UltraTech Cement to raise Rs 300 cr via pvt placement

UltraTech Cement today said it plans to raise Rs 300 crore through private placement of Non-Convertible Debentures (NCDs)
"The company is proposing to issue Secured Redeemable NCDs amounting to Rs 300 crore on private placement basis," the flagship firm of the Aditya Birla Group said in a regulatory filing.
The securities, proposed to be listed on NSE, will have a tenure of 5 years and the interest offered is 7.15 per cent per annum, it added.
The date of allotment for the NCDs is October 18, 2016.
In August, the cement maker had said it is looking to raise Rs 500 crore through issuance of secured redeemable NCDs on a private placement basis.

The proposed issue of Rs 500 crore debentures will be listed on NSE with deemed date of allotment on August 22, 2016, the company had said in a regulatory filing.
The debentures will mature on August 21, 2026 and the company will offer a coupon/interest rate of 7.53 per cent per annum.