Sadbhav Infrastructure Project raises Rs 200 crore via NCDs

Sadbhav Infrastructure Project Ltd on Thursday announced that it has raised Rs 200 crore in the first tranche through issuance of non-convertible debentures (NCDs) on private placement basis.

"The board of Directors of the company has passed resolution...Towards approval of the allotment of 2,000 senior, taxable, secured, rated, listed, redeemable, non-convertible debentures totally aggregating up to Rs 200 crore having face value of Rs 10,00,000 each under tranche I comprising of the Series I debentures, series II Debentures, Series III Debentures and Series IV Debentures, of Rs 50
crore each," Sadbhav Infrastructure Project said in a filing to BSE.

The said NCDs will be listed on 'Wholesale Debt Market' segment of the BSE Ltd, it added.

Sadbhav had incorporated Sadbhav Infrastructure Project Ltd (SIPL) as a subsidiary back in 2007 as an asset holding company for road and other infrastructure BOT projects.

SIPL currently has 12 build-operate-transfer (BOT) projects of which seven are fully operational, one is partially operational and others are under various stages of construction. All these projects are Special Purpose Vehicles (SPVs) controlled by SIPL, according to its website.