indian Hotels Company Ltd (IHCL) today said it has raised Rs 495 crore by issuing non-convertible debentures (NCDs) on private placement basis.
"...The company has on January 20, 2017 allotted 4,950 rated, listed, secured, redeemable, non-cumulative and non-convertible debentures aggregating Rs 495 crore on private placement basis," Indian Hotels said in a filing to BSE.
The company's board of directors on May 18, 2016, had passed a resolution on the same.
NCDs will be for a tenure of five years, two months and twenty six days till April 15, 2022, with the deemed date of allotment being January 20, 2017, IHCL had said in a earlier regulatory filing on January 17, 2017.

"The said security shall be created by the issuer in favour of the debenture trustee within a maximum 90 days from the deemed date of allotment," it had said.
Shares of Indian Hotels Company Ltd today closed at Rs 106.95 per scrip on BSE, down 1.16 from its previous close.